China has purchased 40% of shares of the Khodro Semnan car factory of Iran, Trend reports.
The Khodro Concern started construction of a running gear factory for Khodro Semnan in 2011. The first of the three construction stages has already been completed. About 1000 workplaces will open at the factory.
Iranian car manufacturers cannot compete with those of China. The main problem Iranian manufacturers face is high prices for car parts and wavering currency rates.
