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Date: 5/10/2017      Time: 09:56
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Multilateral MOU & Contract Signed for

IKCO New Platforms & Products Development

A ten-sided MOU has been signed between Iran Khodro and nine other domestic and foreign sides to design and develop a series of platforms and products for IKCO.

The agreement was signed between IKCO and Vice-Presidency for Science and Technology, Sharif University of Technology, Amirkabir University of Technology, Italian car design firm Pininfarina, a German firm involved in manufacturing new engines, two gearbox designers and manufactures from Belgian and South Korea and another German firm active in axel and component designing.

In addition to this MOU, IKCO has also signed a separate contract with the Italian firm based on which the Italian side is supposed to design and develop IKCO’s new vehicles through cooperation with the above-mentioned sides.

The necessary investment for the contract has been estimated to amount to 270 million dollars. The legal arrangements for its implementation are underway in Iran.

This is the first and largest international contract ever signed by an Iranian company.

Addressing the signing ceremony of the MOU and contract, Iran Khodro’s CEO said the first vehicles based on the new platform including hybrid and electric vehicles are set to get prepared within the next two and half years.

Hashem Yekehzare said IKCO had already invited Amirkabir and Sharif universities to take part in the joint production of hybrid and electric vehicles.

“Since our earlier days in IKCO, we’ve attached significant importance to platform development. However, based on our agreement with Peugeot, we are entitled to use the French company’s platforms for our products as well,” he noted.

Following the implementation of JCPOA, according to him, IKCO and Peugeot began to mass produce their first vehicles in a ceremony attended by Iranian President Hassan Rouhani.

He added Peugeot 301 is set to enter the market by the end of this Iranian year followed by another model coming to the market next year.

The full implementation of this contract will lead to the development of privileged platforms for IKCO to produce vehicles in various models from sedan to hatchback, crossover, SUV, hybrid and electric.

The first vehicle – based on this contract- is expected to enter the Iranian market by the next two and half years.

IKCO’s Deputy CEO for Design and Development, Kamran Sepehri said the agreement was signed as part of a strategic plan of Iran Khodro to increase its share in the domestic and regional markets.

He noted that to survive, IKCO needed to manufacture vehicles capable of competing with their foreign rivals.

“Designing and developing a platform comprising over 60 percent of a vehicle will significantly contribute to the diversification of our vehicles,” he said.

He went on saying that another strategic goal of IKCO was to export 30 percent of its products by 2025, adding promoting local knowhow and technology had been among the main goals of the consortium.

Elaborating on the consortium, IKCO’s deputy CEO said the new vehicles built on the new platforms will meet local and European standards.

He said the new platforms would diversify IKCO’s product portfolio, adding the new hybrid and electric vehicles would be built on the new platforms.

Sepehri noted that the new platforms would save lots of time and money and said modular platforms covered a wide range of vehicles in different models.

“We will produce 23 vehicles based on two platforms,” he concluded.




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