Coda Raises $76 Million More in EV Effort, Electric cars Li-batteries

source: greentechmedia.com

In November, the former CEO said they were after $60 to $125 million for Chinese-U.S. electric car

Coda Automotive, which wants to bring a Chinese-U.S. electric car out, has raised $76 million in a fourth round of funding. It is good news for the company, which has recently struggled

Manufacturing know how replaced by Goldman Sahchs alum

Heller is not the "scale-up" CEO to bring manufacturing expertise to the company.

Like

Czinger, he's a Goldman Sachs alum.

Screenshot http://www.codaautomotive.com

YOUTUBE: http://www.youtube.com/CodaAutomotive

TWITTER: http://twitter.com/CodaAutomotive

FACEBOOK: http://www.facebook.com/Coda

Coda's car will cost $45,000

before rebates and incentives. The Leaf costs $32,000 and the Mitsubishi i, an all-electric from that company, will sell for $30,000 when it arrives in the Fall of 2011. Both Nissan and Mitsubishi are well-known names already. Coda will have to build a brand for itself. Early demand, however, continues to outstrip supply for electric cars in total so Coda at a minimum will likely enjoy a rabidly curious public.

Financing Harbinger Capital Partners

former Treasury Secretary Hank Paulson is an investor.Then again, the new investors are Harbinger Capital Partners and Riverstone Holdings and Harbinger is said to live up to what its name implies.

Coda a converted chinese car for U.S. ?

Coda's car is based around a gas-burning car on China's streets now that has been retrofitted extensively to run on batteries and meet U.S. safety and consumer standards. U.S. engineers have overseen the retrofit process and the original design of the car comes from Japan. The car will be manufactured in China, but some final assembly could occur in the states. Is it a Chinese car or not? Czinger and I couldn't agree, and neither could two well-known car reviewers. You decide

Related:

CODA Sedan, is a four-door, five-passenger all-electric car.

CODA Holdings: Headquartered in Santa Monica, Calif

CODA Holdings Raises $76 Million in Series D Initial Closing

source: prnewswire.com

About Harbinger Capital Partners: Harbinger Capital Partners was founded in 2001. Harbinger is led by Philip A. Falcone, Chief Executive and Chief Investment Officer, who has more than 20 years of investment experience across an array of market cycles.

About Riverstone Holdings LLC: Riverstone Holdings LLC, an energy and power-focused private equity firm founded in 2000, has approximately $17 billion under management across six investment funds, including the world's largest renewable energy fund. Riverstone conducts buyout and growth capital investments in the midstream, exploration & production, oilfield services, power and renewable sectors of the energy industry. With offices in New York, London and Houston, the firm has committed approximately $15.6 billion to 75 investments in North America, Latin America, Europe and Asia.