featuredThe CEO of Iran Khodro (IKCO) has announced that his company has recently signed three contracts with the German automaker Mercedes-Benz to launch joint ventures.
Speaking to reporters in Tehran, Hashem Yeke Zare said three cooperation agreements have been signed between the IKCO and Mercedes-Benz.
He added that two more contracts between the two companies are in their final stages and will be finalized in the near future.
The official also pointed to a recent contract with France’s PSA Peugeot Citroën, saying the first series of the Peugeot 2008 cars manufactured by the Iran Khodro Company will enter the market in coming months.
Iran’s automotive industry is the second largest in the country after its oil and gas industry, accounting for 10% of the country’s Gross Domestic Product (GDP).
(Source: Tasnim, under Creative Commons licence)