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Mercedes-Benz

Mercedes-Benz

Industry: 
Automotive
Symbol: 
ETR:DAI
States: 
CA
NJ
TX
Country: 
Germany
Sources: 

Mercedes-Benz is a division of Daimler AG, its parent company.

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"Iran Khodro may sign a deal with the German maker of commercial vehicles and luxury cars as soon as three months from now, Chief Executive Officer Hashem Yeke Zare said to reporters in Tehran on Tuesday. Daimler may open an office in Iran within two to three months, the Iranian CEO said. 'Mercedes-Benz is an old partner for Iran Khodro, and it has announced to us its interest and readiness to work with us,' Yeke Zare said. He declined to comment on the financial scope of any partnership with Mercedes parent Daimler." (Bloomberg, "Daimler Pushes Ahead With Talks to Return to Iran Truck Market," 7/28/15)

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"Engineering CEO of Iran Khodro Diesel Reza Hosseini said that Iran is likely to produce Mercedes-Benz sedans in the future. Speaking at a ceremony to unveil the first Iranian –produced minibus, Hosseini said that a model of Mercedes-Benz sedans used to be produced in Iran in the past, ISNA news agency reported May 24. In a contract previously signed with Mercedes-Benz, besides producing an E-class sedan, the production of C-class sedans is also envisioned, he said. Therefore, there is the chance in the future for some Mercedes-Benz sedans to be produced in Iran, he concluded. Iran Khodro Diesel CEO Qolamreza Razazi also attending the ceremony told reporters that the Accor Mercedes truck is currently produced by the Iranian company and added that a model of Mercedes ambulance is also going to be produced in Iran." (Trend, "Iran says likely to produce Mercedes-Benz sedan", 5/25/15)

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“Iranian car manufacturing company Saipa is in talks with France's PSA Peugeot Citroen and Renault, Germany's Mercedes-Benz, and Sweden's Volvo to finalize deals on joint production of cars in Iran, Saipa officials announced on Tuesday.  Saipa CEO Saeid Madani announced that the company is in negotiations with PSA Peugeot Citroen to sign a deal, but at the same time noted that any deal would depend on the ongoing talks between Tehran and world powers over the country's peaceful nuclear energy program…CEO of Saipa Diesel Za'far Tanhapour, who was also attending the ceremony, announced that the company has started talks with Germany's Mercedes-Benz, and expressed the hope that the talks would be finalized by the end of the current Iranian calendar year (mid-March).  Mercedes-Benz can be a good partner for Saipa Diesel, Tanhapour stressed, adding that joint projects for the development of products are high on Saipa's agenda.” (Tasnim, "Iran's Saipa Negotiating with European Automakers," 5/12/15)

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"[T]he auto sanctions were lifted earlier this year after an interim nuclear agreement was reached between Iran and world powers and a final accord is still on the horizon, raising the prospect of better times for the industry. That will draw international suitors to Tehran on Monday for the second consecutive Iran Auto Show. Mercedes Benz, Volkswagen, Renault, Peugeot, Kia and Toyota have confirmed [they will attend]." (Agence France-Presse, "Foreign automakers find Iranian market has gone local," 11/30/14)

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"Last week, Qorbani announced that Benz, Volkswagen, Volvo, Fiat, Rover, Skoda, Renault, Peugeot, Kia and Toyota would take part in the Iranian auto expo, adding that the US car-manufacturers would also join the event. 'In case of desirable conditions, General Motors and Ford companies will also attend the event.' He continued that some leading car parts makers, including Siemens, FORD Mendo, Busch, FRW and ACI would attend the gathering. The event will start work on December 10." (Fars News, "55 Giant Int'l Carmakers, Part-Makers to Participate in Iranian Auto Expo," 11/2/14)

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Iran Khodro Company (IKCO) will start cooperation with Germany's Mercedes-Benz Company once the sanctions on Iran's car industry are completely lifted, the Managing Director of IKCO Hashem Yekke Zareh said on December 1. 'We will start negotiations with French Peugeot Company in the coming days in order to restart the two companies' cooperation,’ the Mehr News Agency quoted Yekke Zareh as saying. (Trend, Iran Khodro Co. seeks cooperation with Germany’s Mercedes-Benz, 12/1/2014)

