US startup's 1st model made in China
By Joe Mcdonald |
March 3, 2011, Thursday
|
Print Edition
Print Edition
A STARTUP California developer of electric cars said yesterday its first model will be made in China and go on sale in the United States this year.
CODA Automotive Inc's four-door sedan will be produced by a Chinese partner based on one of its models that has been adapted for electric drive and to meet US safety standards, CODA's CEO Philip F. Murtaugh said.
He said CODA will produce batteries in China with another partner and supply technology and engineering skills.
CODA plans to begin sales in California this year and expects to sell 10,000 to 14,000 vehicles in its first 12 months, said Murtaugh, a former chairman of General Motors China who joined Santa Monica-based CODA last month.
"I'm very confident we will launch our vehicle in the second half of this year," he said in an interview with a group of reporters.
If it can meet that deadline, CODA could become one of the first companies to sell a Chinese-made car in the US following announcements by several brands of plans for such sales. CODA has postponed previously announced sales timelines, but Murtaugh said it should be able to stick to its latest schedule.
CODA's plans and the unusual structure of its manufacturing partnership expand on fast-growing ties between auto companies in the US and China, the world's two biggest vehicle markets.
Global auto makers and ambitious startups are racing to develop all-electric and hybrid cars as governments offer tax breaks and subsidies to promote alternative energy in hopes of reducing surging demand for oil.
Nissan Motor Corp's Leaf became the first all-electric model on the US market in December. It competes with GM's Chevrolet Volt, which uses an electric battery and a small gasoline motor for an extra charge.
BYD Co, a Chinese auto maker, began testing its F3DM plug-in hybrid in Los Angeles in December. BYD says it plans to sell its K9 electric bus this year in the US and start consumer sales in 2012.
CODA said it has raised more than US$200 million from investors.
CODA Automotive Inc's four-door sedan will be produced by a Chinese partner based on one of its models that has been adapted for electric drive and to meet US safety standards, CODA's CEO Philip F. Murtaugh said.
He said CODA will produce batteries in China with another partner and supply technology and engineering skills.
CODA plans to begin sales in California this year and expects to sell 10,000 to 14,000 vehicles in its first 12 months, said Murtaugh, a former chairman of General Motors China who joined Santa Monica-based CODA last month.
"I'm very confident we will launch our vehicle in the second half of this year," he said in an interview with a group of reporters.
If it can meet that deadline, CODA could become one of the first companies to sell a Chinese-made car in the US following announcements by several brands of plans for such sales. CODA has postponed previously announced sales timelines, but Murtaugh said it should be able to stick to its latest schedule.
CODA's plans and the unusual structure of its manufacturing partnership expand on fast-growing ties between auto companies in the US and China, the world's two biggest vehicle markets.
Global auto makers and ambitious startups are racing to develop all-electric and hybrid cars as governments offer tax breaks and subsidies to promote alternative energy in hopes of reducing surging demand for oil.
Nissan Motor Corp's Leaf became the first all-electric model on the US market in December. It competes with GM's Chevrolet Volt, which uses an electric battery and a small gasoline motor for an extra charge.
BYD Co, a Chinese auto maker, began testing its F3DM plug-in hybrid in Los Angeles in December. BYD says it plans to sell its K9 electric bus this year in the US and start consumer sales in 2012.
CODA said it has raised more than US$200 million from investors.
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