Posts Tagged ‘Great Wall Motors’

Coda to build “affordable EV”; pulls DOE loan app.

Coda Automotive has announced plans to build an entry-level EV with China’s Great Wall Motors, a company that will display its first EV at the 2012 Beijing International Automotive Exposition, which opens Friday.

That news comes as Coda also announced the withdrawal of its DOE loan application to build  vehicles in this country. In its new deal, the manufacturing would start in China and wrap up in California, home to Coda’s headquarters.

“The company is the latest in a series of start-ups and other automakers to abandon efforts to tap the $25 billion government loan fund; Coda had proposed to build vehicles in Ohio as part of its application,” writes David Shepardson, with the Washington Bureau of the Detroit News. “The Energy Department has taken a harder line in reviewing applications — and hasn’t approved a new auto loan in more than a year.”
Here is the full story:–entry-level–electric-vehicle-for-U.S.-market