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FinancialNews
29-08-18
Iran's IDRO, Australian group ink deal on electric vehicles manufacture
(MENAFN) Iran and Australia have reportedly inked a memorandum of understanding to join forces in the production of electric vehicles and motorcycles.
The MoU was confirmed to have been penned in Tehran between Iran's Industrial Development and Renovation Organization (IDRO) and Australia's Avass Group.
Under the agreement, the Australian group is to provide Iran with relevant technology and is to allocate USD117 million in the joint manufacturing of the products.
IDRO's director for international affairs Seyed Ali Araqchi confirmed that Iran has been picked by the group to become its production and exports center within the West Asia, Central Asia and Russia region.
MENAFN2908201800450000ID1097357695
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