EghtesadOnline: Bangalore-based Advanced Structures India (ASI) engineering company, which develops auto parts products, is interested in entering the Iranian market.
The small company with 45 engineers now plans to extend its business to several new markets including Iran with sanctions being removed on doing trade, AutoCar Professional magazine reported this week. According to Vaibhav B Kumar, ASI’s managing director, the firm is looking to enter the Iranian market with Chinese automotive partners in 2019. “Three Chinese automobile manufacturers have approached us. They found and identified us through word of mouth and the technical information that we have hosted on our website. The company claims to offer its competencies in vehicle testing, performance benchmarking, teardown, value engineering, cost modeling, full vehicle development and turnkey projects. Notably, ASI has capitalized on the requirement of reducing product development time, which has now become a critical parameter that nearly defines the success of any project, Financial Tribune reported.