TEHRAN, Aug. 1 (Xinhua) -- Iran's Khodro Diesel (IKD) has signed a deal with the South Korean Hyundai for the production of heavy vehicles in Iran, Financial Tribune daily reported on Tuesday.
The deal was signed by the Director of IKD, Alireza Saji, and a Hyundai production manager, Edward Lee, here on Monday.
"Through the deal, new models of Hyundai trucks will be produced in Iran," Saji said, adding that the agreement also calls for the production of buses and minibuses.
IKD, which manufactures heavy duty vehicles, has produced several models of Hyundai trucks in Iran in the past. IKD also signed a production deal with Germany's Daimler last year.
The Iranian company is seeking to expand its operations through joint ventures with major foreign companies.