Iran’s Irankhodro will spearhead the development of the proposed “Islamic car” to be built only in Islamic states for Muslim markets, announced its chief executive Manouchehr Mantheghi on the 12th of December 2007.
A meeting between OIC (Organization of Islamic Conference) delegates, Turkey and Proton to prepare the framework of the project will be held in January 2008, and the plans would be presented at the OIC summit in March 2008.
If the OIC decides to take up the project, work will begin in March itself and the car will take an estimated 3 years of development at a cost of US$200 million to US$500 million. The project will be based on either Iran or Malaysia, but Irankhodro will lead the project.
Irankhodro is the Middle East’s largest car manufacturer and the company mainly rebadges Peugeot cars.