Chery planning to set up shop in Iran



As the entire industry looks towards China as a new vehicle for growth, Chinese automakers are investing heavily outside of the country in places as diverse as the Ukraine, Brazil and Egypt. The latest offsite location is Iran, where China's largest automaker Chery Auto has announced plans to build a new $370 million plant in the northern city of Babol.

Chery is partnering with Iran's biggest automaker Khodro, as well as Canadian investment firm Solitac, to start assembly of its compact S21 sedan in the Middle-Eastern country. The cars, which will arrive as knocked-down kits from China, will be sold in Iran and neighboring countries and could be followed by even more models in the near future.

This latest deal is just one of several international ventures that Chery has under its belt. Earlier this month, Fiat announced its plans with Chery to build Alfa Romeos for sale in China and you'd have to be living under a rock to not know about the deal between it and Chrysler to develop a new minicar for eventual sale in the US.

[Source: Detroit News]

Reader Comments (Page 1 of 2)

Add your comments

Please keep your comments relevant to this blog entry. Email addresses are never displayed, but they are required to confirm your comments.

When you enter your name and email address, you'll be sent a link to confirm your comment, and a password. To leave another comment, just use that password.

To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.








Autoblog Podcast #152: Paukert Enhanced!

Chris Paukert joins the usual crew of Chris, Sam, and Dan, summarily classing up the joint.

 
 

Featured Galleries

  • 2011 Buick Regal Live Unveiling
  • BMW Concept 6
  • Zenvo ST1 Details
  • SEMA 2009: HPP Daytona Challenger
  • LA Design Challenge 2009 Competitors
  • SEMA 2009: 1962 Chevrolet Corvette C1-RS
  • SEMA 2009: Bigfoot
  • SEMA 2009: Black Bison Toyota Alphard
  • Ford's Inflatable Seat Belts
  • 2011 Porsche Boxster Spyder
  • Shelby Turbocharged Mustang
  • Jetta TDI Cup Street Edition

AOL Autos

Find Your Next Car

Autoblog Video


Autoblog Green

Daily Finance

Download Squad

Engadget

Joystiq

Autoblog Spanish

Switched.com

FanHouse

Asylum