TEHRAN - The industry ministry has allocated €844 million to support the country’s auto parts manufacturers, director general of the industry ministry’s automotive and transportation industries office said.

Seyed Reza Mofidi noted that according to the ministry’s plans, domestic manufacturers are set to produce 1.3 million automobiles by the end of the current Iranian calendar year (ends on March 19, 2020) of which 310,000"...

Velodyne Lidar, Inc. filed a patent infringement complaint with the U.S. International Trade Commission (ITC) against Hesai Photonics Technology Co., Ltd. and Suteng Innovation Technology Co., Ltd. (a.k.a. RoboSense) for violations of section 337 of the Tariff Act of 1930 which makes unfair methods of competition and importation of certain products into the United States unlawful. Earlier this week, Velodyne also filed patent infringement complaints against Hesai and RoboSense in the U.S. District Court for the Northern District of California. Velodyne is asking the ITC to investigate these lidar manufacturers for unlawfully importing and selling lidar sensors that infringe Velodyne’s patented lidar technology (U.S. Patent 7,969,558). Velodyne requests the ITC issue permanent limited exclusion orders and cease and desist orders against Hesai and RoboSense to stop the importation and......

TEHRAN, Aug. 11 (MNA) – Head of the Plan and Budget Organization Mohammad-Bagher Nobakht said Sun. that the new reforms in the structure of the country’s budget aim at cutting direct dependency on oil revenues to zero.

He made the announcement at the first session of drawing up the budget structure for the next Iranian fiscal year (starting on March 20, 2020).

“Given"...

TEHRAN- Domestic auto part manufacturers want Industry Ministry to make new policies that facilitate their activities, the secretary of Iranian Auto Part Manufacturers Association told IRNA on Saturday.

Arash Mohebi-Nejad mentioned four major problems that auto part manufacturers are facing as lack of liquidity, prices which should be modified, difficulty of supplying raw materials both from inside and outside the country, and settling credit purchases.

"...

Yamaha Motor Co., Ltd. (TOKYO:7272) announced today that for the first half of the fiscal year ending December 31, 2019, consolidated net sales were 855.9 billion yen, an increase of 0.5% from the same period the previous year. The company experienced a 16.1% decrease in operating income of 13.2 billion yen, while ordinary income fell 9.1% to 70.2 billion yen and net income for the period attributable to parent company shareholders was down 8.4% to 52.2 billion yen.

Although"...

TEHRAN- Iranian carmakers manufactured 266,961 vehicles during the first four months of the current Iranian calendar year (March 21-July 22), IRNA reported citing the data released by Industry, Mining and Trade Ministry.

The ministry’s data show that car manufacturing in Iran has fallen 38.3 percent in the four-month period of this year from 432,528 cars manufactured in the same time span of the previous year.

Industry,"...

Management of Souq Al Haraj for Cars in Sharjah announced that the standardized contract for the sale of used cars is in the final process of drafting and will soon be approved. The announcement was made during the meeting which was held in Souq Al Haraj where there were discussions regarding the final details of the new contract. The meeting was attended by representatives from Souq Al Haraj management, Sharjah Police and Sharjah Economic Development Department.

Speaking"...

TEHRAN- Iranian carmakers manufactured 197,777 vehicles during the first three months of the current Iranian calendar year (March 21-June 21), IRNA reported citing the data released by Industry, Mining and Trade Ministry.

The ministry’s data show that car manufacturing in Iran has fallen 40.8 percent in the three-month period of this year from 334,328 cars manufactured in the same time span of the previous year.

Industry,"...

TEHRAN – Some 42,200 tons of car tires were produced by Iranian producers during spring (March 21-June 21), IRNA reported citing industry ministry data.

As reported the figure fell 21.5 percent compared to the same period last year.

The data also indicated that in the mentioned timespan, 119,700 tons of motor oil was produced which is 20.5 percent less than that"...