Spanish firm plans to tap Iran's car parts market
Spanish car parts maker is seeking partnership with Iran to produce car parts in the country, Financial Tribune daily reported on Sunday.
The Spanish Automotive Equipment and Components Manufacturers Association, Sernauto, has sent a delegation to Iran to seek cooperation, the report said.
The delegation visited the headquarters of Iran Khodro, IKCO, in the capital Tehran.
"Spanish parts makers are present in Japan, the United States, China, Mexico and Morocco," Portilla said during the visit to IKCO, adding that "they want to expand their presence in the local automotive sector through joint ventures."
According to the daily, the local car parts industry suffers outdated technology and lack of investment.
