TEHRAN – A production line of Iran’s SAIPA Car Manufacturing Company in Venezuela whose operation has been halted since 2015 is going to resume operation in the near future, IRNA reported.

The decision has been made during the visit of Iranian President Ebrahim Raisi to the South American country.

Back in October 2022, SAIPA signed a cooperation agreement with Venezuela to resume production of Iranian cars in this country.

The cooperation agreement was inked between the Head of SAIPA Automotive Group Mohammad Ali Teimouri and Venezuelan Minister of Transportation Ramon Velasquez at the venue of SAIPA Company in Tehran in order to produce Iranian cars in this country as a joint venture (JV).

The Chief Executive of SAIPA Automotive Group Teimouri said that in the first phase of cooperation, parts of SAIPA’s cars are sent to Venezuela within the framework of Completely Built Up (CBU), and then, the production line of Venezuela’s VENIRATO Automobile Company will be activated in cooperation and collaboration between the two parties and cars will be assembled in the form of Semi-Knocked Down (SKD) basis.

EF/MA