Baku, Azerbaijan, Oct. 25
By Khalid Kazimov – Trend:
Iran Khodro (IKCO), an Iranian leading carmaker, and Hyundai Powertech have signed a deal for the supply of automatic transmission systems.
Under the deal, the Asian company is expected to supply 400,000 new automatic transmission systems to the Iranian carmakers, the official news website of Iran Khodro reported.
The automatic transmission systems are projected to be installed on the new products of the Iranian leading automaker.
Iran Khodro has announced that it seeks to grab more shares from the domestic and international markets through the new contract.
Iran Khodro is also planning to install the new automatic transmission systems on its hybrid vehicles in future.
The company officials earlier told Trend that IKCO is slated to launch the production of hybrid and electric cars in the near future.
According to the industry ministry, Iran Khodro manufactured 273,441 units of passenger cars over the first five months of the current fiscal year (starting March 20), indicating a rise of 16.8 year-on-year.