Tripartite contract of Renault, Idro and Negin Khodro

Producing of 150,000 vehicles in the first phase with investments of 660 million euros

Asre Khodro - The chairman of the organization for expansion and modernization said that the first production of this contract will enter into market with two New Duster and New Sibol dealers in late next year.

Monday 07 August 2017 - 01:53:00

Producing of 150,000 vehicles in the first phase with investments of 660 million euros

Reporting "Asre Khodro", Mansour Moazami, in a special announcement about the contract with Renault, mentioned:
In the first phase of the contract, 150,000 vehicles will be produced, with an investment of 660 million euros.
These two products will be provided in the first phase domestically, which is being completed, and the designing will began after the delivery of the executive task , Moazami continued.
He referred to Iran and Renault stock and stated : 60% of the shares were for Renault and 40% for Iran, which 20% for the IDRO and the rest for the private sector.
In this contract stipulates that 30% of the products with the responsibility of Renault should be exported , which includes the final product and the parts, he added.
He continued, in the second phase of the contract which begin in 2019, 150,000 vehicles will be localized, but this phase has not yet been finalized.
He stated that the entrance of IDRO is completely legal. According to Article 44, the government can have 20 percent market share in Group 2.
Moazami emphasized that carmakers have no choice but to integrate to survive in order to increase their capabilities, adding that the government can give up to 20% of its legal share at any time, so that 40% stake in IDRO last year has reduced to 20% At the time of the contract, which is tomorrow.
IDRO has been in the process of implementing and concluding the agreement for more than 10 months, He remarked.
He said that there are currently 1,200 manufacturing units in the country, continued : "The automotive industry does not make any sense without a parts production.

In the car contracts, part of the responsibility of foreign auto makers is to strengthen domestic manufacturers, and the contract is required to help a number of unit makers to update and reduce prices, Moazami added.
He emphasized that car contracts are not publicly available because of their nature.

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