LG to produce electric car for Iran

LG Group will produce the electric car for the Iranian market.

LG and the Iranian government recently signed an agreement for the development. The agreement only lays out the issues in broad strokes and is to be followed a proper contract later, the Chosun Ilbo reports.

An LG Corp. staffer said, “We stayed in Iran despite international sanctions, which appears to have helped us win the trust that led to the agreement.”

According to the deal, LG will develop 20 EVs for Iran’s No. 1 automaker Khodro by 2018 and set up charging stations in Tehran.

The sides have agreed to produce 60 thousand cars by 2023 according to Iranian sources.