Tuesday, August 16, 2011

CODA Inks Deal With Chinese Auto Firm

Los Angeles-based CODA Holdings, the parent firm of CODA Automotive, said late last night that it has inked a deal with Chinese auto firm Great Wall Motor Company Limited. According to CODA, it is in a Letter of Intent to develop electric vehicles with Great Wall. Financial terms of the deal were not disclosed. CODA said that the electric vehicles will be distributed worldwide, blending key technologies from Great Wall and CODA's Lithium iron phosphate battery system.