Iran says it is now able to mass produce its medium-range Shahab-3 ballistic missile, which analysts say can hit Israel or U.S. bases in the Persian Gulf.

State media quote Iran's defense minister Ali Shamkhani as joking his nation can produce the missile in the same numbers as the country's popular national car, the Paykan. That car has been mass produced in Iran for decades.

Last month, Iran said it had increased the range and accuracy of the Shahab-3 missile, making it capable of hitting targets in parts of southeastern Europe. Military analysts have not publicly verified the claim.

The defense minister also denied claims that the country is developing a long-range missile. Tehran has insisted its missile program is strictly for defensive purposes.

Some of this information provided by AFP and Reuters.