61377
Hyundai, Kerman Motor Sign Deal to Produce Elantra in Iran
Economy, Domestic Economy

Hyundai, Kerman Motor Sign Deal to Produce Elantra in Iran

South Korea's Hyundai Motors, Middle East and Africa office director, Mike Song, signed a production agreement with Iran's Kerman Motors to start production of the Elantra model in the local firm's Kerman production facility, in the south of the country. 

The deal signed in Kerman on March 13 by representatives of both firms.

Saman Firouzi, chief executive of Kerman Motor, said that his firm will also launch Hyundai Accent production line in September 2017.

"Our target is to employ 10,000 people by 2019," he added.

The company previously agreed with Hyundai at the end of 2016 to begin production of the Hyundai i10 and i20 hatchback models which are likely to go on sale following the Iranian New Year.

In 2015 Financial Tribune reported that Hyundai was looking to work independently of other car companies in the country following a meeting with Iran's Ministry of Industries, Mining and Trade. 

The new agreement follows a similar deal with Kerman Motors dating back to 2004 when the company used to produce the Accent model in the company's base.

Short URL : https://goo.gl/Xawv2o
  1. https://goo.gl/mrgzmR
  • https://goo.gl/TnNJP6
  • https://goo.gl/EdDCQx
  • https://goo.gl/iYHTup
  • https://goo.gl/44onhR

You can also read ...

EU Rushes to Protect Economic Interests in Iran
With a reputation of a slow-working institution that only gets...
Swiss Firms Preparing to Quit Iranian  Market Over US Sanctions Risks
Several Swiss newspapers on Sunday reported that Swiss firms...
Chabahar’s Shahid Beheshti Port: Cheapest Business Option in Region
With new moderated prices for services offered at Chabahar’s...
German Companies Cannot Be  “Totally Shielded” From US Iran Move
The German government will help German firms with business in...
Google Stands to Lose Up to $4.3b in UK Privacy Suit
Google appeared in a UK court on Monday to argue against a...
HTC’s Next Flagship Specs Leaked
A testing subdomain on HTC’s website has confirmed the already...
Russian Railways: Iranian Project Not Subject to US Sanctions
The state monopoly Russian Railways considers its project on...
New Report Reveals Banks’ NPL Ratio Gap
A senior member of Majlis Article 90 Commission presented the...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus