In 1993, Engines, Gearboxes & Axles Automotive Manufacturing Company of Mega Motor was founded and missioned to further decrease country’s automotive industry dependence upon foreign counterparts. Current affairs of Mega Motors follow five main targets as follows.
According to their official website Mega Motor Iran is owned by SAIPA Group.
Owner of Saipa Corp. is The Industrial Development & Renovation Organization of Iran (IDRO) with 17.3% shares. IDRO is added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control on 11/5/2018 for being owned or controlled by the Iranian regime;
Subsidiaries of Mega Motor:
1. Behran Motor– Customers of Behran Motor are Bahman Group and Defense Industries Organization (DIO);
2. Semet Company
3. SAIPA Polos
4. Nasir machine
5. AZ Saipa
6. Ravan Fanavar Engineering Corporation
Regime controlled companies are using equipment from Mega Motor partners. Terrorist organization IRGC and regime controlled companies are using Mega Motor income to finance terrorism, sponsor terrorist attacks around the world, finance building of nuclear weapons.