Tehran, Iran, August 27
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Iran's IDRO (Industrial Development & Renovation Organization of Iran) Group and Australia’s Avass Group of Companies have signed an agreement to jointly produce electric cars and motorcycles, the director for international affairs of IDRO said.
Ali Araqchi said the agreement was signed in Tehran on August 27, whereby Avass Group of Companies will invest as much as €100 million in the sector of auto industry.
He added that the Australian company would manufacture electric cars and motorcycles in cooperation with IDRO.
According to the terms of the agreement, Avass Group of Companies will also set up a reach and development center in Iran under the supervision of IDRO, Araqchi said.
Established in Melbourne Australia in 2011, Avass Group of Companies has a proud and successful history. Commencing operations as a Consulting Engineering Body, the group has developed and diversified over the years and now trade within the Electric Vehicle Industry.
