Coda Automotive
Encyclopedia
CODA Automotive Inc. is a privately held American company headquartered in Los Angeles, California
, that designs, semi manufactures, and sells electric vehicles (EVs) and Lithium-ion (LiFePO4) battery systems built for automotive and power storage utility applications. The word CODA is a musical term
that denotes the concluding passage of a piece of music, from the Italian word coda (tail). CODA Automotive has said that it chose the name because its electric vehicle technology represents an end for combustion engine vehicles and the start of the electric vehicle era.
CODA’s first vehicle, the CODA, is a four-door, five passenger electric car
powered by a battery pack that will deliver a range
of 150 miles (241.4 km) per charge according to CODA. The electric car market launch has been re-scheduled several times and now is slated for delivery in late 2011. Initially the all-electric CODA will be available only in California
.
In June 2009, CODA announced the creation and funding of LIO Energy Systems, a global joint-venture with Lishen Power Battery. LIO Energy Systems was formed with the purpose of designing, manufacturing and selling battery systems for electric vehicles and utility applications. LIO Energy Systems will supply battery systems to CODA Automotive for use in the all-electric CODA, to other automotive OEMs globally, and to renewable energy producers, utilities and other power storage customers.
s and renewable energy technology globally. To this end, CODA has focused on improving performance and safety, reducing cost and commercializing production of battery systems built for automotive applications, which it views as the “chief enabling technology” for all-electric cars. To reduce the cost of building its vehicles, CODA controls all core design and engineering work internally while partnering with established automotive manufacturers and suppliers around the world. CODA’s supply chain partners include BorgWarner
, UQM Technologies, EnergyCS
, Continental Automotive Systems
, Porsche Design Studios, Delphi, Celgard, Novolyte Technologies, OMITEC, Lear, Hella, Hafei
and Lishen. In total, CODA has more than thirty suppliers and partners on four continents.
(BEV), the CODA. The car is powered by a 34 kWh lithium ion iron phosphate (LiFePO4) battery system that is substantially larger than that of other vehicles in its class. CODA states the vehicles' range
to be up to 150 mi (241.4 km) per charge but the United States Environmental Protection Agency
(EPA) has not published yet the official range. The battery system features an active thermal management system, which CODA states will give the vehicle a more dependable range than other BEVs and improved battery system durability. The vehicle features a 6.6 kW
on board charger which charges the vehicle at a rate twice that of the Nissan Leaf and Chevy Volt. It can be charged from depletion in under six hours when plugged into a level-two (220V) charge station. The company estimates that it will cost less than , on average, to charge the vehicle overnight (160 km). The car is backed by a 3-year, 36,000 mile limited warranty and the battery system is backed by an 10-year, 100,000 mile limited warranty.
In order to reduce the cost of building a vehicle from the ground-up, CODA re-engineered an existing, gasoline powered vehicle, the Hafei Saibao. The car was designed by Pininfarina
and unveiled at the 2004 Beijing Auto Show. The base Saibao chassis is licensed by Mitsubishi. CODA engineers modified the design to improve safety and successfully completed two of the tests necessary to gain FMVSS certification in the second quarter of 2009; The full frontal impact test at 35 miles per hour (15.6 m/s) and the 40% offset test at 45 miles per hour (20.1 m/s). Safety features include a 6-air bag system, pre-tensioner equipped seat belts, occupant detection, knee bolsters and a collapsible steering column. The company expects the vehicle will achieve a four or five-star NCAP crash rating.
CODA announced that net price will be before any electric vehicle federal tax credit and other state and local incentives that are available in the U.S. Initial deliveries of the vehicle were planned for December 2010 but were pushed back to the second half of 2011 as CODA decided to have more time available to ensure the quality of the car, and later were again re-scheduled for late 2011. The electric car will be initially available only in California
.
