Automotive

Al Zayani Automobile and Trading Co. (“Al Zayani”) signed a deal with Borgward Group AG (“Borgward”) in Bremen, Germany, acquiring the exclusive rights for distribution of Borgward vehicles in Kuwait. (Tires & Parts News Resource, “Borgward Group AG Officially Appints Exclusive Distributors in UAE Kuwait and Bahrain,” 6/12/2017). At the same time, media reports indicate that Borgward is also ready to sign similar deals in Iran with two Iranian companies, Bahman Group and Iran Khodro (a.k.a. IKCO), which are affiliated with the Islamic Revolutionary Guards Corps (“IRGC”). According to Borgward Deputy Director Tom Anliker, “[n]egotiations have been held between Borgward and major Iranian carmakers including Iran Khodro and Bahman Group.” (Financial Tribune, “Borgward Reportedly in Deal With Kian Motor,” 6/13/2017).

NTN-SNR’s appears to have business operations in Iran through its advertised ties to the Iranian company, Sameh Afzar Tajak Company (“SATCO”). According to the SATCO website, SATCO is a “business partner” of NTN-SNR.

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UANI wrote to NTN to convey our concerns regarding NTN-SNR, a subsidiary of NTN Corporation, reported participation in the 4th Iran Automotive Industry International Conference (“IAIIC”), which took place in Tehran, Iran on February 12-13, 2017. 

"Reached a MOU with Iran’s Auto Parts Manufacturing association, according to an Iranian Chamber of Commerce announcement in 2016." (“Steel Industry Grabs Spotlight in Vienna Deal-Making,” Financial Tribune (Iran), April 5, 2016.)

"Suspending activities in Iran. In December 2017, announced a licensing deal with Ayegh Khodro Toos to manufacture parts for Iran Khodro and Groupe PSA, beginning in 2019."  ("Autoneum withdraws from Iran" (in German), Handelszeitung, July 2, 2018.
 

"Hungarian bus manufacturer Ikarus and the Iranian City Industries and Mines Development Group (City IMD), affiliated to Shahr Bank (City Bank), have signed a memorandum of understanding to import buses. During a meeting in Tehran on Monday, Ikarus Chairman Gábor Széles and City IMD Chief Mohsen Ahmadi signed the initial agreement, the local firm reported in a press release on its website. Later and in an interview with Hungarian newspaper Magyar Hírlap, Széles said, “Ikarus plans to export 1,000 buses to Iran. The country is a key element to Ikarusʼs export strategy”. (December 7, 2017)

On February 16, 2021, Iowa Public Employees' Retirement System removed Hyundai Mobis from its Iran Prohibited Companies List. 

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As of December 2020, Rhode Island continues to list Hyundai Mobis as an Iran scrutinized company for active involvement of at least $50 million in Iran's energy sector. The company's minority-owned subsidiary, Hyundai Motor lists several distributors in Iran. 

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Hyundai Mobis is listed on the 4Q 2020 Minnesota State Board of Investment List of Unauthorized (Scrutinized) Iran Companies.

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On May 15, 2020, the IPERS identified Mobis on its Iran Prohibited Companies List.

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On January 20, 2020, Minnesota SBI listed Mobis as a scrutinized investment. The managers are explicitly instructed to refrain from purchasing securities on this list.

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As of August 15, 2019, the state of Iowa listed Hyundai Mobis on its Iran scrutinized companies list.

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In 2018 the U.S. state of Iowa listed Hyundai Mobis on its Iran prohibited companies list rendering Hyundai Mobis ineligible for investment and/or state contracting. 

"Iran Khodro Company (IKCO), the giant Iranian auto manufacturer, plans to build cars in collaboration with the firm that designs such cars as Ferrari, Maserati, and Peugeot." (October 2017).

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Ferrari Srl (“Ferrari”) reportedly agreed to exhibit at the 22nd International Oil, Gas, Refining, and Petrochemical Exhibition (the “Exhibition”) that took place in Tehran on May 6-9, 2017.

Assaloni appears to have a presence in Iran through a sales distributor, the Bahman Group.  (Irancode, “Assaloni”).

"Russia’s UAZ auto company, which announced its entry into the Iranian market during the Tehran Auto Show in February, is to begin production in Iran in 2018, according to a company representative in Moscow." (March 5, 2017).
 

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"Andrey Dorofeev, UAZ Export Sales Director, was quoted by media as saying that the company first needs to assess the capacity of the Iranian market and the demand for its products before beginning manufacturing. "The Iranian automobile industry is well-developed and the government protects it with hefty import taxes," Dorofeev told Sputnik news agency. "So in order to achieve a significant sales volume, it is necessary to assemble cars on Iranian territory. But in order to understand the needs of the local customers, first it is necessary to begin supplying already-manufactured cars. We, along with our distributors, are ready to begin this process after the certification," he added. The necessary arrangements for the move, along with the signing of several pertinent contracts, were made during the Iran Auto Show 2017, an international expo which was held in Tehran in February, Sputnik added." (Press TV, "Russia to Produce Patriot SUVs In Iran," 3/12/2017).

"Volkswagen's Spanish subsidiary Seat is considering selling its cars in Iran to broaden its reach beyond the crowded European market, its chief executive said on Tuesday. Seat has been invited by the Spanish government to explore opportunities in Iran but entering the market would require major investment and only work in conjunction with Seat's German parent VW, Chief Executive Luca de Meo told Reuters. "It's not a market where we can go alone," de Meo said at the Geneva auto show. "We have to see what our sisters and brothers are doing. We are analysing the situation but nothing concrete is on the table." French carmakers once dominated the Iranian market and both PSA and Renault are ramping up investment and production there after an international deal to lift sanctions in return for curbs on Tehran's nuclear activities. Western and Japanese carmakers that had previously avoided Iran are also eyeing its potential and Iran's deputy industry minister told a conference in Tehran last month that VW may soon finalise a production deal with an Iranian company." (Reuters, "VW's Seat Considers Selling Cars in Iran," 3/10/2017).