Major Iranian car manufacturers have seen sales growth over the past months despite U.S. sanctions.
Iranian Deputy Minister of Industry, Mine and Trade Alireza Peymanpak said on Saturday that an Iranian automaker is scheduled to launch a production line in Armenia in a bid to begin exports to the Eurasian Economic Union (EAEU).
Iran’s industry ministry (MIMT) figures show vehicle output in the country rose by 6% in the first half of the year that began in late March compared with the same period in 2021.
Iran’s largest car manufacturer the IKCO has unveiled its first all-electric car for a commercial launch in March 2023.
Major Iranian automaker Iran Khodro Company (IKCO) has begun the exports of two products to neighboring Armenia.
Alireza Peimanpak, Head of Iran’s Trade Promotion Organization and a Deputy Minister of Industry, Mine and Trade, proposed setting up an Iranian auto production line in Armenia which was welcomed by his Armenian counterpart.
An agreement have been signed between Iran Khodro Company (IKCO) and Saipa Group, the two major Iranian carmakers, for joint production of a budget car.
The Iranian government has finally authorized a law allowing the imports of finished cars more than four years after the country imposed a ban on such imports to protect local car manufacturers and to cut back on hard currency spending.
Iranian automotive companies and their counterparts in Russia have signed some $700 million worth of deals to expand their cooperation at a time the two countries are shoring up their defenses against Western sanctions.
Iran’s Minister of Industry, Mine, and Trade Reza Fatemi Amin said on Saturday that presence in MIMS Automobility Moscow 2022 provides a chance for offering high-tech services that should be seized.