Economy, Auto

New IKAP Director Named

New IKAP Director  NamedNew IKAP Director  Named

Mohammad Reza Motamed, Iran Khodro Company's vice president for engineering, has been appointed as the director of the IKCO-Peugeot joint venture known as IKAP. Hashem Yekezare, IKCO's CEO, announced the appointment following the sudden death of Morad Majlesi the other week. In addition to being IKCO's engineering VP, Motamed had also previously served as production deputy director of Tondar L90 model (Renault Logan) and also director of IKCO's paint facility. He is a former board member of Iran Khodro's Tabriz Branch that produces vehicles for Iran's northwestern and southern Caucasus regions. IKCO's and PSA Groupe's new deal are to produce new vehicles under both brand names for local and international sales.