Company type | Subsidiary |
---|---|
Industry | Automotive |
Founded | 2002 |
Headquarters | Tehran, Iran |
Products | Automobiles Engines |
Website | www.mvmco.ir |
Modiran Vehicle Manufacturing Company (MVM) is an Iranian automobile firm. [1] [2]
MVM is a subsidiary of Kerman Motor, an Iranian assembler of Volkswagens, that also used to assemble a version of the Daewoo Matiz for the local market. The Matiz had been assembled by Kerman Khodro since the year 2000 in a joint venture with the South Korean Daewoo Company.
However the crisis at Daewoo Motor in South Korea resulted in a take-over by the American General Motors corporation which then stopped supplying CKD kits to the Iranian company due to U.S. sanctions against the government of Iran for claims about the Iranian state sponsoring terrorism and Iranian violations of United Nations protocols for nuclear inspections. It is offered with two engine options, a 3-cylinder 0.8 liter and a 4-cylinder 1.1 liter. [3] Due to this, Kerman Khodro licensed the Chery QQ3 as the car was of a similar style to the GM car. However, as Kerman Khodro had replaced the GM Daewoo lines with that of Volkswagen, they put it into production at their subsidiary MVM as the 110. It is offered with two engine options, a 3-cylinder 0.8 liter and a 4-cylinder 1.1 liter. [4]
Daewoo Motors was a South Korean automotive company established in 1937 as "National Motors". The company changed its name several times until 1982 when it became "Daewoo Motors" following its acquisition by the Daewoo Group. After running into financial difficulties, it sold most of its assets in 2002 to General Motors at $1.2 billion, becoming a subsidiary of the American company. In 2011, the name "Daewoo" was definitively removed with the company being renamed GM Korea and the Daewoo brand replaced by the Chevrolet marque.
Chery Automobile Co. Ltd., trading as Chery, is a Chinese automobile manufacturer and brand headquartered in Wuhu, Anhui, China, and owned by the Wuhu municipal government. Founded in 1997, it is currently the fifth largest automobile manufacturer group in China with 1,881,316 vehicles sold in 2023.
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