Iran Khodro

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Iran Khodro Company
Type Public company
Traded as TSE: IKCO1
ISIN: IRO1IKCO0008
Industry Automotive
Founded Tehran 1962
Founder(s) Khayami family
Headquarters Tehran, Iran
Area served Iran, Jordan, Belarus, Russia, China, Venezuela
Key people Hashem Yekke Zare (CEO)
Products Automobiles
Minibuses
Buses
Trucks
Revenue Increase US$ 12.8 billion (2011)[1]
Operating income Decrease US$ 1.03 billion (2011)[2]
Total assets Increase US$ 32 billion (2011)[3]
Owner(s) Private sector
Employees 54,000 (2012) [4]
Subsidiaries
Website ikco.com
A previous logo of the company

Iran Khodro Company (in Persian: ایران خودرو‎), also known as IKCO, is the leading Iranian vehicle manufacturer, with headquarters in Tehran.[5] The company's original name was Iran National. IKCO was founded in 1962 and it produced 688,000 passenger cars in 2009.[6] IKCO manufactures vehicles, including Samand, Peugeot and Renault cars, and trucks, minibuses and buses.[7]

History and development[edit]

Founding[edit]

Iran Khodro was founded by Ahmad Khayami, with registered capital of 100,000,000 Rls, on 18 August 1962 Aliakbar Khayami, Ahmad Khayami, Mahmoud Khayami, Marzieh Khayami and Zahra Seyedy Dashty, in Ekbatan Street in Tehran.

Name[edit]

Khodro (in Persian: خودرو‎) means Automobile in Persian. Iran Khodro is the same as Iran Automobile.

Structure[edit]

Iran Khodro (IKCO) is a public joint stock company with the objective of creation and management of factories to manufacture various types of vehicles and parts as well as selling and exporting them. IKCO produces vehicles under 13 brand names.

Size and production[edit]

The company has become the largest vehicle manufacturer in the Middle East, Central Asia and North Africa.[8] In Iran, it is the largest vehicle manufacturing company, having an average share of 65 percent of domestic vehicle production.[9]

In 1997, IKCO broke its own production record by producing 111,111 units of various passenger cars and vans. By 2006 Iran Khodro was producing 550,000 vehicles (for the Iranian year 1384, starting on 21 March 2006).

The opening of the country’s largest car assembly plant in Razavi Khorasan in July 2008 is expected to increase capacity with the ability to turn out 100,000 vehicles per annum by late 2009. However, it will not necessarily increase production.

Iran Khodro, the largest car manufacturer in the Middle East, produced 774,965 units of passenger cars and commercial vehicles in 2010 and aims to produce and market 850 thousand cars in 2011.[10]

Certifications[edit]

Iran Khodro has qualified for ISO 9001 from RW-TUV, Germany, as well as many other health, safety, and environment certificates including ISO 14001 and OHSAS 18001.[11] The company has also obtained TÜV, TSE, GOST and some other important standard certification for its different productions.

Products and relationships[edit]

Iran's automobile production crossed the 1 million mark in 2005. Iran Khodro is one of the largest car manufacturers in Asia. It has established joint-ventures with foreign partners on 4 continents.

For more than three decades, Iran Khodro produced the Paykan, a car developed from the Rootes Group's Rootes Arrow range, best known as the Hillman Hunter. Paykan saloon car production was discontinued in 2005, almost thirty years after the end of Arrow production (latterly as the Chrysler Hunter) in Britain. A pick-up version is still in production.[12] Bardo Pick-up, pick-up version of Paykan, will be replaced by a new pick-up from Samand family.[13]

Iranian-designed IKCO Samand, replaces the dated Paykan as Iran's "national car", and features a part-Iranian designed CNG/petrol dual-fuel engine in its Soren variant.

Front view of Samand LX
Rear view of Samand LX

The firm has a long-term relationship with European and Asian manufacturers including PSA Peugeot Citroën, manufacturing and assembling a number of models under license from these firms. In 2009, Peugeot 206, Peugeot Pars, Peugeot 405, Peugeot Roa, and Samand sedans were IKCO's export-bound cars sent to Azerbaijan, Iraq, Armenia, Uzbekistan, Turkmenistan, Syria and Afghanistan.[14] As at 2012, IKCO products incorporate 5-10 percent of components imported from France. IKCO's parts imports from Peugeot accounted for 700-800 million euros ($572–654 million) per year.[15] Iran has reached 98% of self-sufficiency in producing Peugeot 405 parts and 75% in Peugeot 206 parts.[16]

