IRAN Khodro Investment Development Co, Iran's largest auto manufacturer, has signed a deal with Qingnian Automobile Group to produce and sell its cars in China.

IKIDC and Zhejiang-based Qingnian have set up a joint venture, with 70 percent of the stakes held by Qingnian. They plan to start construction in two months on a plant in Shandong, which will be able to turn out 30,000 units of IKIDC's mainstream Samand sedan annually. The company also aims to expand its production capacity to 100,000 units. The 1.6-liter Samand will be priced initially at 100,000 yuan (US$12,500).

Source:佚名