Thursday, December 13, 2007

Automotive: Islamic countries combine to produce new car

Gulf Daily News reports a car to be made by Iran, Malaysia and Turkey will be launched in 2011, according to the head of the Middle East's biggest carmaker and partner in the project, Iran Khodro. Chief executive and president of the partly state-owned Iranian company Manouchehr Manteghi said Islamic countries would be behind all the investment and production.

Manteghi said his firm, which produced more than 525,000 cars and pick-up trucks in 2006/07, was chosen by the Organisation of the Islamic Conference (OIC) to lead the project.

The car will be sold for about 6,000 to 8,000 euros ($8,800-$11,700). The main target markets would be Africa, the Middle East and southeast Asia.