CODA made its consumer auto show debut at the Los Angeles Auto Show November 19-28, 2010. As part of an ongoing commitment to educate consumers about sustainability and green energy technology, CODA will host a series of educational seminars throughout the show, ultimately reaching more than 600 students. Like its business model and car, CODA's booth was a break from tradition and was designed to showcase the company's brand identity. "Zen meets Tech" is the overarching aesthetic theme. The booth was constructed largely out of eco-friendly materials. The walls are constructed from salvaged Picklewood that was collected from various sites in North America. The floor is made from recycled rubber, the graphics are printed on recycled papers with eco-friendly inks and live plants have been incorporated. A central element of the booth is the "Commitment Wall" which visitors will populate with their thoughts on sustainability, the environment and green technology. A large media wall showcased a variety of videos about CODA, its employees and the benefits of electric vehicles.
, Motorola
and Apple, for the design, manufacture and sale of battery systems called LIO Energy Systems. The name was selected because “LIO” is the semordnilap (reverse spelling) of “oil.” Together, CODA and Lishen developed a lithium iron phosphate battery cell for transportation and utility applications including renewable energy (wind and solar power) storage. LIO Energy Systems currently operates a manufacturing facility in Tianjin
and plans to build a U.S. facility in Columbus, Ohio
. Initially, the CODA will be the primary recipient of the battery systems produced by LIO. LIO's production capacity will total 1.4 billion amp hours in Tianjin, China at full scale. With the completion of the Ohio plant, total capacity will reach two billion Ah (6.3 million kWh) of energy storage.
In May 2010 U.S. Secretary of Commerce Gary Locke
visited the LIO Energy Systems facility in Tianjin
as part of the Obama administration's first cabinet-level trade mission to China. Commenting on the visit, Locke said "International green technology partnerships can produce rapid job growth back home and deliver energy solutions abroad, and CODA's venture proves it."
CODA’s investors include:
Silicon Valley networking organization AlwaysOn selected CODA as one of the top privately held companies focused on green technology in its GoingGreen 100 list for 2010.
Los Angeles, California
Los Angeles , with a population at the 2010 United States Census of 3,792,621, is the most populous city in California, USA and the second most populous in the United States, after New York City. It has an area of , and is located in Southern California...
, that designs, semi manufactures, and sells electric vehicles (EVs) and Lithium-ion (LiFePO4) battery systems built for automotive and power storage utility applications. The word CODA is a musical term
Coda (music)
Coda is a term used in music in a number of different senses, primarily to designate a passage that brings a piece to an end. Technically, it is an expanded cadence...
that denotes the concluding passage of a piece of music, from the Italian word coda (tail). CODA Automotive has said that it chose the name because its electric vehicle technology represents an end for combustion engine vehicles and the start of the electric vehicle era.
CODA’s first vehicle, the CODA, is a four-door, five passenger electric car
Electric car
An electric car is an automobile which is propelled by electric motor, using electrical energy stored in batteries or another energy storage device. Electric cars were popular in the late-19th century and early 20th century, until advances in internal combustion engine technology and mass...
powered by a battery pack that will deliver a range
All-electric range
All-electric range is the driving range of a vehicle using only power from its electric battery pack to traverse a given driving cycle. In the case of a battery electric vehicle, it means the total range per charge. For a plug-in hybrid , it means the range of the vehicle in charge-depleting mode...
of 150 miles (241.4 km) per charge according to CODA. The electric car market launch has been re-scheduled several times and now is slated for delivery in late 2011. Initially the all-electric CODA will be available only in California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
.
In June 2009, CODA announced the creation and funding of LIO Energy Systems, a global joint-venture with Lishen Power Battery. LIO Energy Systems was formed with the purpose of designing, manufacturing and selling battery systems for electric vehicles and utility applications. LIO Energy Systems will supply battery systems to CODA Automotive for use in the all-electric CODA, to other automotive OEMs globally, and to renewable energy producers, utilities and other power storage customers.
Corporate strategy and partners
CODA Automotive’s goal is to accelerate the adoption of electric vehicleElectric vehicle
An electric vehicle , also referred to as an electric drive vehicle, uses one or more electric motors or traction motors for propulsion...
s and renewable energy technology globally. To this end, CODA has focused on improving performance and safety, reducing cost and commercializing production of battery systems built for automotive applications, which it views as the “chief enabling technology” for all-electric cars. To reduce the cost of building its vehicles, CODA controls all core design and engineering work internally while partnering with established automotive manufacturers and suppliers around the world. CODA’s supply chain partners include BorgWarner
BorgWarner
BorgWarner Inc. is a United States-based worldwide automotive industry components and parts supplier. It is primarily known for its powertrain products, which include manual and automatic transmissions and transmission components, , turbochargers, engine valve timing system...
