car-industry-iran

Iran’s Defense Ministry extends helping hand to carmakers

Financial Tribune – Iran’s Defense Ministry is set to share its technological capabilities with local car companies Iran Khodro (IKCO) and SAIPA to curb the industry’s reliance on foreign auto parts suppliers.

Iranian car companies depend on auto parts imports—especially for key electronics—for producing vehicles. Following the imposition of harsh US sanctions against Tehran, the local firms’ ties to the global supply chain were disrupted and parts imports began to trickle.

In a talk with the Persian daily, Iran, a deputy director at SAIPA said, “With the help of Defense Ministry, homegrown substitutes for key imported car parts are to be produced in Iran to curb the industry’s reliance on the global supply chain.”