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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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"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.