China's GAC Motor plans to build new vehicle assembly plants in Iran and Russia to capitalise on growing demand for Chinese products, according to local reports.
The company is currently surveying potential sites to build new assembly facilities in these countries to help fulfill growing demand for "affordable" vehicles, according to CEO Wu Song.
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GAC Motor, part of the Guangzhou Automobile Group Company, sells its vehicles under the Trumpchi brand in some 18 markets worldwide. So far, it has been particularly successful in entering markets in the Middle East.
Wu told local reporters GAC Motor is currently operating at full capacity in China due to strong domestic demand and new investments are being made to expand capacity. By mid-year, it expects to have in place annual production capacity of around 400,000 units.
In the first two months of the year it sold close to 55,000 Trumpchi brand vehicles.
