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Coda Abandons Plan to Make EV Batteries in Ohio
Coda Automotive Inc. has canceled plans to open a plant in Columbus, Ohio, to make lithium-ion batteries for electric cars, The Columbus Dispatch reports.
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Coda Automotive Inc. has canceled plans to open a plant in Columbus, Ohio, to make lithium-ion batteries for electric cars, The Columbus Dispatch reports.
The Santa Monica, Calif.-based startup says it canceled the factory because of the U.S. Dept. of Energy's failure to make a decision about Coda's application for a $500 million loan. The money would have helped fund the facility, which was to be a joint venture with Coda's battery partner, China's Lishen Power Battery.
The venture partners are supplying batteries made in China for the oft-delayed $45,000 Coda electric sedan, which made its sales debut last month. Partner Hafei Automobile Group is assembling most of the car, which is based on a previous-generation Mitsubishi chassis, in China.
In mid-March, the sedans originally due at the end of 2010 began rolling off the line at a plant in Benicia, Calif., which installs the car's electric drivetrain.
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