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EghtesadOnline: The recently revived German luxury mark Borgward says it is negotiating with Iranian carmakers to launch joint production lines in the country.

Deputy director Tom Anliker, said he recently visited Iran and met local automakers about prospects for a joint venture, Asbe Bokhar reported on Friday.

“Negotiations have been held between Borgward and major Iranian carmakers including Iran Khodro and Bahman Group,” he was quoted as saying.

Anliker added “There is significant demand for SUVs and crossovers in the Iranian market. Borgward intends to meet this needm,” according to Financial Tribune.

Earlier local automotive websites reported that Bahman Group is set to produce two models of Borgward SUVs, namely the BX5 and BX7. Neither Bahman Group nor the German company have so far confirmed the report.

The Borgward BX7 (BMW X5 size) is likely to retail in the local market at 1.4 billion rials ($37,000) which is roughly the same price as the recently released new-generation Renault Koleos SUV. BX7 is Borgward’s first new car in over 50 years and was unveiled at the 2015 International Motor Show.

The smaller BX5 (BMW X3 size) would likely carry a 1.2 billion rials ($32,000) tag pegging it against the Hyundai and Kia models in the same league.

Both models share the same architecture and the same 1.8 and 2.0-liter four-cylinder engines. Torque is distributed briskly by a seven-speed dual clutch transmission; the top-of-the-line power plant produces 225bhp, the plug-in hybrid churns out 401bhp and a combined torque of 479lb ft.

Although Bahman Group has not officially announced its plans to produce Borgward cars, sources close to the company have said that the first units of the model will be in the market later this year.

The company is currently testing the models, and several units of Borgward cars have been seen on the company premises.

A source close to the Bahman Motor deal, on condition of anonymity, told the paper Borgward would invest $1.5 million in marketing its vehicles in Iran.

Borgward’s entry would be the latest among several international carmakers converging on the Iranian market.

Iran Auto Iran auto market Iran auto industry Borgward Iran-Borgward