Reporting "Asre Khodro", Iranian Minister of Industries, Mines and Trade Mohammad Reza Nematzadeh said industries which fail to keep up with ongoing developments were doomed to failure.

“Some Iranian companies have however updated their facilities,” noted the official adding that some new products of these factories in the appliance industry will be unveiled in the current week.

The official also reassured that Euro V automobiles will be released to the market in the coming Iranian calendar year (to begin March 20); “to this end, new contracts signed with foreign automakers pursue the target of manufacturing vehicles which comply with Euro V and VI standards.”

Nematzadeh pointed to inking of agreements with two European research and design institutes for modern engines saying “low-consumption 3-cylinder engines with a power of up to 160 hp have been included in the contracts.

“Iran Khodro (IKCO) and SAIPA automaker companies have sealed agreements with a German and an Austrian company respectively,” stressed the Iranian minister highlighting that the deals would yield results within two years.

He also pointed to collaborations between Iran's car industry and the world diesel manufacturers saying “production of buses and trucks with Euro V or Euro IV standards in addition to diesel particulate filter (DPF) has already kicked off and new cars will become available soon.”

Source: mehrnews.com