Renault Pars is in charge of the engineering, quality control, parts supply, logistics, managing sales policies as well as marketing and customer services for Renault products in Iran and IKCO is one of its main shareholders that produces Tondar for the domestic market. Renault Pars is a joint venture, 51 percent of which belongs to Renault of France. Forty-nine percent of Renault Pars' shares is jointly held by Iran's Industrial Development and Renovation Organization, IKCO and Saipa. The company was established in 2003.[17]

IKCO also manufactures trucks, buses and E-Class passenger cars under license from Mercedes-Benz. In a joint-venture with Daimler AG, Iran Khodro is to start production of sophisticated 900-class Mercedes-Benz engines; Daimler states that Iranian-made engines will be exported to Germany.[18] Among Asian automotive manufacturers, IKCO is cooperating with Suzuki. Producing Suzuki Grand Vitara in IKCO's Site in Khorasan, IKCO will produce Suzuki Kizashi.[19]

In 2012, IKCO announced that at least 3% of the company's sales will be allocated to research and development.[20]

Production sites[edit]

IKCO has 12 production site around the globe, 6 sites in within borders of Iran and 6 other in IKCO's main export markets. In its five-year (2012–17) future growth prospective, IKCO envisions an annual manufacturing capacity of three million units, with exports of a million units per year.[21]

Domestic plants:

Plant Production Capacity Product Location
Fars 30000 Pars Sedan (Peugeot 405 and samand to be produced later) Shiraz
Mazandaran 15000 Samand Sarir Babol
Semnan* 100000 Samand family Semnan
Khorasan 150000 Suzuki Grand Vitara, Pars, Peugeot 405 Mashhad
Tabriz 120000 Bardo Pick-up (just assemble) Tabriz
IKCO (main plant) 700000 Roa, Peugeot 405, Peugeot 206 family, Peugeot 207i, Samand, Tondar 90, Soren family, Tehran

Foreign sites:

Plant Production Capacity Product Location
Unison 60000 Samand Belarus
Azsamand 10000 Samand Azerbaijan
SIAMCO 30000 Samand Syria
CDC 15000 Peugeot Pars Egypt
SENIRAUTO 30000 Samand Senegal
VENIRAUTO 16000 Samand Venezuela

Export markets[edit]

The company won the annual national prize for export activities in years 2006, 2007. Russia, Syria, Turkey, Iraq, Azerbaijan, Ukraine, Egypt, Algeria and Bulgaria are among the most important target markets for the group. Since Iran Khodro group new movement through international markets in year 2004, the company has exported more than 150,000 units of cars in different classes and models to other countries mainly in the Middle East and CIS region.

Export opportunities are restricted to relatively low volumes with $60 million worth of cars exported in 2007.[22] By this Iran Khodro has ranked as 24th company among 100 top companies in Islamic world in year 2008. The Company has exported about 35,000 cars in year 2009.[7] The company exported 40,000 units in 2010, including 30% of the total production of its Samand model. IKCO intends to export 9% of its output in 2011, amounting to 75,000 vehicles, before reaching 16% in exports by 2014.[23] The company plans to increase its annual exports to more than 600,000 cars by 2016. IKCO also hopes to take a 51% share of the Iranian market in 2011, while improving the quality of its products. Iran Khodro is currently exporting its productions to almost 40 countries all around the world.

Passenger car range[edit]

IKCO[edit]

Samand LX
  • Samand; the "Iranian national car". Codenamed X7 during development. Its selling price starts at $14,500 in Turkey.[24]
    • Samand LX; a modified version of the basic Samand with better equipment and better outlook
    • Samand SE; a modified version of the Samand LX with minor interior changes aiming to improve the car's overall quality. The car also comes with different taillights
    • Samand Sarir; a longer wheelbase version of the Samand with enhanced equipment. (unveiled in 2006)
    • Samand Soren a new model of Samand (unveiled in 2008). Iran's first passenger car achieving Euro III emission standard and with a new more efficient Engine Management System.[25] An electric version of Soren was produced in 2010. The electric Samand can travel 200-km before it needs recharging.[26]
    • Samand Soren ELX; a new model of Soren which has lots of changes applied to it compared to its main model "Soren" like safety features such as passenger air bag, 3-point seatbelts for rear passengers.[27] It is powered by the most powerful Iranian national Engine (EF7 Turbocharged Engine) which can produce 156 hp with 210 N-m of torque. Its engine has passed Euro IV emission standard. It offers new technologies like using Nanotechnology for cloth of its seats and the dashboard.
  • Runna; IKCO's second "National Car"/all Iran-made car. Codenamed X12 during development and based on the modified 206 SD platform.
  • Dena; the car's estimated price is 18-25 thousand dollars for ELX Luxurious model and 14-18 thousand dollars for LX model. The mid-size four-door class-D sedan has an Iranian-built EF7 turbocharged engine that produces 150 horsepower and a fuel efficiency rating of 7.2 liters per 100 kilometers. The car will be equipped with driver, front passenger’s, and side airbags, as well as front and rear ABS Disc Brakes. IKCO plans to manufacture 35,000 units of Dena in 2012, 80,000 units in 2013 and 100,000 units between 2015 and 2017.[28][29]

