Coda, Great Wall to co-develop EV for sale in 2014
Coda Automotive, a Los Angeles startup electric vehicle maker, plans to co-develop an EV with Chinese automaker Great Wall Motor Co. that will go on sale in the second quarter of 2014.
Coda CEO Phil Murtaugh said Wednesday that the EV will be the first product the companies will co-develop under an alliance to produce EVs priced to compete with conventional vehicles when factoring in government incentives.
The companies last year signed a letter of intent to jointly develop EVs.
The deal gives Coda access to Great Wall's vehicle portfolio and the Chinese vehicle market. Great Wall gets a partner to provide electric propulsion systems, including battery packs, energy management systems and drivetrain technology.
"The goal of this business alliance is to develop a portfolio of affordable EVs that will be distributed in all global EV markets -- North America, China and Europe," Murtaugh said.
Murtaugh declined to say whether the vehicle would be a car or a crossover, but said it would be based on a Great Wall vehicle. The vehicle will be branded as a Coda in the United States, and as a Great Wall in China.
Murtaugh said the company has not decided branding for Europe.
"From our perspective this is a very important step in the continued development of Coda and we know that Great Wall is extremely excited to be working with us to be able to adopt our EV propulsion technology as the heart of their EVs," Murtaugh said.
The announcement comes a little more than a month after Coda officially began retail sales of its first EV, the Coda Sedan, in California. Murtaugh said only a small number of the sedans have been sold, though he declined to say how many, calling it a "soft launch."
The companies last year signed a letter of intent to jointly develop EVs.
The deal gives Coda access to Great Wall's vehicle portfolio and the Chinese vehicle market. Great Wall gets a partner to provide electric propulsion systems, including battery packs, energy management systems and drivetrain technology.
"The goal of this business alliance is to develop a portfolio of affordable EVs that will be distributed in all global EV markets -- North America, China and Europe," Murtaugh said.
Murtaugh declined to say whether the vehicle would be a car or a crossover, but said it would be based on a Great Wall vehicle. The vehicle will be branded as a Coda in the United States, and as a Great Wall in China.
Murtaugh said the company has not decided branding for Europe.
"From our perspective this is a very important step in the continued development of Coda and we know that Great Wall is extremely excited to be working with us to be able to adopt our EV propulsion technology as the heart of their EVs," Murtaugh said.
The announcement comes a little more than a month after Coda officially began retail sales of its first EV, the Coda Sedan, in California. Murtaugh said only a small number of the sedans have been sold, though he declined to say how many, calling it a "soft launch."