, UQM Technologies, EnergyCS
EnergyCS
EnergyCS is a Monrovia, California based company specializing in integration and controls for high-energy, large format batteries. The company provides battery management systems for lithium-ion batteries and other advance energy storage technologies and is active in the electric vehicle and...
, Continental Automotive Systems
Continental Automotive Systems
Continental Automotive Systems , founded in 1906 by Alfred Teves, a division of Continental AG, is a leading brake and electronics supplier to the automotive industry, delivering systems, components, electronics, lithium-ion batteries and engineering services for vehicle safety, comfort and...
, Porsche Design Studios, Delphi, Celgard, Novolyte Technologies, OMITEC, Lear, Hella, Hafei
Hafei
Hafei, officially the Harbin HF Automobile Industry Group Co Ltd , is a Chinese holding company whose subsidiaries make automobile engines; sedans; MPVs; and mini vehicles, small trucks and vans that see commercial use...
and Lishen. In total, CODA has more than thirty suppliers and partners on four continents.
CODA
CODA’s first car is an all-electric four-door, five passenger battery electric vehicleBattery electric vehicle
A battery electric vehicle, or BEV, is a type of electric vehicle that uses chemical energy stored in rechargeable battery packs. BEVs use electric motors and motor controllers instead of, or in addition to, internal combustion engines for propulsion.A battery-only electric vehicle or...
(BEV), the CODA. The car is powered by a 34 kWh lithium ion iron phosphate (LiFePO4) battery system that is substantially larger than that of other vehicles in its class. CODA states the vehicles' range
All-electric range
All-electric range is the driving range of a vehicle using only power from its electric battery pack to traverse a given driving cycle. In the case of a battery electric vehicle, it means the total range per charge. For a plug-in hybrid , it means the range of the vehicle in charge-depleting mode...
to be up to 150 mi (241.4 km) per charge but the United States Environmental Protection Agency
United States Environmental Protection Agency
The U.S. Environmental Protection Agency is an agency of the federal government of the United States charged with protecting human health and the environment, by writing and enforcing regulations based on laws passed by Congress...
(EPA) has not published yet the official range. The battery system features an active thermal management system, which CODA states will give the vehicle a more dependable range than other BEVs and improved battery system durability. The vehicle features a 6.6 kW
Kw
kw or KW may refer to:* Kuwait, ISO 3166-1 country code** .kw, the country code top level domain for Kuwait* Kilowatt* Self-ionization of water Kw* Cornish language's ISO 639 code* Kitchener–Waterloo, Ontario, Canada...
on board charger which charges the vehicle at a rate twice that of the Nissan Leaf and Chevy Volt. It can be charged from depletion in under six hours when plugged into a level-two (220V) charge station. The company estimates that it will cost less than , on average, to charge the vehicle overnight (160 km). The car is backed by a 3-year, 36,000 mile limited warranty and the battery system is backed by an 10-year, 100,000 mile limited warranty.
In order to reduce the cost of building a vehicle from the ground-up, CODA re-engineered an existing, gasoline powered vehicle, the Hafei Saibao. The car was designed by Pininfarina
Pininfarina
Pininfarina S.p.A. is an Italian car design firm and coachbuilder in Cambiano, Italy.Founded as Società anonima Carrozzeria Pinin Farina in 1930 by automobile designer and builder Battista "Pinin" Farina, Pininfarina has been employed by a wide variety of high-end automobile manufacturers,...
and unveiled at the 2004 Beijing Auto Show. The base Saibao chassis is licensed by Mitsubishi. CODA engineers modified the design to improve safety and successfully completed two of the tests necessary to gain FMVSS certification in the second quarter of 2009; The full frontal impact test at 35 miles per hour (15.6 m/s) and the 40% offset test at 45 miles per hour (20.1 m/s). Safety features include a 6-air bag system, pre-tensioner equipped seat belts, occupant detection, knee bolsters and a collapsible steering column. The company expects the vehicle will achieve a four or five-star NCAP crash rating.