Peugeot[edit]

Peugeot Pars (formerly known as Peugeot Persia or simply Persia)
  • Peugeot 206; a saloon version of the 206, the Peugeot 206 SD also co-developed with Peugeot in year 2005.
  • Peugeot 207i; by 2011, IKCO produced about 15,000-20,000 units Peugeot 207i. The production of 207i stopped in 2012 during relation cut between IKCO and Peugeot because of international sanctions against Iran.
  • Peugeot 405; available in saloon trims GLi and GLX and estate trim GLX
  • Peugeot 407; as CBU (about 2000 are imported to Iran by Iran Khodro)
  • Peugeot Pars; initially called the Peugeot Persia. Changes include a redesigned front and modernized rear
  • Peugeot RD; chassis and drivetrain are similar to the older Paykan but the outer body shell and appearance resemble a 405, production of this car had been halted.
  • Peugeot ROA; modified version of Peugeot RD, production of Peugeot ROA is going to halt.[30]

Renault[edit]

Suzuki[edit]

  • Suzuki Grand Vitara - Compact SUV which is divided to different 4 main models:
    • 2000 cc engine with 4-speed automatic gearbox
    • 2000 cc engine with 5-speed manual gearbox
    • 2400 cc engine with 5-speed automatic gearbox
    • 2400 cc engine with 5-speed manual gearbox

EF family engines[edit]

IKCO is self-sufficient in mass powertrain production, without any foreign assistance.[31] IKCO plans to produce more than 300,000 EF7 and TU5 Iran-designed economy engines in 2010.[32]

Iran Khodro started to design a new range of engines for its products in 2007 in a joint with F.E.V of Germany. The first EF series engine officially shown to the public in 2008 is EF7 which is currently powering Samand LX car in Iran.

EF7 turbocharged engines were initially shown to the public in mid-2009 and will be installed on Soren ELX by last 2010. Other EF series engines named EF4 & EFD (Diesel) engines design are finished and they are being tested for mass production by Iran Khodro. In November 2009, Iran Khodro unveiled its new "national diesel engine" with fuel consumption of 5 liters per 100 kilometers in combined cycle.[33] The engine has achieved emission standard of Euro 5, featuring a Diesel Particulate Filters (DPF) as well as a new Exhaust Gas Recirculation (EGR). The 1.5-liter turbodiesel uses advanced technology to deliver strong power and torque of 300Nm.[33] Iran Khodro has designed the EF4 & EFD itself in consultation with some expert engine designers.

Subsidiary companies[edit]

  • Supplying Automotive Parts Company (SAPCO)

SAPCO had been established in 1993 to manage the supplying chain of automotive parts in IKCO, with the main aim of being the best and most respected supplier of automotive parts and technical services. SAPCO also helps its suppliers to improve the quality of their products.

  • IKCO Spare Parts and After-Sale Services Co. (ISACO)

IKCO Spare Parts and After-Sale Services Co. (ISACO) was founded in 1977. ISACO is providing after-sale services and supplying spare parts for IKCO products throughout the country. ISACO Kish, is one the subordinate companies of ISACO which is assigned with the task of supplying after-sale services to IKCO vehicles in the international markets. In 2011, 37 percent of the needed spare parts were globally outsourced and ISACO aims to reduce this amount to 23 percent.[34] Iraq, Belarus, Russia, Ukraine, Venezuela, Senegal, Algeria and Tunisia are the main target markets for ISACO.

  • Iran Khodro Power Train Co. (IPCO)

IPCO was established in 1998. The main activity of this engineering services company is in the field of power train including design and development, testing, adjusting, product engineering, and quality assurance processes in mass production and design production. This subsidiary of IKCO is competent in other fields such as designing, installing and commissioning of testing equipments (hardware and software) of automotive parts, engines and vehicles as well.

  • TAM Co.

