Car Firms Rush for VW Linkup
Economy, Auto

Car Firms Rush for VW Linkup

Iran's state-owned and private automotive firms have begun racing against each other to have a business linkup with German vehicle manufacturer Volkswagen.
Trusted sources have reported that 250 requests have been dispatched by Iranian auto companies, Eghtesad News reported.
Aside from leading carmakers, such as Iran Khodro Company and Kerman Motor, other firms vying for auto assembly and import deals with VW include Atlas Khodro, Asan Motor and Mammut Group among many more.
Decades-old trade and financial restrictions were officially lifted against Iran on Saturday, six months after the Persian Gulf country reached a watershed deal with six world powers (the five permanent members of the United Nations Security Council plus Germany) on getting sanctions relief against temporary curbs on its nuclear program.
The implementation of the nuclear deal, officially known as the Joint Comprehensive Plan of Action, means Iran can reach out to the outside world and do business with international companies without the fear of violating sanctions.
Among the auto firms, IKCO had previously been negotiating a deal with VW and is likely to start the production of some models made by the brand's subsidiary firm Skoda. However, news on that tie-up quieted down in recent months.
Prior to the imposition of sanctions, Kerman Motor, was producing VW's hatchback model, the Brazilian-designed Gol, in Iran. It played a key role in improving auto manufacturing standards at the company.

Short URL : http://goo.gl/UuGtrW
  1. http://goo.gl/3IcQa9
  • http://goo.gl/jjh5kI
  • http://goo.gl/A6zcyI
  • http://goo.gl/aGMpC6
  • http://goo.gl/hIYeen

You can also read ...

BMW’s Tech-Stuffed Concept SUV Heralds Fancy, Electric Future
Changing notions of what customers want from cars have pushed...
Tesla Hits New Speed Bump
Tesla Inc’s Chief Executive Officer Elon Musk on Sunday...
Oil & Gas Sector Most Conducive for Business
The research arm of Iran’s Parliament has conducted a first-of...
3 CBI Officials  to Leave
Following the recent passage of the law banning the employment...
CBA Concerned About Forex Outflow to Iran
The Central Bank of Afghanistan raised concerns about the...
Anzali Port to Be Connected to National Railroad
Anzali Port in the northern Gilan Province will be connected,...
Mineral Trade Surplus Hits $2.9b
Iran exported more than 25.47 million tons of mineral products...
Departure Tax Revenues  Up 117 Percent
The government earned 3 trillion rials ($24 million) from...