CODA Automotive Raises $21.5M, Targets $150M In New Financing

Santa Monica-based CODA Automotive, the developer of electric vehicles and battery systems, has raised $21.5M in new, equity funding, with plans to raise a total of $150M, according to a regulatory filing by the firm this week. The funding is on top of the $150M in its latest round, which it closed in September. CODA has raised over $300M in financing so far for its efforts to bring an electric car to market. CODA--along with Irvine's Fisker Automotive--has been driving a huge chunk of the investment dollars in Southern California in the clean technology area. More information »