CODA announced that net price will be before any electric vehicle federal tax credit and other state and local incentives that are available in the U.S. Initial deliveries of the vehicle were planned for December 2010 but were pushed back to the second half of 2011 as CODA decided to have more time available to ensure the quality of the car, and later were again re-scheduled for late 2011. The electric car will be initially available only in California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
.
CODA made its consumer auto show debut at the Los Angeles Auto Show November 19-28, 2010. As part of an ongoing commitment to educate consumers about sustainability and green energy technology, CODA will host a series of educational seminars throughout the show, ultimately reaching more than 600 students. Like its business model and car, CODA's booth was a break from tradition and was designed to showcase the company's brand identity. "Zen meets Tech" is the overarching aesthetic theme. The booth was constructed largely out of eco-friendly materials. The walls are constructed from salvaged Picklewood that was collected from various sites in North America. The floor is made from recycled rubber, the graphics are printed on recycled papers with eco-friendly inks and live plants have been incorporated. A central element of the booth is the "Commitment Wall" which visitors will populate with their thoughts on sustainability, the environment and green technology. A large media wall showcased a variety of videos about CODA, its employees and the benefits of electric vehicles.
Battery production and distribution joint-venture
CODA has a global joint-venture with Lishen Power Battery, a global battery cell supplier to SamsungSamsung
The Samsung Group is a South Korean multinational conglomerate corporation headquartered in Samsung Town, Seoul, South Korea...
, Motorola
Motorola
Motorola, Inc. was an American multinational telecommunications company based in Schaumburg, Illinois, which was eventually divided into two independent public companies, Motorola Mobility and Motorola Solutions on January 4, 2011, after losing $4.3 billion from 2007 to 2009...
and Apple, for the design, manufacture and sale of battery systems called LIO Energy Systems. The name was selected because “LIO” is the semordnilap (reverse spelling) of “oil.” Together, CODA and Lishen developed a lithium iron phosphate battery cell for transportation and utility applications including renewable energy (wind and solar power) storage. LIO Energy Systems currently operates a manufacturing facility in Tianjin
Tianjin
' is a metropolis in northern China and one of the five national central cities of the People's Republic of China. It is governed as a direct-controlled municipality, one of four such designations, and is, thus, under direct administration of the central government...
and plans to build a U.S. facility in Columbus, Ohio
Columbus, Ohio
Columbus is the capital of and the largest city in the U.S. state of Ohio. The broader metropolitan area encompasses several counties and is the third largest in Ohio behind those of Cleveland and Cincinnati. Columbus is the third largest city in the American Midwest, and the fifteenth largest city...
. Initially, the CODA will be the primary recipient of the battery systems produced by LIO. LIO's production capacity will total 1.4 billion amp hours in Tianjin, China at full scale. With the completion of the Ohio plant, total capacity will reach two billion Ah (6.3 million kWh) of energy storage.
In May 2010 U.S. Secretary of Commerce Gary Locke
Gary Locke
Gary Locke may refer to:*Gary Locke , Chinese American politician; U.S. Secretary of Commerce and former Governor of Washington*Gary Locke *Gary Locke...
visited the LIO Energy Systems facility in Tianjin
Tianjin
' is a metropolis in northern China and one of the five national central cities of the People's Republic of China. It is governed as a direct-controlled municipality, one of four such designations, and is, thus, under direct administration of the central government...
as part of the Obama administration's first cabinet-level trade mission to China. Commenting on the visit, Locke said "International green technology partnerships can produce rapid job growth back home and deliver energy solutions abroad, and CODA's venture proves it."
Financial history & investors
On January 6, 2011 CODA announced the first close of a Series D investment round, bringing the company’s “total invested capital” to more than . Lio Energy Systems, CODA's joint venture with Lishen, is funded by a equity investment by the partners and has entered into “cooperation agreements” for “up to of long-term credit.”CODA’s investors include:
- Aeris CAPITAL – a private Swiss investment office
- Harbinger Capital PartnersHarbinger CapitalHarbinger Capital Partners is a private hedge fund based in New York City, New York.-Background:Harbinger was founded by its Senior Managing Director Philip Falcone and Harbert Management Corporation, a Birmingham, Alabama-based investment company that provided much of the original funding. Falcone...
