Economy, Auto

IKCO-Fiat Deal "Again" Near Conclusion

IKCO-Fiat Deal "Again" Near ConclusionIKCO-Fiat Deal "Again" Near Conclusion

The Italy-Iran Chamber of Commerce has again announced that the long-awaited deal between Iran Khodro and Fiat Chrysler is in the offing.

Ahmad Pourfallah, the co-chair of the chamber, repeated claims that although they did not want details to be released about any possible joint cooperation, he could confirm that both sides are on the verge of signing the joint venture deal.

In the past, Financial Tribune contacted Fiat for confirming "similiar" statements by the chamber official, which denied any deal was in process or under consideration.

Earlier in April, Iran Khodro's Communications and International Relations Director Ali Mesrian rejected reports by Iranian news agencies that Fiat-Chrysler has bought shares in a local car manufacturing company.

The company official further said, "Any unofficial speculation or comment on his company's cooperation with global carmakers will interfere with the process of negotiations."

Mesrian said, "Over the past few days, comments on IKCO's cooperation with global carmakers have been published while none of these is based in reality."

When contacted, Fiat-Chrysler's Italian PR department responded by saying, "They had no information on this issue."

Over the past year, several cars have been touted as possible market entry vehicles, including a raft of low-cost Fiat models and rebadged Chrysler cars.