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EghtesadOnline: SAIPA has signed a contract with Hyundai PowerTech Company, a subsidiary of the South Korean giant Hyundai Motor Co., for the production of gearboxes.

The deal was signed by the director of SAIPA’s subsidiary Mega Motor Co. Mohammadreza Sheikh-Attar and CEO of Hyundai PowerTech Hae-Jin Kim on Oct. 28 in Tehran, local automotive website Khodro Nevis reported.

Mega Motors was established in 1993, as part of SAIPA’s plans to indigenize auto parts production. The company has produced engines, gearboxes, axles and other mechanical parts for the SAIPA group.

Through the deal, according to Financial Tribune, two different models of gearboxes will be produced. Sheikh-Attar says “In the first phase gearboxes will be made for SAIPA’s platform SP100.”

SP100 is SAIPA’s new platform on which several new models are to be manufactured.

Cars produced on this platform will come with an electronic stability control system.

The Mega Motor chief says as per the contract “stronger gearboxes” will be produced that can be used on crossovers and SUVs.

He did not mention the volume of gearboxes to be manufactured and whether or not the locally-produced transmission systems will also be exported.

Late last week, Iran Khodro signed a joint production deal with the same South Korean company to produce gearboxes in the country.

As per the deal, 400,000 six-speed automatic gearboxes will be produced annually in Iran. The gearboxes are to be used on IKCO’s new vehicles—some manufactured in collaboration with foreign companies, including Peugeot.

 

Saipa Hyundai Motor Hyundai PowerTech Iran gearboxes Mega Motor