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Peykan Car Factory Founded

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October, 13, 1962 A.D.:
Peykan Car Factory Founded

By: Mir M.Hosseini

The Iran Nasyonal factory was founded in the Ekbatan street of Tehran with a capital of 10,000,000 Tomans on Oct, 13, 1962 and started manufacturing buses on March, 18, 1964 as a family business headed by Mahmoud Khayyami.
After some unsuccessful experiences in producing Fiat brand of vehicles, Iran Nasyonal company was initiated to produce latest model of British Hillman called Peykan. After an agreement was made with British Talbot company, in 1967, a production line of 60,000 units was inaugurated which reached 120,000 gradually.
In 1972 six models of Peykan were being produced including automatic transmission, Deluxe and semi-truck. On October, 19, 1974, another cast factory to produce 6 pieces of Peykan engines was founded. Peykan filled the streets of Iran making passenger transportation a national job. By 1975, Iran Nasyonal announced an amazing capital of $579,125,000 while the parent British company had gone bankrupt and foreign producers were engaged in a fierce competition.
After closure of the English Talbot company and cancelation of it's contract, a deal with French Peugeot was made to produce the 504 engine fit for Peykan. In 1992 some machinery from Talbot were bought and production of Peykan engine restarted.
On may, 15, 2005 the factory now called Iran Khodro announced halting Peykan production. At the time %98 of the car's parts were being produced domestically and Peykan had the title of the first national car before being sent to museum. Iran's monopolist car industry has been acting week in accordance with international realities; imposing high import taxes and duties and therefore condemning Iranians to low quality and expensive vehicles.

KEY TERMS:British , Ekbatan , Fiat , French , Hillman , Iran , Iran Khodro , Iran Nasyonal , Iranian , Khayyam , Mahmoud Khayyami , Peykan , Talbot , Tehran , Toman

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