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Daimler Drops Out of Iranian Car Market
Daimler AG has abandoned plans to expand operations in Iran and ceased its “already restricted activities” in the country because of new U.S. trade sanctions.
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Daimler AG has abandoned plans to expand operations in Iran, confirming to Reuters that it also has ceased its “already restricted activities” in the country because of new U.S. trade sanctions.
Daimler set up a joint venture in 2016 with local dealer/assembler Iran Khodro’s diesel affiliate to make and sell Mercedes-Benz trucks in Iran. But the company has suspended that partnership and also canceled plans to open a company office in Teheran.
Mercedes has sold car and trucks in Iran for 65 years, except during the previous round of U.S. sanctions in 2010-2016. The new sanctions take effect today. They are a result of President Donald Trump’s decision to pull the U.S. out of the nuclear treaty with the country that ended the previous restrictions.
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