Iranian automaker IKCO said it would soon finalise a contract for the design and development of its first B segment platform.

It aims to develop two new platforms for the B and D segments. The required investment is about $6.5m and the company plans to build 10 new cars on these platforms by 2021.

IKCO has started negotiations with design consultant companies and the related contract will be finalised in near future.

IKCO supply chain parts producers will cooperate in this project. IKCO will design and develop the main parts of the platform while the smaller parts will be designed and prototyped by part makers and consultant companies".

IKCO will build its first car on this platform in 2014.

IKCO - once the maker of the Hillman Hunter-based Peykan, was merely an assembler prior to 1990. Localisation was achieved by 1995.

Body and trim design was the next development phase IKCO initiated in 1995. This led to the Peugeot 405 platform-based Samand, the first IKCO-brand car launched in 2000.

Following Samand production, powertrain design and development was the next goal. From 2000 to 2005, IKCO designed and developed the EF7, the first CNG-based engine in the world.

After designing body, trim and powertrain, the next step is to design and manufacture a self-developed platform. The company aims to fulfill this objective by 2015.

IKCO is using domestic capacity and the capabilities of Iranian engineers and designers to achieve this target. It is already cooperating with Iranian universities and science centres.