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05/25/2010 11:09 AM     print story email story  

Coda Wants To Establish Li-Ion Battery Manufacturing in Ohio

SustainableBusiness.com News

California-based electric car company Coda said today it wants to build an automotive-grade lithium ion battery system manufacturing facility in Ohio.

The company is considering several sites within Ohio for the facility, which could create 1,000 cleantech jobs, the company said.

Construction of the facility is contingent upon finalizing an incentive package with the state of Ohio and the approval of an application for a Department of Energy (DOE) Advanced Technology Vehicles Manufacturing Loan (ATVM) to be submitted soon.

Headquartered in Santa Monica, California, Coda is slated to begin delivering its all-electric car in the fourth quarter of this year and anticipates that it can deliver more than 14,000 vehicles to customers by the end of 2011. The vehicles will be made primarily in China.

The company also has an exclusive battery joint venture, called Lio Energy Systems, with China's Lishen Power Battery.

Lio Energy Systems would operate the Ohio facility. Lio Energy Systems currently operates a one-million square foot facility in Tianjin, China with the production capacity to produce more than 20,000 battery packs per year. The proposed facility in Ohio would replicate this facility.

Coda will be the majority and control shareholder of the US venture.

Over the weekend, U.S. Secretary of Commerce Gary Locke toured the Tianjin facility during the Obama administration's first cabinet-level trade mission in China. "International green technology partnerships can produce rapid job growth back home and deliver energy solutions abroad, and CODA's venture proves it," Locke said.

In January, Coda announced $25 million in series C financing

Website: www.codaautomotive.com



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