Invest News DetailDünya - Special Issue - Iran Khodro Company (IKCO), one of the largest automobile manufacturers in the Middle East, will team up with Turkey’s Hema Endustri, a division of Hattat Holding, to produce motor vehicles in Turkey. The two companies have reached an agreement during Turkish President Abdullah Gul’s visit to Iran. Hattat Holding Vice Chairman and Hema Endustri Chairman, Ibrahim Hattat, who took part in the Foreign Economic Relations Board (DEIK) delegation accompanying President Gul in his visit to Iran, said that Hema Endustri and IKCO will jointly produce passenger cars and light commercial vehicles under a new brand in Turkey. Hattat also said that the location of the production plant is yet to be decided; however Cerkezkoy, Tekirdag is a strong candidate. Iranian carmaker Khodro produces 800,000 vehicles annually, while Hema Endustri produces spare parts and tractors.