Baku, Azerbaijan, Oct. 30
By Fatih Karimov – Trend:
Saipa, Iran’s second largest carmaker, and Hyundai Powertech have signed a deal for manufacturing automatic transmission systems.
The deal was signed between Mega Motor, one of the main Iranian car parts suppliers, subsidiary of Saipa and the South Korean company, Saipa said in a message.
Mega Motor, manufactures engines, gear boxes and axles for Saipa company.
Mohammad Reza Sheikh-Attar, the managing director of Mega Motor, said that the under the deal, which is the second cooperation accord between the two parties, automatic gearbox with torque of 270 newton metres will be supplied for new car models, which will be manufactured based on the SP100 Tiba, SP0 and other platforms.
Last week, Hyundai Powertech also signed a similar deal with Iran Khodro (IKCO), an Iranian leading carmaker.
Under the deal, the Asian company is expected to supply 400,000 new automatic transmission systems to the Iranian carmaker, for installing on the new products of the Iranian leading automaker.