Economics
Daimler Trucks to Return to Iran With Production, Sales Accords
- German company, former partner Iran Khodro to resume ties
- Mammut Group to distribute trucks from Mitsubishi Fuso unit
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Daimler AG reached preliminary agreements to restart sales and local production of trucks in Iran as the lifting of global trade sanctions opens the oil-rich Middle Eastern nation to European investments.
Daimler Trucks will cooperate with Iran Khodro Co., the country’s biggest auto producer, on engines and powertrains, and plans to reinvest in the companies’ diesel-engine venture, the German manufacturer said Monday in a statement. Under a second accord, Mammut Group will distribute vehicles from Daimler’s Mitsubishi Fuso unit.