This subsidiary of IKCO was found with name "Ghateh Sazan-e Mojarab" in 1997 with the aim of creating cutting-edge has been changed to TAM Co. in 1998. The company has designed and completed projects of the SAMAND production line in Syria, Venezuela and Senegal without help of foreign companies, relying on its own knowledge and technology. In 2012, TAM won Iran's "Most Admired Knowledge Enterprise (MAKE)" award.[35]

  • SAMAND Investment Co.

Samand Investment Co. was established as a Corporation in 2004 with the purpose of the identification of investment opportunities, analysis and evaluation of the stock market and creating income for shareholders.

  • Iran Khodro Rail transport Industries Company (IRICO)

IRICO was established by Iran Khodro Investment Development Company in 2003 to manufacture railway rolling stock. IRICO produces metro wagon, rail bus, light rail vehicle and monorails. In March 2011, Tose-e-Tarabar Raili Iranian Co. acquired RICO from Iran Khodro.

  • Iran Khodro Diesel Company

Iran Khodro Diesel Company was established initially under the name of Khawar Industrial Group in early 1966. In 1999 Iran Khodro Company merged its bus and midi-bus production lines with Khawar Industrial Group truck production lines together and the new company Iran Khodro Diesel, public joint stock was established to manufacture different types of commercial vehicles for domestic and overseas markets. Iran Khodro Diesel Company exports its products to many countries.

See also[edit]


References[edit]

  1. ^ http://www.turquoisepartners.com/iraninvestment/IIM-Mar11.pdf
  2. ^ http://imi100.imi.ir/IMIDocs/gozaresh%20vije%20IMI%20correction2.pdf
  3. ^ "PressTV - IKCO, Iran's richest industrial company". Presstv.ir. Retrieved 2012-01-14. 
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  7. ^ a b "No. 3831 | Domestic Economy | Page 4". Irandaily. 2011-03-20. Retrieved 2011-05-29. 
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  10. ^ "Iran Khodro Industrial Group on the Throne of Iran's Auto Industry". Retrieved 29 May 2011. 
  11. ^ [1][dead link]
  12. ^ Ellis, Eric (2006-09-12). "Made In Iran - September 18, 2006". Money.cnn.com. Retrieved 2010-04-18. 
  13. ^ "IKCO New Products Replace Old Ones". Retrieved 29 May 2011. 
  14. ^ [2][dead link]
  15. ^ http://sports.yahoo.com/news/iran-auto-production-plunges-third-134504563--nascar.html;_ylt=A2KJjaiEYA5QMAoAqvHQtDMD
  16. ^ http://english.farsnews.com/newstext.php?nn=9104251010
  17. ^ "IKCO takes lead in quality Tondar 90 production". Presstv.com. 2009-12-24. Retrieved 2010-04-18. 
  18. ^ Article in Iran Daily[dead link]
  19. ^ "IKCO to Produce a New Suzuki". Retrieved 29 May 2011. 
  20. ^ http://presstv.com/detail/223755.html
  21. ^ "IKCO to present new high-tech cars in international markets". PressTV. 2012-02-26. Retrieved 2012-07-22. 
  22. ^ [3][dead link]
  23. ^ "Research and Markets: Iran Autos Report Q4 2011 - Available Now". Benzinga. Retrieved 2012-01-14. 
  24. ^ "خودروی سمند به ترکیه صادر می شود - kodoom.com". Economy.kodoom.com. 2010-01-18. Retrieved 2010-04-18. 
  25. ^ [4][dead link]
  26. ^ "Ahmadinejad unveils electric Samand". Presstv.com. 2010-02-10. Retrieved 2010-04-18. 
  27. ^ "IKCO to unveil new luxury sedan". PressTV. Retrieved 2011-05-29. 
  28. ^ "Iran Khodro unveils luxury car Dena". PressTV. 2011-04-17. Retrieved 2011-05-29. 
  29. ^ "Photos: Iran unveils Dena, second domestic car". Payvand.com. 2006-11-22. Retrieved 2011-05-29. 
  30. ^ "IKCO New Products Replace Old Ones". 
  31. ^ "IKCO self-sufficient in powertrain production". Presstv.com. Retrieved 2010-04-18. 
  32. ^ "IKCO to make 300,000 economy engines per year". Presstv.com. Retrieved 2010-04-19. 
  33. ^ a b "Iran Khodro unveils national diesel engine". Presstv.com. 2009-11-17. Retrieved 2010-04-19. 
  34. ^ "ISACO ready to supply spare parts if Peugeot imposes sanctions". PressTV. 2012-04-19. Retrieved 2012-07-22. 
  35. ^ "Tam Iran Khodro amongst the Asian MAKEs". Zawya. 2012-01-11. Retrieved 2012-07-22. 

External links[edit]