Iranian vehicle manufacturer to widen cooperation with Italian IVECO

Business Materials 11 March 2018 10:32 (UTC +04:00)

Baku, Azerbaijan, March 11

By Khalid Kazimov – Trend:

Iranian commercial vehicle manufacturer, Zamyad, and Turin-based IVECO have agreed to expand cooperation.

Under a recent agreement, the sides have decided to manufacture and offer new and highly-qualified products of the European manufacturer in Iran. Therefore IVECO will increase the volume of its exports of CKD (Completely Knocked Down) car parts to Iran, Zamyad announced.

Zamyad CEO Mohammad Zarepour-Ashkzari has said that his company will launch the production of new IVECO vehicles in the coming fiscal year (starting March 21).

Speaking about a scheme proposed by Iranian President Hassan Rouhani to renew the country’s outdated navigation fleet, the CEO expressed Zamyad’s interest in participating in the project.

Iranian President Hassan Rouhani in February introduced the government plans to launch the scheme on replacing the aged commercial vehicles with the new ones.

The government estimates that there are about 200,000 aged trucks and mini-trucks across the country

The scheme has envisaged that the owners will pay only half of the price of the new vehicle out of which 20 percent will be made in down payment and the rest will be paid through banking loans.