CODA to Site Automotive Li-ion Battery Manufacturing Facility in Ohio Pending DOE Loan

CODA, a California-based electric car and battery company, de lithium ion battery system manufacturing facility in Ohio. CODA is considering several sites within Ohio for the facility, which could employ more than 1,000 initially.

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.

Lio Energy Systems, a joint venture between CODA and Lishen Power Battery, would operate the 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.

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.


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