CODA Holdings, a developer of battery-electric vehicles (CODA Sedan) and advanced battery systems signed a contract with Great Wall Motors Company to co-develop a lower-cost, entry-level battery-electric vehicle for worldwide distribution. The two had signed a Letter of Intent in August 2011. (Earlier post.)
Designed for the North American, Chinese, and European markets, this co-developed EV--which will be the second in CODA’s portfolio—is intended to be the most affordable EV on the market, comparable to entry-level internal combustion engine vehicles.
The joint effort will blend CODA’s battery technology, knowledge of the US market and experience with global joint ventures with the expertise of China's fastest growing and most profitable automotive producer. Great Wall Motors delivered nearly 500,000 vehicles in 2011 worldwide.
Products will be developed by employees of both companies in their research facilities in LA and Baoding, China. Vehicles will be sub-assembled in Great Wall’s manufacturing facilities in Baoding. Final assembly of US destined vehicles will take place in Coda’s facility in the US.