Bowing to pressure, Porsche joins Hyundai in ending business with Iran | Fox News: "United Against a Nuclear Iran. Iran’s two largest automakers, the Iran Khodro Group and the Saipa Group, are subsidiaries of the Iranian Development and Renovation Organization, the same government body involved in developing the regime’s nuclear and missile programs. Iran’s third largest automaker, the Bahman Group, is nearly half-owned by the Revolutionary Guard.
Iran’s auto industry, which has business relationships with Nissan, Fiat, Volvo and Peugeot, employs thousands of workers and exports vehicles to more than 30 countries. Porsche, which just last Friday joined Hyundai in agreeing to pull out of Iran, reportedly sold $17 million worth of cars through its dealership in Tehran in just the past few months. A spokesperson for the German automaker confirmed to FoxNews.com the company's intention to leave the country."
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