Replies to post #532 on CTT Pharmaceutical Holdings Inc (CTTH)

[pmunch]

Electric car, battery co. to build plant in Ohio
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By Jim Johnson, Crain News Service

SANTA MONICA, Calif. (May 26, 2010) — A California-based electric car and battery company plans to build a lithium-ion battery system manufacturing plant in Ohio.

Coda Automotive Inc. said it is considering several locations in the state and the facility could employ more than 1,000 workers.

Construction of the site is contingent up on finalizing an incentive package from the state as well as approval of a loan through the U.S. Department of Energy (DOE), the company said. An online story on Edmunds.com said that, according to Coda, the application for a DOE Advanced Technology Vehicles Manufacturing loan would “be submitted soon.”

“Coda’s decision to open a facility in our state means that Ohio workers will help manufacture the cars of the 21st century,” U.S. Sen. Sherrod Brown said. “Ohio is quickly becoming a national leader in clean energy component manufacturing for the auto industry.”

Lio Energy Systems, a joint venture between Coda and Lishen Power Battery, would operate the facility. Lio Energy Systems currently operates a site in Tianjin, China, capable of making more than 20,000 battery packs per year.

Edmunds also reported that Coda hopes to put a compact China-built EV—the Coda sedan—on sale in California by year-end, and that the company “anticipates” it can sell more than 14,000 cars in 2011.

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Coda announces first Chinese battery plant in Ohio
8 posts - 4 authors - Last post: May 26, 2010
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[deet49]

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