Chinese, US automakers to produce ‘affordable’ EV

Beijing (CNS) -- Chinese car brand Great Wall Motors (GWM) signed an agreement with leading American electric vehicle (EV) maker CODA on Thursday to develop the "most affordable EV on the market."

During the ongoing Beijing International Automobile Show, GWM announced that in order to build the world's most economical pure EV model, it is sharing key techniques with CODA in exchange for the company's highly developed technology and advantages in electric drive systems and batteries.

The vehicles are to be pre-assembled at GWM's Baoding factory in Hebei Province, with final assembly of North American models at CODA's facilities in the U.S. The operation is scheduled to begin in the second quarter of 2014.

GWM is China's largest pickup truck and SUV maker and trades with more than 100 countries. Its exports to EU member states have been particularly strong.