Economy, Auto

Iranian Auto Parts for 40 Countries

Iranian Auto Parts for 40 CountriesIranian Auto Parts for 40 Countries

Iran exports high-quality automobile components to 40 countries, a member of the Iranian Auto Parts Manufacturers Association said.

Farhad Behnia also told a press conference on Tuesday that despite shortcomings in the country’s auto part industry, factories produce and export parts to 40 foreign automakers, including Mercedes-Benz, Volvo and Toyota, Mehr News Agency reported.

“Nevertheless, these shortcomings pertain to lack of mold, liquidity and production lines,” he added.

The official announced that Iranian and foreign automakers have signed new agreements to expand the country’s automobile industry.

Behnia noted that foreign automakers vigorously seek to enter the Iranian market for its attractiveness and capability to fulfill their demands.

“Therefore, Iranian automakers need to make the most out of the emerging opportunity in favor of national interests,” he said.

“Auto parts manufacturers have now received many new platforms to be produced in partnership with local and foreign automakers while we are awaiting the official implementation of contracts.”

Behnia stressed that the engine of a new vehicle to be produced by Peugeot in Iran has been indigenized by up to 70%.

Iran’s share of the international parts market is expected to increase incrementally, as foreign automakers set up operations in the Islamic Republic.