GreenTech Automotive announced Monday at the Shanghai International Automobile Industry Exhibition that it will build a five-passenger electric sedan in Horn Lake.
GreenTech already builds the MyCar, a small electric vehicle, at its facility in Horn Lake’s old Dover Elevator building. Production started last summer.
The company said in Monday’s press release that the sedan will feature a 19kwh battery with a range of more than 100 miles on a single 6-8 hour charge. Assembly of the vehicle will start late this year, and will be distributed in North America. GreenTech is partnering with JAC, a Chinese automotive manufacturer, to build the vehicle.
“JAC is recognized worldwide for the caliber and quality of its manufacturing. GTA’s innovative electric powertrain is a perfect fit for JAC’s EV platform, which has won numerous national awards in China,” Charles Wang, GreenTech chairman and CEO, said in a release. “Our meetings clearly revealed that there was good synergy between the JAC platforms and our technology and both companies immediately understood that a strategic partnership is in each company’s best interest.”
After a pilot assembly of 2,000 vehicles, GreenTech plans to build the new vehicle at an additional facility somewhere in the U.S.
GreeenTech, in 2011, borrowed $3 million from the Mississippi Development Authority for site work on the company’s facility. The terms of the loan call for the company to create a minimum of 350 job by Dec. 31, 2014. Loan payments will begin after production starts, an MDA spokesperson told the Mississippi Business Journal last week.