News   /   Economy

Iran’s Saipa enters Venezuela’s car market with first shipment

File photo shows a Saina car model manufactured by Iranian automotive company Saipa during a car show in the capital Tehran. (Photo by IRNA)

Iran’s second largest carmaker Saipa has officially entered the car market in Venezuela with the export of a first shipment of sedan cars.

Saipa dispatched a shipment of 1,000 cars to southern Iran for exports to Venezuela on Sunday, accroding to a report by the IRIB News.

In a ceremony held in the company’s headquarters in the Iranian capital Tehran, Venezuela’s transport minister Ramón Blázquez hailed the launch of exports by Saipa as a sign of deepening economic cooperation between Iran and Venezuela, said the report. 

Blázquez said some 80,000 orders had been placed in Venezuela for Saipa cars, a statement that showed customers in the South American country have become interested in the quality and affordability of models manufactured by the Iranian company.

Footages published on the website of the IRIB News showed that Saipa’s first export shipment to Venezuela consisted of Saina and Quik models. The two compact sedans have become increasingly popular in Iran since they were launched five years ago.

Venezuela has also awarded a contract to Saipa for local manufacturing of its new models. The deal, which was clinched earlier in October, would allow Saipa to assemble its cars in the manufacturing facilities of Venirauto, a Venezuelan automotive company where Saipa and Iran’s largest carmaker the IKCO own shares.

Iran and Venezuela have established close economic and energy ties in recent years as they seek to offset the impacts of American sanctions on their economies.

The two countries signed a series of key deals to deepen their bilateral ties during a visit to Iran in June by Venezuelan President Nicolas Maduro.

Press TV’s website can also be accessed at the following alternate addresses:

Press TV News Roku