Coda Holdings, a developer of electric cars and advanced battery systems, on Tuesday said it signed a letter of intent to develop electric vehicles with Chinese vehicle manufacturer Great Wall Motor Co.

The parent of Coda Automotive Inc., which in June announced it was moving its headquarters from Santa Monica to Los Angeles, said the partnership is expected to combine Great Wall’s manufacturing prowess with Coda’s proprietary lithium-iron phosphate battery system. Coda’s own compact electric sedan for the U.S. market, with an estimated list price with $44,900, or $34,000 with expected government incentives, is expected to go on sale later this year.

Great Wall is the leading Chinese vehicle importer to the European Union and also exports to some 120 countries around the globe, according to Coda.

“Our collaboration will enable us to provide our respective customers with a broad selection of high-performing and affordable electric vehicles globally,” said Coda Chief Executive Phil Murtaugh in a statement.

Great Wall, which had announced plans to introduce an all-electric vehicle, said the venture should give it greater access to the U.S. market.

“This partnership will allow us to combine Coda’s high performance EV propulsion system and understanding of the United States market with Great Wall’s extensive vehicle platforms, experience in the China market and leading manufacturing capability,” said Great Wall Chairman Wei Jianjun in a statement.

Financial terms of the deal were not disclosed.