CODA Automotive, a California-based private company, and China’s Great Wall Motors will develop and, build and an entry level electric vehicle to sell in North America, China and Europe.
The partnership allows both automakers to develop and sell EVs in a “very efficient and cost-effective manner”, Coda chief executive Phil Murtaugh said in a statement.
The vehicle, based on an existing Great Wall model, will be ready for the US by 2014 and is “intended to be the most affordable EV on the market, comparable to entry-level internal combustion engine vehicles,” said Coda.
The first vehicles will be assembled at Great Wall’s factory in Baoding, China. Final assembly of later cars for the US will be at Coda’s US factory near San Francisco. Earlier this year, Coda began selling its first EV in California. It costs US$37,250, before state incentives of $10,000, and goes 125 miles on a single charge, according to the company.
Over the past two years, Coda has raised $300m in equity, said Forrest Beanum, head of government relations and external affairs for Coda.