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"The nuclear deal struck by Iran and six world powers will put more rubber on the road in the Islamic Republic. The country’s major carmakers stand ready to start receiving parts again from French firms PSA Peugeot Citroen and Renault when the sanctions ease. That could see Iran’s stalled car production again take off, proving a boon to local automakers and potentially draw in more foreign investment from other manufacturers hoping to break into the market…Iran Khodro’s manager, Hashem Yekeh Zare, said his company is considering a joint project with Daimler AG’s Mercedes-Benz, but didn’t elaborate. Zare said his company is seeking greater self-sufficiency and is interested in importing auto parts and licenses for joint production." (Washington Post, "Iran nuclear deal hits gas pedal for carmakers," 11/30/13)

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The Setare Iran Company is currently negotiating with Mercedes-Benz to reopen the German company's production line in Iran, the Managing Director of Setare Iran Company Seyyed Reza Hosseini said on Friday. ‘The Iranian Top Khodro Company previously used to manufacture Mercedes-Benz sedan cars in Iran, but the production line is now at a halt. In the event of the negotiations succeeding and sanctions lifted, we can open the line,’ the Fars News Agency quoted Hosseini as saying. ‘Iran Khodro Diesel was also active in the production of Mercedes-Benz models, especially the E-Class series in Iran,’ he said, adding that Iran is still the exclusive base for production of the German company's model in the Middle East. (Trend, Iranian firm negotiates to reopen Mercedes-Benz production line in Tehran, 10/25/14)

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"The Trade Promotion Organization of Iran has announced the list of cars which are allowed to be imported in the current Iranian year, but renowned brands such as Porsche, Benz, BMW, Maserati, and Nissan are not in the list, ISNA news agency reported." (Azer News, "Iran bans imports of renowned car brands," 5/27/2013)

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Setareh Iran lists itself as the exclusive distrbutor of Mercedes-Benz in Iran.

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"Daimler AG's Chief Executive Dieter Zetsche said Wednesday the German auto maker will divest its 30% stake in Iranian Diesel Engine Manufacturing as part of a wider review of its business relationships with the country. 'In view of the current political situation we have...extensively reassessed this business relationship,' Mr. Zetsche told shareholders at Daimler's annual general meeting." (The Wall Street Journal, "Daimler Downgrades Ties to Iran," 4/14/10)
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"Daimler has maintained a partnership with Iran car maker Iran Khodro since the 1960s, according to a company spokesperson, and it owns a 30 percent stake in an engine manufacturer owned by Iran Khodro. The company still ships cars to Iran, but new German export laws prohibit the sale of large trucks, and the spokesperson said that the sales are a small portion of worldwide revenue. Daimler and its subsidiaries have won contracts to supply cars and trucks to the U.S. government."  The company received $4.2 billion from the US government for their business investments in Iran during 2000-2009.  Their activities in Iran are currently active. (The New York Times, "Profiting from Iran, and the US," 3/6/2010)
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Germany's trade ties to Iran stretch back to the Middle Ages, and many of the companies currently there have been active in Iran for decades. Some 85 German companies have operations in Iran, from chemical maker BASF AG to Deutsche Lufthansa AG and Bayer AG, and others such as Linde AG and Mercedes-Benz parent Daimler AG are active there, according to the Hamburg-based German-Iranian Chamber of Commerce. More than 7,000 companies conduct business there through local representatives. Germany has become such a big trading partner for Iran because so many of its companies provide the machinery and engineering prowess Iran needs to improve its infrastructure.(The Wall Street Journal, "German Firms Feel Pressure Over Tehran Trade," 10/3/09)
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Several renowned German companies are involved in major Iranian infrastructure projects, especially in the petrochemical sector, like Linde, BASF, Lurgi, Krupp, Siemens, ZF Friedrichshafen, Mercedes, Volkswagen and MAN. (Payvand News, "Iranian exports to Germany rose 50% last year," 12/8/08)
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Major Non-Oil Investments [In Iran]: Renault (France) and Mercedes (Germany)- automobile production in Karaj, Iran--valued at $370 million. (Congressional Research Service (CRS) Reports and Issue Briefs, Iran: U.S. concerns and policy responses, 12/1/07)
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German companies such as Siemens, BASF, Mercedes, and Volkswagen maintain strong business ties with Iran. (The New York Sun, Attack on Iran Said To Be Imminent, 9/28/07)
Response: 

No response at this time.

Sells vehicles in Iran through Setareh Iran. Mercedes trucks have been used for military purposes and Mercedes cars are commonly used by the Iranian police.