2014

Commerce Secretary Gary Locke to Visit CODA's Electric Car and Clean Energy Storage Battery Manufacturing Facility

SANTA MONICA, Calif., May 21 /PRNewswire/ -- CODA, a California-based battery system and electric car company, will host U.S. Secretary of Commerce Gary Locke today at the site of the battery manufacturing facility operated by its affiliate, Lio Energy Systems, in Tianjin, China. According to the administration, the scheduled visit is part of the Obama administration's first cabinet-level trade mission. Discussions will focus on U.S.-China cooperation with respect to the development and manufacturing of clean energy technology, in this instance, battery systems for transportation and utility applications. U.S. representatives of CODA's supply chain, including Nexteer Automotive and BorgWarner, will attend. Production of CODA's all-electric sedan, slated for delivery in the fourth quarter of this year, will help preserve and create thousands of jobs in California, Wisconsin, Michigan, Illinois, Ohio, North Carolina , Florida and Colorado. 

"International green technology partnerships can produce rapid job growth back home and deliver energy solutions abroad, and CODA's venture proves it," Locke said. "Together, CODA and Lishen have created a battery system with the potential to power a new generation of cars creating sustainable manufacturing industries that ultimately reduce our dependence on oil."

Lio Energy Systems, a joint venture between CODA and Lishen Power Battery, was formed in 2007. Leveraging Lishen's microelectronics lithium-ion cell design and manufacturing capabilities, and CODA's automotive-grade battery engineering proficiency, the partnership has created a safe, durable and affordable battery system built for automotive and utility applications. The company's one-million square foot facility in Tianjin has the capacity to produce more than 20,000 battery packs per year. CODA is in final discussions with several states to replicate this facility in the U.S., a move which could create more than 1,000 skilled manufacturing jobs.

"Strategic, global alliances are the key to accelerating the adoption of clean energy and transportation technology that will improve the health of the environment while creating new industries and sustainable jobs," said Kevin Czinger, President and CEO, CODA.

About CODA: Headquartered in Santa Monica, Calif., CODA™ is working to reduce dependence on oil and is leading the way to a cleaner future through advanced battery systems for its 100% electric cars, other electric vehicle manufacturers and utility applications such as wind power storage. CODA is working in a smart, interdependent way with more than 30 leading global technology and manufacturing companies across four continents to quickly and efficiently bring electric drive technology to market. Through its exclusive battery system joint venture with Lishen Power Battery, Lio Energy Systems™, CODA is also a large-scale producer of power battery systems for transportation and utility applications. 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 CODA sedan is a four-passenger, mid-size car with full rear seating and trunk space that is designed to meet American drivers' daily transportation needs without using an ounce of gasoline.

Contact:

K. Forrest Beanum

VP, Public Affairs & Communications, CODA Automotive

(310) 390-4890 Ext. 355

fbeanum@codaautomotive.com


Matt Sloustcher

Public Relations Manager, CODA Automotive

(310) 390-4890 Ext. 352

msloustcher@codaautomotive.com




SOURCE CODA



RELATED LINKS
http://www.codaautomotive.com
http://www.lioenergysystems.com

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