Monday, July 4, 2016

Daimler vows to take China off Iran roads

PRESS TV - Sat Jul 2, 2016

Daimler says its trucks division will start the deliveries of Mitsubishi Fuso brand in Iran later this year.   The German carmaker and Iran’s Mammut Group signed a distribution agreement for Fuso trucks, especially in the light-duty segment, back in January as the West lifted its sanctions on the Islamic Republic.  To redeem the lost ground in the reopened Iranian market, Daimler has to fight now-entrenched Chinese rivals, with trucks division head Wolfgang Bernhard saying the company will not cede business to the Chinese.   Two days after the lifting of economic sanctions against Iran in January, Daimler had signed letters of intent for the establishment of joint ventures in the Middle Eastern country.  Bernhard said Daimler’s market launch in Iran will initially begin with complete deliveries under the agreement signed between the two sides.