Speaking to reporters, Head of Automobile Owners Association Masoud Tehranchi said that the model's price tag will be around rls 40 million (one dollar= 8,500 rls).
The Chinese-made automobile is to be named 'Geely' and has a chassis similar to that of Mercedes Benz.
On the automobile's technical features, he added the engine uses Japanese technology with four cylinders and has a gas mileage of 100-km per five liters.
He also criticized the high prices of automobiles in Iran saying the unfettered car prices has adversely affected other industrial products.
Iran is striving to sign joint car production ventures with other countries.
Iranian ambassador in Spain said in April that Spanish auto-parts manufacturing firms are interested in setting up a production plant in Iran.
Speaking to IRNA following a tour of several Spanish car parts manufacturers in Barcelona Morteza Alviri said that Spain's Estampeciones Sabadell' is interested in building a "cut and press" factory in a joint venture with Iranian companies in Isfahan.
The Spanish company has also signed a dlrs 17 million contract with the company 'Hamgam Khordor Iran' - an auto-parts manufacturing concern- based on fifty-fifty share.
Another Spanish company affiliated to the large auto manufacturing 'Seat' is negotiating to build a plant in Iran Alviri said, adding "the contract is valued at about dlrs 90 million."
Seat is the largest car manufacturer in Spain with a production volume of over 460,000 cars last year.
... Payvand News - 6/1/04 ... --