- private hedge fund based in New York City, New York. - Riverstone HoldingsRiverstone HoldingsRiverstone Holdings is a private equity firm focused on leveraged buyout and growth capital investments in the energy and power sectors. The firm focuses on oil and gas exploration, midstream pipeline, electric generation, energy and power services as well as energy and power technology...
- a private equity firm based in New York City, New York. - Piper JaffrayPiper JaffrayPiper Jaffray & Co. , often shortened to just Piper Jaffray or PiperJaffray, is a U.S. middle-market investment banking firm based in Minneapolis, Minnesota, and sells financial advice, investment products, and transaction execution within targeted sectors of the financial services marketplace...
- a U.S. middle-market investment banking firm based in Minneapolis, Minnesota - Angeleno Group – a Los Angeles based private equity firm
- EDB Investments (EDBI) – an investment firm headquartered in Singapore
- Countyline LLC – an investment entity owned by Tony Pritzker and J.B. Pritzker
- Miles L. Rubin – Founder and Chairman Emeritus of CODA Automotive; former CEO of Detroit Iron & Steel Industries, Reliance Manufacturing, Puritan Fashions Corp. and Polo Ralph Lauren Jeanswear
- Steven “Mac” Heller – Executive Chairman of CODA Automotive; former Goldman Sachs Head of Mergers & Acquisitions, Worldwide and Co-Head of the Investment Banking Division
- Tom SteyerTom SteyerThomas "Tom" Fahr Steyer is an American asset manager, philanthropist and environmentalist.He is the founder and Co-Senior Managing Partner of Farallon Capital Management, LLC and the co-founder of the OneCalifornia Bank, an Oakland-based community development bank...
– Managing Director of Hellman & Friedman, a San Francisco private equity firm; Founder, Co-Managing Partner and Chief Investment Officer of Farallon CapitalFarallon CapitalFarallon Capital Management, L.L.C. is an American global investment firm that manages capital on behalf of institutions and individuals. The firm was founded by Tom Steyer in 1986...
; member of the Board of Trustees of Stanford University - Les WexnerLes WexnerLeslie "Les" H. Wexner is an American businessman from Columbus, Ohio, and currently chairman and CEO of the Limited Brands corporation.-Professional:...
– Chairman and CEO of Limited Brands - Henry "Hank" PaulsonHenry PaulsonHenry Merritt "Hank" Paulson, Jr. is an American banker who served as the 74th United States Secretary of the Treasury. He previously served as the Chairman and Chief Executive Officer of Goldman Sachs.-Early life and family:...
- former U.S. Secretary of the Treasury, former Chairman and CEO of Goldman Sachs and special representative of the U.S.-China Strategic Economic Dialogue - Mack McLartyMack McLartyThomas F. "Mack" McLarty III is a prominent Arkansas business and political leader and former White House Chief of Staff for US President Bill Clinton...
– (Thomas "Mack" McLarty) Former Chief of Staff for President Bill Clinton, President of McLarty Associates and McLarty Companies, a transportation business based in Little Rock, Arkansas - Kevin Czinger - Senior Strategic Advisor, CODA Automotive; Former President and CEO at CODA Automotive, executive at Global Signal, Webvan Group, Bertelsmann AG, and Goldman Sachs
Board of Directors
- Miles L. Rubin - Founder and Chairman Emeritus, CODA Automotive; former CEO of Detroit Iron & Steel Industries, Reliance Manufacturing, Puritan Fashions Corp. and Polo Ralph Lauren Jeanswear
- Steven “Mac” Heller - Executive Chairman, CODA Automotive; former Goldman Sachs Head of Mergers & Acquisitions, Worldwide and Co-Head of the Investment Banking Division
- Alan Chesick - Acting Legal Advisor of CODA Automotive, former general counsel of Fortress Investment Group
- Daniel Weiss - Co-Founder and Managing Partner at Angeleno Group LLC, a leading Los Angeles-based private equity firm focused on high growth investments in the energy sector
- John BrysonJohn BrysonJohn E. Bryson is the 37th Secretary of Commerce. The Senate confirmed him by a 74–26 vote on October 20, 2011. He was sworn in on October 21, 2011...
