Saipa said in a Wednesday statement that it had delivered 1,000 completely build-up (CBU) cars to Venezuela in the Iranian calendar month to late June.

The statement said the shipment sent to Venezuela included 700 Quik ST and 300 Saina S models as well as six containers of spare parts.

It said the market and customers in Venezuela had reacted positively to the first batch of Saipa cars sent to the country in March, adding that the delivery of the new shipment had started only within 20 days of receiving orders from the buyer.

Iran is supplying cars to Venezuela under a memorandum of understanding that was finalized during a trip by Iranian President Ebrahim Raeisi to Caracas in early June.

Under the deal, which covers exports of finished cars from Iran as well as cars manufactured in a joint plant in Venezuela, Iran will supply 200,000 cars to customers in the country in the next five years.

Venezuelan authorities said in November last year that some 80,000 orders had been placed in the country for cars manufactured by Saipa.

Saipa and Iran’s largest carmaker IKCO own 36% of the shares at Venezuelan Iranian Automotive Company (Venirauto), a company in Venezuela which is planning to resume operation after some eight years of inactivity.

Saipa has also agreed to join operations at another idle car factory in Venezuela to help the country expand the production of commercial vehicles and trucks.

DAY/PressTV