Daimler Trucks Seeks Partners in Iran

The commercial vehicles division of Germany’s Daimler AG‘s says it is in talks with potential partners in Iran to resume production in the country as sanctions look set to be lifted, reports PressTV.

Roland Schneider, president and CEO of Daimler Commercial Vehicles in the Middle East and North Africa, said the company intends to open a representative office in Iran “as soon as possible,” adding, “Iran offers great opportunities for Daimler Commercial Vehicles, and we are currently preparing to re-enter this market.

In August, Iran Khodro Managing Director Hashem Yekke-Zare said his company and Daimler’s subsidiary Mercedes-Benz would sign a deal “soon” for production of luxury cars and commercial vehicles.

The German company, he said, intended to buy 30 percent of shares in the Iranian Diesel Engine Manufacturing (IDEM) in Tabriz to build diesel engines.

According to PressTV, Mercedes-Benz gave up its 30 percent stake in IDEM and abandoned plans to export three-axle trucks to Iran in 2010 in fear of reprisals from the US where Daimler reportedly controls about 40 percent of the heavy truck market.

Tehran-based media reports have said Mercedes-Benz paid Iran Khodro 42 million euros in compensation for leaving the country in breach of its obligations.

Another German company, Volkswagen, has held negotiations with Iran Khodro for production of cars and investment in Iran, as well as transfer of technology, Yekke-Zare has said.

(Source: PressTV)

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