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Iran plans to manufacture 11 new local cars by 2025

Business Materials 5 July 2011 17:24
Iranian largest auto-maker company (IKCO) plans to manufacture at least 11 new home-made cars by 2025
Iran plans to manufacture 11 new local cars by 2025

Iranian largest auto-maker company (IKCO) plans to manufacture at least 11 new home-made cars by 2025, reported ISNA.

At least 50 percent of products portfolio have been planned to be allocated to domestic brands by 2025.

IKCO President and Chief Executive Officer (CEO) Javad Najmeddin said, "the plan would bring about a golden opportunity for auto industry development. IKCO has arranged a comprehensive program for this purpose part of which includes design and production of two new platforms and 11 new cars in a seven-year program."

Carmakers all around the world mostly design and produce common platforms due to the high cost of platform design. For the same reason, IKCO has adopted measures to fulfill the project at the lowest possible cost or in a joint venture with foreign investors.

Najmeddin reiterated that according to the targets and policies of auto industry in 2025 perspective, Iranian carmakers must produce three million cars and one third of which are to be exported.

He continued IKCO aims to employ new marketing methods and techniques to develop its global market share and export 16 percent of its total products in the next three years. This amount is going to be increased to 30 percent of IKCO's total products in ten years.

Najmeddin referred to hybrid engines as an effective strategy to boost cars' fuel economy and underscored that hybrids play an important role in boosting up fuel efficiency and lowering cars' emission.

IKCO noted hybrid Samand (IKCO first locally-made car) would hit the market by the end of the Iranian calendar year, mid March 2012.

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