IKCO and Mercedes Benz Trucks Sign & Wholesale Joint Venture Agreement
Iran’s largest vehicle manufacturer, Iran Khodro Industrial Group (IKCO) and Germany’s Truck manufacturer, Mercedes-Benz Trucks, have signed a contract to establish a wholesale joint venture company for commercial vehicles sales and after-sales services in the Iranian market.
The contract was signed on Tuesday, Sept 12th between Iran Khodro Diesel (IKD), representing IKCO, and Mercedes-Benz Trucks in Wörth, Germany.
The signing ceremony was attended by Iran’s Ambassador to Germany, Dr. Ali Majedi, Iran’s Deputy Minister for Industry, Mohsen Salehi-Nia and IKCO CEO, Hashem Yekehzare as well as a number of high-ranking managers of the two Iranian and German companies.
The wholesale joint venture will have the exclusive privilege of selling Mercedes-Benz trucks and vans in the Iranian market.
Currently both companies are working to set up a production joint-venture agreement for Mercedes-Benz Trucks with the objective to sign this agreement within the next coming months. The current and future generations of Actros Trucks will be the main products of this future company.
Mercedes Benz is the first leading brand in commercial vehicles in the world. The company’s decision to set up a joint venture with IKCO shows that Iran is a market with potential growth for commercial vehicles.