Foreign corporations are including Belgian Punch Company, German Benteler International Company, South Korean Hyundai Motor Company, German MAHLE Company and Italian Pininfarina Company.
Iranian organizations in this consortium are including IKCO CEO, Sharif and Amirkabir universities, presidential deputy for science and technology and Iranian Vehicle Manufacturers Association (IVMA), according to ISNA.
According to the $270 million worth contract which has been signed by the representatives of all the companies and organizations, 23 models of car with domestic brand will produce and distribute in Iran.