Thursday, November 10, 2011
Electric carmaker CODA opens global HQ in LA
Electric carmaker CODA Automotive Inc. opened its worldwide headquarters in Los Angeles on Thursday, strengthening California's bid to become the hub of clean-energy business the state hopes will create thousands of new jobs CODA, a startup company that began in Santa Monica, formally unveiled a 100,000-square-foot engineering, research and sales center that has more than 200 employees "it is a milestone. We started with a few people in a Santa Monica hangar just about four years ago," CODA spokeswoman Larkin Hill said.
"Dynamic innovation is a key building block of California's 21st century economy," Gov. Jerry Brown said at the ceremony. "Car companies like CODA are investing in California because our laws encourage electric cars and recognize the paramount importance of reducing oil dependency We see it as a catalyst that will usher in new jobs, more investment, and a stronger clean-tech industry to Los Angeles," Mayor Antonio Villaraigosa said.
CODA is working on a five-passenger sedan with a range of up to 150 miles per charge. It will be manufactured in China and final assembly will take place at a plant in Benicia, Calif. The car will sell for $44,900, or $32,400 after federal and state credits for electric vehicles.