German firm after developing economic activities in Iran

Tehran, Feb 13, IRNA – German Company ‘Bosch’ aims to develop production and economic cooperation in Iran, Deputy Head of Bosch Co. Christopher Denuvill said.

Bosch opened its branch in Iran in 1924 and signed its first agreement with an Iranian car manufacturer company in 1971, Denuvill said at the 5th Iran Automotive Industry International Conference (IAIIC) held in Tehran on Tuesday.

Due to sanctions imposed on Iran, the company had to leave the country, he said.

After the implementation of Iran nuclear deal known as Joint Comprehensive Plan of Action (JCPOA), Bosch has another company named ‘Bosch Tejarat Pars’ and 55 small Iranian firms are cooperating with Bosch, Denuvill added.

He highlighted air pollution, car accidents casualties, traffic jam and the competitiveness of Iranian industries as Iran's major challenges saying the company has solutions to these problems.

Denuvill also described the vehicle's automotive systems, automated parking systems, electric cars and reducing pollutant emissions as Bosch Company’s projects.

The IAIIC has put its spotlight on 'competitive supply chain' and provides the opportunity to assess and analyze the current and future conditions in research, design and production of raw materials, spare parts manufacturing, and logistics technologies.

Several high-ranking Iranian officials are slated to deliver speeches during the conference meeting.

Over 220 foreign guests from Germany, France, South Korea, Japan, China, Taiwan, India, Russia, Turkey, Iraq, Turkmenistan and Italy as well as 560 Iranian experts are attending the two-day gathering.

With an annual production of more than 1.7 million vehicles, an annual production plan of 3 million vehicles for up to eight years, having a large domestic market and accessing to large regional markets, the high potential for the modernization/replacement of worn passenger and commercial vehicles of the country, Iran’s Automotive industry is now looking for a jump in technology and production. Iran’s automotive industry will be one of the most attractive investment opportunities in the upcoming years.

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