India's Tata, Iran Khodro Discuss Joint Venture
Economy, Business And Markets

India's Tata, Iran Khodro Discuss Joint Venture

Iran Khodro Company is in talks with India's Tata Motors to set up a joint venture for assembling its gasoline cars in Iran, as Tata looks to tap the fast growing market that has just emerged from sanctions.
Tata Motors is talking with the Iranian car manufacturer for a joint venture to assemble knocked down units of the gasoline versions of its models, including the latest compact car Tiago, Bolt and Zest, which are powered by the company’s new Revotron gasoline engines, sources said in Tehran.
Knocked down version of the cars will be imported and assembled at Iran Khodro’s manufacturing facility after adding local contents like tires and batteries, The Hindu Business Line reported.
Tata Motors will use Iran Khodro’s sales network to sell the cars.
The branding will be of Tata Motors and Iran Khodro will be just a contract manufacturer, they said, adding that Tata Motors will start assembling in Iran in less than two years.
Initially, Tata Motors is looking at 100,000 cars a year, which will be gradually ramped up.
Production at the factory, which may be located in suburban Tehran and Masad, is slated to begin by 2018.
Iran Khodro had earlier this year renewed its partnership with French manufacturer PSA Peugeot Citroen.
Iran Khodro Company (public joint stock) was founded in August 1962. Starting with contract manufacturing of sedan Paykan for British firm Rootes in 1966, it has manufactured for France’s Peugeot as well as the Tondar 90 sedan (Renault Logan). It manufactures several Chinese models now.
Peugeot had earlier this year signed a contract with Iran Khodro to start a joint venture that will make three new models. Its January 2016 deal marks its return to Iran after a four-year absence.
Iran Khodro, which is 14%-owned by the Iranian government, was Peugeot’s former partner before the French company’s decision to shut down its operations in 2012 in the wake of international sanctions.
Before 2012, Peugeot would send parts, which then were assembled in Iranian plants.

Short URL : http://goo.gl/jZ1qFO
  1. http://goo.gl/GgIZ4W
  • http://goo.gl/Pnnvdc
  • http://goo.gl/F7h2oo
  • http://goo.gl/Qgl42r
  • http://goo.gl/WUhPkp

You can also read ...

Alcatel’s Android Go Cellphone in the Offing
Two of the phones Alcatel revealed last month will be coming...
NASA Seeks Help to Check Satellites
NASA is asking all cloud gazers to snap photos of the sky and...
Iran has signed a contract with China Railway Group Limited in 2015 to build a 415-km (260-mile) high-speed north-south rail line between Tehran and Isfahan via Qom.
The Economy Ministry sold 2 trillion rials ($41.6 million) of...
Trade With Afghanistan Tops $2b
Iran and Afghanistan exchanged 5.32 million tons of non-oil...
Banque Delubac Ready to Service Iranian Businesses
Executives with Banque Delubac and Cie, an independent French...
Iran-Lithuania Trade Falls 44% in 2017
Trade between Iran and Lithuania stood at more than €11.1...
$92m Worth of Gov’t Debts to Be Cleared in Swap Deal
The government has decided to clear over 4.45 trillion rials...
Gov’t, Workers, Employers Deadlocked in Setting Minimum Wage
With only a day left for the Supreme Labor Council to set the...