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.