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China/USA: Paulson to Advise Electric-Car Startup Coda on China Partners

July 29 (Bloomberg) — Coda Automotive said former U.S. Treasury Secretary Henry Paulson will serve as an adviser to the startup electric-car maker on partnerships in China.

Paulson has “deep, personal relationships in China and unique insights into the country and its people,” the Santa Monica, California-based company said today in a statement. Coda also said Paulson invested in the company earlier this year, without giving details.

Coda plans to deliver its first model, a sedan, next year. The company, which began operating in June, intends to make and distribute electric vehicles and battery systems for transportation use. Major automakers also are developing battery-powered cars and trucks as governments push for increased fuel efficiency and reduced emissions.

Source: www.bloomberg.com

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