Chairman of the Board of Directors of Pars Industrial Development Foundation Company said Wednesday that Italian auto manufacturing giant Fiat will resume car production in Iran.
Speaking to reporters, Manouchehr Gharavi said that the Iranian company and Fiat have signed an agreement stipulating for Fiat to produce six of the most successful and popular models and parts in Iran.
Beginning in the second half the current year, the models will be produced using dual fuel types -- gasoline and CNG -- of which the Fiat is renowned producer in the world.
Initially over 35 percent of the spare parts will be manufactured in Iran. Also, in the initial phase, more than 100,000 cars are to be manufactured increasing to 250,000 in later phases.
Gharavi added that the company has invested 200 million euros in the deal. The cars will be priced in the range of rls 80 million to rls 170 million (US$1 = rls 8,800), he added, according to IRNA.
