CODA Holdings and Great Wall Motors to Jointly Co-develop Affordable Electric VehicleApril 25, 2012 by Jeff Shepard
CODA Holdings announced it has signed a contract with Great Wall Motors Company to co-develop the first all-electric vehicle for worldwide development and distribution. Designed for the North American, Chinese, and European markets, this co-developed EV is intended to be the most affordable EV on the market, comparable to entry-level internal combustion engine vehicles.
"This marks the launch of our partnership with Great Wall Motors that will enable us to bring EVs to global markets in a very efficient and cost effective manner," said Phil Murtaugh, CEO, CODA Holdings. "We’re excited to work with Great Wall Motors to develop the second product in Coda’s portfolio, to bring another solution to a global problem and together make high-quality clean technology accessible. Ultimately, this will enable drivers worldwide to go electric affordably and support our mission of putting an EV in everyone’s garage."
The joint effort will blend CODA’s leading battery technology, knowledge of the US market and deep experience with global joint ventures with the expertise of China’s fastest growing and most profitable automotive producer. Known for its high-quality sedans, SUVs and pick-up trucks, Great Wall Motors is the fastest growing OEM in China, delivering nearly 500,000 vehicles in 2011 worldwide.
Combining the product portfolio and manufacturing assets of Great Wall with the expertise of EV propulsion systems and battery technology from CODA, both companies aim to benefit from their ability to rapidly develop product and manufacturing processes. 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.
"We’re thrilled to combine the expertise of Great Wall Motors and CODA to create a solution to a global problem together," said Wei Jianjun, chairman of Great Wall Motors. "We envision a long-term, successful relationship with CODA, creating industry-leading EVs for our generation and beyond."
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