SHANGHAI, March 25 (Reuters) - Chinese carmaker SAIC-Chery, which signed a deal last month to set up a car plant in Iran, is in talks to expand output into Vietnam and Bangladesh, executives at the mainland company said on Tuesday.
While foreign auto giants flock to set up shop in its home market, SAIC-Chery, one-fifth owned by top Chinese automaker Shanghai Automotive Industry Corp (SAIC), is pondering whether to assemble cars in other Asian countries, a senior executive said.
"We're building a factory in Iran and as a result a lot of developing countries are approaching us for discussions," said Sun Yong, SAIC-Chery's sales manager, stressing nothing had been decided. "We are just starting to talk."
"As foreign companies hope to expand their market in China, Chery is looking at both domestic and international markets."
SAIC-Chery is a small player in the world's fastest-growing major car market, but has bold ambitions to increase capacity and sales.
It aims to double sales in 2003 to 100,000 cars, and ramp up capacity to 350,000 by the end of this year from 100,000 now, said executives at Chery's base in eastern Anhui province.
The firm signed an agreement in February with Iranian car components producer SKT to make up to 30,000 cars a year in the Middle Eastern country.
Sun told Reuters Chery would build the plant on SKT's behalf, but the two firms had not yet decided on a production start date. When completed, the plant would manufacture products for both Chery and the Iranian company.