Motor Vehicles and Parts News
- Chery to open Iran auto factory
Date: 16-Aug-2007 Sources: (Shenzhen Daily)
CHINA'S biggest domestic automaker, Chery, is opening a factory in Iran, expanding its fast-growing foreign ties soon after announcing ventures with Chrysler and Fiat.
The US$370 million plant in Babol in northern Iran will be developed with Iran's biggest automaker, Khodro Co., and Canadian investment firm Solitac, Chery Automobile Co. said on its Web site.
The factory will assemble Chery's compact S21 sedan, also known as the QQ6, from kits supplied by Chery, the statement said. They are to be sold in Iran and surrounding countries.
Chery said it would own 30 percent of the Iranian factory, with Khodro holding 49 percent and Solitac 21 percent.
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