Coda, Great Wall to Make EVs for U.S., China

Coda Holdings Inc. says it intends to develop and produce electric cars with China's Great Wall Motor Co. that will be sold in the U.S. and China beginning in the second quarter of 2014. The partners also plan to eventually offer the car in Europe.

CEO Phil Murtaugh tells reporters the cars will be sold under each company's brand in their respective countries.

The partners, who announced plans for their non-equity venture last August, plan to assemble Chinese versions of the new model at Great Wall's factory in Baoding. Final assembly of cars for the American market will occur at Coda's plant in Benicia, Calif.

Coda separately introduced the $45,000 Coda electric sedan in the U.S. earlier this year after several delays. That model consists of bodywork assembled in China by Hafei Automobile Group and an electric drivetrain installed by Coda in Benicia. The car uses batteries made by China-based Lishen Power Battery.

Last month Coda and Lishen canceled plans to open a lithium-ion battery plant in Columbus, Ohio. Coda says the companies abandoned the project because the U.S. Dept. of Energy delayed their application for a $500 million loan to help fund the facility.