SANTA MONICA, Calif. (AP) -- Southern California electric car and battery maker Coda Holdings has raised $76 million of new investments in preparation for the production of its all-electric flagship vehicle.
The Santa Monica-based company said Wednesday that the new funds bring its total invested capital to more than $200 million as it looks to begin production of the four-door, five-passenger Coda Sedan and to develop its Lithium-ion battery systems.
New investors in the company include Harbinger Capital Partners, and current investors who contributed include company founder and co-chairman Miles Rubin.
The company had planned to start selling the sedan in 2010 but has delayed the beginning of production until the second half of this year.
The Santa Monica-based company said Wednesday that the new funds bring its total invested capital to more than $200 million as it looks to begin production of the four-door, five-passenger Coda Sedan and to develop its Lithium-ion battery systems.
New investors in the company include Harbinger Capital Partners, and current investors who contributed include company founder and co-chairman Miles Rubin.
The company had planned to start selling the sedan in 2010 but has delayed the beginning of production until the second half of this year.
