Shanghai, June 25 (Gasgoo.com) Chongqing Changan Automobile Co, partner of Ford Motor Co in China, has sign a cooperative agreement in Chongqing with Iran's Pars Industrial Development Foundation (PIDF) to assemble compact cars in Iran starting the first half of next year, the state run Xinhua news agency reported Wednesday.
Changan will provide technologies and auto parts to the joint venture facility, while PIDF will in turn take charge of the production. The facility will have an initial annual capacity of 50,000 units, which will rise to 250,000 eventually.
Changan's compact Benni, which it developed in-house, will be assembled in the facility near Tehran, mainly targeting the local market.
Xu Liuping, president of Changan, said the company aims to sell 200,000 vehicles abroad each year by 2010, up from the 48,000 units last year.
To achieve the goal, Changan plans to have a total of eight overseas manufacturing sites and launch eight passenger car and commercial vehicle models abroad, Xu said.
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