Economy, Auto
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Hyundai to Go Alone

Hyundai to  Go AloneHyundai to  Go Alone

Not long ago in a meeting held between the officials of Hyundai Motor Company and the Ministry of Industries, Mining and Trade, the South Korean company expressed its willingness to produce cars from completely knocked-down kits in Iran. Seoul's largest automotive manufacturer said the new company could operate independently in Iran, Eghtesad News reported. They insisted that they don't want to work in collaboration with any Iranian car manufacturer and aim to either buy or build a factory to be able to produce CKD cars. In 2004, the first Iranian-made Hyundai vehicles were produced with local partner Kerman Motor Company in the south of the country.  Other auto manufacturing companies producing Hyundai vehicles include Rayen Vehicle Manufacturing Company that assembled the Hyundai Accent and Elantra, Avante and Verna, and Iran Khodro Diesel Co. that manufactured commercial vehicles like the Hyundai Mighty (light truck) and Hyundai Chorus (minibus). However, these deals were shortlived.

 

Financialtribune.com