According to the Iranian Financial Forum on November 27th, the management of the Iranian Sepa Automobile Group and the China Brilliance Auto Group delegation met in Tehran on November 23, and both parties confirmed that they will launch more models of cars into the Iranian market.
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Separ Group President Jamali said the two companies decided to expand cooperation in the Iranian market. He said that the Sepa-Warchen joint venture will ensure that the two sides gain greater market share in Iran and surrounding markets. He said that reliability and high quality are the two main reasons why joint venture products are successful among Iranian consumers. Jamali said that the Sepa-Warchen joint venture is trying to expand its share of the Iranian local market by introducing more new models of cars, improving quality and lowering prices.
According to Iran's localization rate requirements, each joint venture must transfer 20% of its production technology to Iranian partners. In the first phase of the product, 40% of the spare parts are produced locally, and this number will increase to 70% in the next three years.
Sepa and Brilliance began joint production in Karachi in western Tehran in May this year. The product line of the assembly line is H220 H230, H320 and H330. According to previous reports, Sepa will produce 60,000 Brilliance cars by March 2017. According to Sepa, Brilliance Auto invested $60 million in the production line.
Earlier this month, Pashodro said it would introduce the Brilliance C3 off-road vehicle to the Iranian market. The model is expected to cost $15,280-16,700.
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