Tag Archives | IKCO

S. Korean Envoy Sees Bright Future for Iran’s Auto Industry

South Korea’s ambassador to Tehran dismissed the notion that Iran is just a suitable market for selling cars and auto parts, predicting a bright future for the Iranian automobile industry’s presence in global markets. Iran is not just a place for the sale of vehicles and automobile components, and will become a “serious rival” for […]

Iran to Finalize Deal with Renault in Weeks

The Iranian Minister of Trade and Industry Mohammad Reza Nematzadeh said a much-awaited contract with French automaker Renault is going to be signed by March 20. The deal with Renault is in the final stages, Nematzadeh told  the Tasnim News Agency on Monday. “They (Renault officials) have promised that it (the deal) would be signed […]

Iran Khodro signs three Contracts with Mercedes-Benz

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 […]

Iran Stops Producing 11 Truck Models

During the Iranian calendar month to 21st December, the production of 11 heavy duty vehicles and pickup trucks in Iran has been stopped. Iran Khodro Diesel (IKD), a subsidiary of Iran’s largest car manufacturer, stopped production of two heavy duty vehicles — the Mercedes-Benz tipper truck LK 2624 and Mercedes-Benz Axor K3335 — and the recently-introduced […]

Iran Khodro Unveils New Models

By John Lee. Iran Khodro (IKCO), Iran’s largest carmaker, has announced that two new products — the Peugeot 207i and Dena Plus — will enter mass production in the second quarter of 2017. Keyvan Vaziri, IKCO Deputy CEO in New Product Development told the press that the Dena (pictured) is the first Iranian sedan with […]

Iran Khodro Sells Taxis to Ivory Coast

Iran’s leading car manufacturer, Iran Khodro Industrial Group (IKCO), has taken the first step to renew the taxi fleet of Ivory Coast by exporting a number of its vehicles to the African country. The delivery of a number of Samand and Runna vehicles to Ivory Coast’s Taxi Syndicate was made in a ceremony attended by […]

Iran to Produce Cars in Algeria

The largest car manufacturer in the Middle East, Iran Khodro (IKCO), has taken the first step in establishing a production site in Algeria by launching a joint venture with the African country called IKCO-ALGERIA, and dispatching the required equipment for setting up a production line there. In a meeting with the CEO of Algerian industrial […]

How Iran’s Auto Industry became a Political Football

By Alireza Ramezani, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iranian hard-liners have launched a new attack on the administration of President Hassan Rouhani, this time focusing on the country’s automotive industry. At an Oct. 25 parliamentary hearing, the Industries and Mines Committee grilled […]

Renault steps up Business in Iran, forms new JV

Renault announced on Friday that an agreement has been signed for the creation of a joint venture with the Industrial Development & Renovation Organization of Iran (IDRO). Renault will be the majority shareholder. “The Iranian government wants to attract foreign investment in the Iranian car industry to bring competitive new products benefiting Iranian customers with […]

Peugeot to Sell over 450,000 Vehicles in Iran in 2016-2017

The CEO of PSA Peugeot Citroen said the French carmaker plans to sell over 150,000 Peugeot vehicles in Iran in the second half of this year, a report said. Carlos Tavares (pictured) told reporters at the Paris autoshow on Thursday that Peugeot will sell over 150,000 vehicles in 2016 as well as over 300,000 in […]

Production up at Iran Khodro

Iran Khodro (IKCO) produced 57,879 sedans and pick-ups in the last Iranian month i.e. July 22 to August 21, the highest volume in the past 5 months. Comparing to the same month last year, production increased 36 percent from 42,449 to 57,879 units. The company produced 244,265 units in the first 5 months, up 11,000 […]

Iran Khodro to enter Russian Market

On the side line of the international car show in Moscow, 12 Russian dealerships in different cities expressed their readiness to sell Iran Khodro (IKCO) cars in the Russian market. According to these dealerships, the positive image of the IKCO Samand has paved the way for the market demand for IKCO cars. The attempt to […]

IKCO to build Plant in Azerbaijan

By John Lee. Iran Khodro (IKCO) is to set up a new production line in Naft Chaleh in Azerbaijan to make its Dena, Runna, Samand and Soren models. The project is expected to be finished by the first half of next year, and employ 300 people. The vehicles are expected to be put on sale in […]

Iran, Germany sign deal for 3-Cylinder Car Engine

By John Lee. Iran Khodro (IKCO) and the German automotive parts manufacturer Mahle GmbH have signed a deal for joint design and manufacture of a three-cylinder car engine. Under the deal, worth around 125 million euros, three-cylinder engines with power output of 120-160 HP and fuel consumption of 4.7 litres per 100 kilometers will be […]

Iran Khodro in talks with LG to make Electric Vehicles

By John Lee. Iran Khodro‘s CEO Hashem Yekke-Zare has told Bloomberg that his company is in talks with South Korea’s LG International to develop electric vehicles for the Iranian market, adding that a deal may be reached by autumn. The Korean company would supply batteries and other components and install charging stations, while Iran Khodro would […]

Peugeot-Citroen, Iran Khodro in $450m Iran Deal

France’s PSA Group — maker of Peugeot and Citroen — and Iran Khodro (IKCO) signed the final joint venture agreement on Tuesday to produce latest-generation vehicles in Iran. Commenting on the agreement, Jean-Christophe Quémard, Executive Vice-President, Middle East & Africa, said: “Today marks a crucial milestone in our project with Iran Khodro. The two partners […]

India’s Tata Motors in JV Talks with Iran Khodro

India’s largest carmaker, Tata Motors, said it is in talks with Iran’s leading vehicle manufacturer Iran Khodro to set up a joint venture for assembling its petrol cars in Iran. According to a report carried by the Indian Express, a number of Indian cars, including Tiago, Bolt and Zest, which are powered by Tata Motors’ […]

Iran revs up for Auto Revolution

By Alireza Ramezani, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The auto giant PSA Peugeot Citroen has become the first foreign company since the Jan. 16 implementation of the Joint Comprehensive Plan of Action to obtain a license from the Iranian government to invest […]

Iran ‘Must Privatise Car Industry’ – Rouhani

By John Lee. President Hassan Rouhani said on Tuesday that Iran’s car industry “must be completely privatised” to meet the government’s goal of turning it into a global competitor. The Iranian state currently controls roughly half of the auto sector. He added that Iranian carmakers, which form the second biggest sub-sector of the economy behind oil, […]

IKCO Sets Up Pickup Assembly Line in Iraq

By John Lee. Mohammad Reza Nematzadeh, Iranian minister of Industry, Trade and Mines, has opened a new assembly line at Iran Khodro (IKCO)‘s assembly plant in Iskandariya, Iraq. The factory has the capacity to manufacture 30 Arisan pickup trucks per day; the Arisan, also called the “PU1”, replaces the Paykan pickup in Iran’s market. Parts […]