Coda Automotive Raises Nearly $400 Million for Joint Battery Venture
Coda Automotive, a Santa Monica, Calif.-based electric car and battery company, has secured $394 million in capital commitments for its joint venture with Lishen Power Battery. The deal includes $100 million in equity from undisclosed backers, and a $294 million line of credit commitment from the Bank of Tianjin Joint-Stock Co. CODA previously raised over $75 million in VC funding from the Angeleno Group, company founder Miles Rubin, Mac Heller (Coda co-chair), Kevin Czinger (Coda president and CEO), Hank Paulsen (former U.S. Treasury Secretary), John Bryson (ex-Edison Int'l CEO), Mack McLarty (former chief of staff for President Clinton) and Thomas Steyer (founder of Farallon Capital Management).
30 March 2010•2 mins read
