Archive for September 24th, 2007
Another global Chinese brand
Expanding its foreign ties, Chery, China’s biggest domestic automaker, plans to open a $370 million- factory in Babol, northern Iran. The plant will be developed with Khodro Co, Iran’s biggest automaker and Solitac, a Canadian investment firm. Chery’s compact S21 sedan will be assembled at the factory and sold in Iran and neighboring countries. Chery hopes this move will help it gain recognition as a ‘Chinese brand in the world market.’
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