Iran-Azerbaijan Automotive Collaborations Take Off Investment
The very first products of a joint venture between Iran Khodro and Azerbaijan's AzEuroCar LLC are set to go on sale in the coming days under the brand name Khazar.
President Hassan Rouhani's chief of staff has said with Iran's assistance, the factory will manufacture 10,000 vehicles on a yearly basis at the production plant located in southeast Azerbaijan in the Neftchala Industrial District, ISNA reported.
The announcement was made during a news conference held on the occasion of Mahmoud Vaezi's two-day trip to Azerbaijan's capital Baku earlier this week.
He added, "The factory's production capacity will soon be increased to 30,000 units per year."
source: Financial Tribune