Italian design firm Pininfarina S.p.A has announced the closing of a commercial agreement with Iran Khodro (IKCO).
The agreement foresees that Pininfarina will develop a modular automotive platform, able to house at least four different vehicles, and the first passenger car of the medium segment of the market.
Activities will span from the definition of the concept architecture and its development, the conception of the style of the car, the product development through the virtual and physical validation for the mass production and support to start of production.
The commercial agreement, worth about 70M€, will last 36 months.
The Chief Executive Officer of Pininfarina Group Silvio Pietro Angori stated:
“The agreement with Iran Khodro represents another important step in the growth strategy of Pininfarina on markets of the new Silk Road and the Middle East.
“We are happy to contribute to the development of the Iranian Automotive industry through a very significant style and engineering program for our company.”