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SAIPA Company was established in 1966 under the name of Citroën Automobile Production Joint Stock Company of Iran and started its official activity by producing several kinds of Dyane models. In 1972, the name of the company was changed to "SAIPA" and it became a public joint-stock company. In 1995, the company's shares were admitted to the Tehran Stock Exchange, and in 1999, with the aim of participating in the entire value chain of the automobile industry, SAIPA bought the majority of the shares of Pars Khodro, Zamyad and SAIPA Diesel, and became SAIPA Automobile Group. Currently, this automotive group with more than 80 companies manages 40 thousand personnel directly and indirectly through its first and second tier companies. SAIPA Group has the capacity to produce about one million units in 7 sites of the car manufacturing company; 4 plants produce passenger cars under the brands of SAIPA, Pars Khodro, SAIPA-Citroën and Bon Ro; 3 Plants produce light and heavy commercial vehicles under the brands of SAIPA Diesel, Zamyad, and Iran Kaveh. 12 companies belong to SAIPA Group that supply more than 50% of the parts and components needs of this group who are Megamotor, SAIPA Malleable, SAIPA Plascokar, SAIPA Azin, SAIPA Press, SAIPA Heavy Dies manufacturing Co., Iran Radiator, SAIPA Teiph, Indamine Shock Absorber, SAIPA Glass, Zar Springs and SAIPA Rings. SAIPA Group manages its supply network with more than a thousand suppliers in the country through SAIPA Sazeh Gostar and Megamotor companies. In 1997, SAIPA Automobile Industries Research and Innovation Center was established with the direct investment of the SAIPA Automobile Manufacturing Company as an advanced knowledge-based center in automobile research, design and product development (including vehicle platforms and their related products) and started as the first specialized car design center of the country.