EghtesadOnline: The long-running debate over halting the production of SAIPA’s small car Pride has reignited, after Iran Traffic Police chief said license plates will not be issued for the vehicle as of March 2020.
EghtesadOnline: Parts manufacturer SAPCO, affiliated to Iranian carmaker SAIPA, has signed agreements worth 4.2 trillion rials ($37 million) with Ferdowsi University of Mashhad and several industrial units based in Khorasan Razavi Province.
EghtesadOnline: By October 2018, the accumulated debts of Iranian carmakers, Iran Khodro (IKCO) and SAIPA, had reached 1 quadrillion rials ($8.8 billion), the industries minister said in a recent interview.
EghtesadOnline: Over the past 11 years, 34% of those who lost their lives in road accidents in Iran, constituting 70,056 victims, died in SAIPA’s small city car, Pride.
EghtesadOnline: Insurance companies have stopped offering third party vehicle insurance to new vehicles produced by SAIPA, Iran's second-largest automaker, due to the carmaker’s pattern of failure to settle its mountain of debts.
EghtesadOnline: The Iranian government plans to sell off its share in the two major automotive companies: Iran Khodro (IKCO) and SAIPA.
EghtesadOnline: Iranian car manufacturer SAIPA has signed a research and development agreement with the University of Tehran to use academic potentials for boosting the key sector.
EghtesadOnline: Iranian car company SAIPA and its Syrian partner SIVECO are to produce the Chinese-derived sedan Brilliance H330 in Damascus, Aleppo, Lattakia, Homs and Hama.
EghtesadOnline: Pars Khodro, a subsidiary of Iranian car company SAIPA, reportedly presold 36,000 Renault cars which it now says it cannot deliver because the new US sanctions have disrupted the supply of parts.
EghtesadOnline: To help again rescue the dysfunctional local auto industry, the Central Bank of Iran agreed last month to lend €844 million to the two main companies, Iran Khodro and SAIPA.