- Former Chairman, CEO and President of Edison International from 1990 through 2008, a director at The Boeing Company, The Walt Disney Company, and the California Institute of Technology - Niall Davis - One of ten founding partners of Swiss aeris CAPITAL AG, a large global private equity firm
- Philip Murtaugh - CEO, CODA Automotive; former Chairman and Chief Executive Officer of GM China, EVP International Operations of SAIC
- James P. McGinnis - Managing Director, Harbinger Capital PartnersHarbinger CapitalHarbinger Capital Partners is a private hedge fund based in New York City, New York.-Background:Harbinger was founded by its Senior Managing Director Philip Falcone and Harbert Management Corporation, a Birmingham, Alabama-based investment company that provided much of the original funding. Falcone...
- Lord John BrowneJohn Browne, Baron Browne of MadingleyEdmund John Philip Browne, Baron Browne of Madingley, FRS FREng is President of the Royal Academy of Engineering and was group Chief Executive of BP until his resignation on 1 May 2007...
– Managing Director and Managing Partner of Riverstone HoldingsRiverstone HoldingsRiverstone Holdings is a private equity firm focused on leveraged buyout and growth capital investments in the energy and power sectors. The firm focuses on oil and gas exploration, midstream pipeline, electric generation, energy and power services as well as energy and power technology...
LLC, President of the Royal Academy of EngineeringRoyal Academy of Engineering-Overview: is the UK’s national academy of engineering. The Academy brings together the most successful and talented engineers from across the engineering sectors for a shared purpose: to advance and promote excellence in engineering....
, Chair of the TateTate-Places:*Tate, Georgia, a town in the United States*Tate County, Mississippi, a county in the United States*Táté, the Hungarian name for Totoi village, Sântimbru Commune, Alba County, Romania*Tate, Filipino word for States...
, Member of the House of LordsHouse of LordsThe House of Lords is the upper house of the Parliament of the United Kingdom. Like the House of Commons, it meets in the Palace of Westminster....
}}
Board of Advisors
- Mack McLartyMack McLartyThomas F. "Mack" McLarty III is a prominent Arkansas business and political leader and former White House Chief of Staff for US President Bill Clinton...
– (Thomas "Mack" McLarty) Former Chief of Staff for President Bill Clinton, President of McLarty Associates and McLarty Companies, a transportation business based in Little Rock, Arkansas - Dr. Thomas Cardello – Partner of Sunrise Capital, an institutional fund manager, Advisory Director and former MD of Global Electronic Derivative Market making for Morgan Stanley
- Dr. Michael Wang – Manager of the Systems Assessment Section of the Center for Transportation Research at Argonne Labs, serves as a senior advisor to the Chinese government on new vehicle technology and alternative energy production
- Henry "Hank" PaulsonHenry PaulsonHenry Merritt "Hank" Paulson, Jr. is an American banker who served as the 74th United States Secretary of the Treasury. He previously served as the Chairman and Chief Executive Officer of Goldman Sachs.-Early life and family:...
- former U.S. Secretary of the Treasury, former Chairman and CEO of Goldman Sachs and special representative of the U.S.-China Strategic Economic Dialogue - Thomas F. Steyer - Managing Director of Hellman & Friedman, a San Francisco private equity firm; Founder, Co-Managing Partner and Chief Investment Officer of Farallon Capital; member of the Board of Trustees of Stanford University
- Woo C. Lee - Head of Asia for the advisory firm JL Thornton & Company, formerly a U.S. diplomat at American embassies in China, Japan, Australia and Southeast Asia
- Thomas R. McDaniel - Director of SunPower Corp., SemGroup, LP, Cypress Envirosystems, and the Senior Care Action Network and Formerly executive vice president, chief financial officer and treasurer of Edison International
- Kevin Czinger - Senior Strategic Advisor, CODA Automotive; Former President and CEO at CODA Automotive, executive at Global Signal, Webvan Group, Bertelsmann AG, and Goldman Sachs
Awards
Lung disease advocacy group Breathe California named CODA a Clean Air Award winner in the technology development category on April 19, 2010.Silicon Valley networking organization AlwaysOn selected CODA as one of the top privately held companies focused on green technology in its GoingGreen 100 list for 2010.