Iran and China Establish Axis of Automobiles
It looks like everyone wants a piece of the burgeoning Chinese auto market. The latest player: the Iran Khodro Industrial Group (IKCO). The Iranian conglomerate has joined forces with Chinese busmaker Jinhua Neoplan to build vehicles in China, according to China Car Times. IKCO is Iran's primary auto manufacturer; they assemble cars in Iran under license from PSA Peugeot Citroen and trucks under license from Mercedes-Benz. They also build cars under the Iranian brands Samand, Sarir and Soren. There's no word on whether IKCO's Chinese vehicles will be existing models or new ones, or whether they're destined for the Chinese market or export to Iran and/or other markets. So far together they've invested over $60m in the project, and are expected to sink another $140m into the venture in the near future.