Chinese automakers Chery Auto to set up in Iran

It seems as if Chinese automakers Chery Auto, are aiming to become the biggest company in vehicle growth. We already know that they have invested money in other countries such as, Brazil, Egypt, and the Ukraine, and now the latest country that Chery are to set up in is Iran.

Chery Auto is to invest $370 million for their new plant in Babol, Iran. China’s largest automaker Chery, is teaming up with Khodro, Iran’s biggest automaker, as well as Solitac, a Canadian investment firm. Together these three companies will start production of the S21; these cars will arrive from China as knock down kits. If the S21 sedan is a success in Iran and other neighboring countries, it is hoped that more models will follow.

Chery have moved up a gear in the automotive world, as this Chinese car maker are now working with Fiat to produce Alfa Romeo’s in China, and they are also have a massive deal with Chrysler to produce a minicar, which is to be sold in the US.