US, Europe Automakers Mulling SAIPA

Managing director of Iranian carmaker SAIPA has said that major American carmakers have invited his company to participate in joint projects.

Mehrdad Bazrpash noted that the global economic downturn has also prompted a number of European automakers to consider selling shares to SAIPA.

He said that some of the European automakers that are now interested in cooperating with SAIPA were the ones that showed no interest in the past, ISNA reported.

SAIPA has joint projects with Citroen and Renault of France, Nissan of Japan, and Kia Motors of South Korea. Saipa exported over $150 million worth of automobiles and spare parts in 2008. The figure indicates a 30-percent growth over the previous year.

The company expects $300 million from its exports during March 2009-2010.