TU5, which is presently installed on Peugeot 206 and some types of Peugeot Pars, is very popular in Iran, Beigloo told IRNA economic correspondent on Sunday.
EC5 engine has been developed by IKCO Engine Research Center, he said.
It is for the first time that more than 60% of a foreign vehicle is being indigenized, Beigloo said, adding that some 80% of the car will be domestically produced within the next few months.
Noting that the platform used for manufacturing Peugeot 301 cars is a new one, he said that the Iranian spare parts producers could adjust themselves with the modern technology despite the sanctions imposed on the country.
The Electronic Central Unit (ECU) of the car includes an electronic board, ICs, and software, Beigloo said, adding that the board and the assembly line exist in Iran, while some ICs which are assembled on the boards are not produced in the country and there are just a handful of producers around the world.
However, he said that the Iranian defense industry is capable of producing these ICs. He added that their production may not be economically justifiable in the beginning but as the number of products grows up, it becomes economical too.
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