Reporting "Asre Khodro" ,The new joint venture agreement was signed in the presence of his Excellency Dr. Ali Ahani, Ambassador of the Islamic Republic of Iran in France, Patrick Koller, CEO of Faurecia, Christophe Schmitt, Executive Vice-President of Faurecia Emissions Control Technologies, Mohammad Alipour and Hamid Keshavarz, founders & co-owners of Crouse, Dr. Hamid Reza Samadi of Avrand, and other officials.
The 50/50 Faurecia – MAAD joint-venture“FCAES” will cover both hot end and cold end emissions control systems built on the basis of Euro 5 standard. The first local production is expected to start at the end of 2017. The new joint-venture will develop and produce emissions control systems for the Iranian automotive market, which expects an encouraging growth of 6% per annum. Total sales are expected to reach € 50 million in 2020, representing a 25% market share.
Instrument panels, door panels, center consoles, acoustic and soft trim modules for vehicle interior systems will be developed and manufactured by the AFISCO, the 50/50 Faurecia – Azin Khodro joint-venture, which is expected to start production in early 2018. By the year 2020, AFISCO expects to achieve total sales of € 50 million.
FAPSCO, the existing Faurecia joint-venture for automotive seating, will enlarge its complete seats, frames and covers activities in the country. The joint venture will enlarge its business beyond its current customer Renault to serve Peugeot, Iran Khodro and other automakers. FAPSCO plansto produce 340,000 car sets per year to reach sales of € 150 million in 2020.