After raising nearly $ 60 million, the company CODA Automotive, a large-scale producer of power battery systems for transportation and utility applications, is pending to the decision of the U.S. Department of Energy to obtain an additional loan. CODA Automotive, based in California, has partnered with the Chinese company that specializes in batteries for electric cars, Lishen Battery Power. Together they created a joint venture Lio Energy Systems, which will produce the batteries for the future 100% electric cars and widely distributed. The plant, located in Columbus, Ohio, plans to employ more than 1,000 employees, a boon for the city Mayor Michael B. Coleman. The latter has said: "CODA represents not only high quality employment opportunities and investment, but movement towards advancing our goals for a 21st century economy and a greener world. It also represents an opportunity for Columbus to be the epicenter of a new generation of electrification ecosystems. This project represents the type of innovation and jobs that we will aggressively pursue and continue to attract to the City of Columbus".
Reminder, CODA Automotive plans to launch soon its own 100% electric car, whose autonomy is between 90 and 120 mi and an announced top speed at 80 mph. 2700 units should shortly be produced to $ 45,000.
CODA awaits the decision of the U.S. Energy Department.
In American Cars, In Green Influence, In IndustryMay 26, 2010
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