SAIPA

SAIPA (in Persian:سایپا‎‎) is the second largest Iranian auto manufacturer. SAIPA (an acronym for the French Société Anonyme Iranienne de Production Automobile) was established in 1966, with 75% Iranian ownership, to assemble Citroëns under license for the Iranian market. Nowadays it builds mainly Korean cars, but has also developed its own engine and range of cars. The chief executive (president or managing director) of Saipa is Mehdi Jamali, predecessor of whom was Nematollah Poustindouz. The main subsidiaries of SAIPA Group are Saipa Diesel, Pars Khodro and Zamyad Co. SAIPA signed a Memorandum of Understanding with Malaysia's Proton to jointly develop a new compact sedan to replace the SAIPA Pride.