Economic review

China's Taiwanese automaker plans to tap Iran market

2017-07-17 09:25:00 (Beijing Time)         Xinhua

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Auto manufacturer Luxgen Motor Company from Chinese Taiwan plans to bring two model cars to Iran, Financial Tribune daily reported on Sunday.

The Iranian company Arman Motor Kavir has signed a representation deal with the Luxgen Motor, the report said.

"The two companies are studying the possibility of joint local production, however, no decision has been made yet," CEO of Arman Motor Farzin Torkipor said.

"At the first stage of collaboration, Luxgen cars will be imported to the country," Torkipor added.

The two models which will be brought to Iran are named as Luxgen U6 compact crossover and S3 sedan, said Aqil Mostafai, sales manager of the Iranian company.

"The U6 will be offered with a price ranging between 1 and 1.5 billion rials (26,000 to 40,000 U.S. dollars) and S3 will come at less than 1 billion rials (26,000 U.S. dollars)," he said.

Sales of these cars are expected to start before the end of the current Iranian calendar year, March 20, 2018, according to the report.

Several Chinese cars, including Chery, Lifan, JAC, Haima, Changan and Brilliance, have been settled in the Iranian market since a decade ago.