Shanghai Automotive Industry Corp. subsidiary SAIC Chery Automobile is set to become the first Chinese auto maker to produce vehicles in another country, with plans to build an automotive plant in Iran. The first phase of the project, with an annual production capacity of 30,000 units, is expected to be operational by year-end, according to an agreement between SAIC and Iran’s SKT, reports China’s Xinhua news agency. The joint venture marks the first Iranian government approval for car ...
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