China’s SAIC Motor to stay in Iran

ISNA– Vice president of Sanat Khodro Azarbaijan (Azarbaijan Vehicle Industry Co), Fariborz Zarei said, “Given the investment of SAIC Motor automotive manufacturer group in Iran, Sanat Khodro Azarbaijan’s activity won’t be affected by US’ unilateral sanction against Tehran”.

During a press conference, Zarei said, “MG Automotive Industry has been found in 1924 in Britain and since 2000 it has been assigned to China’s SAIC Motor”.

Citing the SAIC Motor is the first automobile manufacturer of China and the seventh in the world with producing 6,300,000 vehicles per year, Zarei said, “SAIC Motor and Sanat Khodro Azarbaijan began their partnership in 2016 which led to joint producing of MG vehicles”.

“Considering the investment of SAIC Motor in Iran and joint activities of the two companies, there isn’t any concern about US’ unilateral sanctions against Iran and we are confident that the bilateral cooperation will continue,” Zarei added.

He further stated, currently the company produces 60 vehicles per day and by the end of the Iranian fiscal year (in March 2019) it will reach to 120 vehicles.