Baku, Azerbaijan, Feb. 10
By Khalid Kazimov - Trend:
Iran's Zagros Khodro car manufacturing company in Borujerd, Lorestan has launched a new production line for MVM sedans, Mehr news agency reported Feb. 10.
MVM is the name for a series of cars manufactured by the country's Modiran Vehicle Manufacturing (MVM). MVM is a subsidiary of Kerman Khodro, an Iranian assembler of Volkswagens that also used to assemble a version of the Daewoo Matiz for the local market.
Zagros Khodro CEO Mehrdad Gholami said that the company has launched the line by investing 30 billion rials (34500 rials making USD1).
The production line comes with an output of 60 vehicles and has created 300 job positions, he added.
The company also produces Gentoo sedans and MPV vans, which Gholami said are going to be produced in greater number in the next Iranian year (starting Mar. 21) as a line previously used for the production of pickups is going to be used to assemble these models.
Some 930,449 cars have been produced in Iran in the first ten months of the current Iranian fiscal year (March 21-December 22, 2014), 61.4 percent more year on year.
The Islamic Republic produced 989,110 cars in 2012, which made the country Asia 's eighth largest car manufacturer. Iran also stood at the world's 18th place in the mentioned year.
Iran's automobile output faced a 40 percent decrease in 2012 due to the sanctions. The country was Asia 's fifth largest car manufacturer in 2011, with a total output of 1,648,505.
Western countries suspended certain sanctions against Iran as the Geneva nuclear deal came into force on January 20. Iran was permitted to import materials for its auto-manufacturing sector as a result of the nuclear deal implementation, which has led to a sharp increase in the country's auto output in recent months.
Edited by CN