Luxury Suzuki cars to hit Iranian roads

Business Materials 2 September 2015 16:40 (UTC +04:00)

Baku, Azerbaijan, Sept. 2

By Fatih Karimov - Trend: Japanese carmaker Suzuki will supply four cars to the Iranian market.

A group of Suzuki managers has been negotiating with Iranian carmaker Iran Khodro over recent days. They have come to terms to produce four luxury cars in Iran, Fars news agency reported September 2.

Although an exact date has not been specified, the cars will be sold at prices between 800 million rials (about $23,500) and 1,280 million rials (about $37,500).

Iranian industry minister Mohsen Salehinia said in April that foreign carmakers should provide 50 percent of the investment in case they are willing to join the Iranian market.

"The ministry has set conditions about Iranian carmakers' cooperation with foreign ones," he said, adding the carmakers should finance 50 percent of the ventures in Iran.

"Foreign auto manufacturers should also join launching research and developments centers as well as designing joint platform," he added.

Edited by CN