Coda Holdings, the company behind the all-electric Coda Sedan, announced today that is has raised another $76 million. The money was raised in a Series D referred investment round, which has now closed, and brings Coda's total invested capital to more than $200 million. Even though the company's original plan was to have the Sedan available in California by the end of 2010, the money just raised will be used to, "prepare for start of production of the company's flagship all-electric vehicle, the Coda Sedan, and to support the company's 2011 sales and marketing efforts." It will also be used for LIO Energy Systems, Coda's battery production joint venture with Lishen Power Battery. That is, it will be used for a LIO production facility if the DOE decides to give Coda the Advanced Technology Vehicles Manufacturing loan it has applied for.
People involved with Coda – founder Miles Rubin and interim CEO Steven "Mac" Heller – participated in the funding, as well as new investors Harbinger Capital Partners and Riverstone Holdings LLC, which will both now get a seat on Coda's Board of Directors. More details are available after the jump, and you can read about Coda's plans to try and bring the delayed Sedan to market in 2011 here.
*UPDATE: Coda let us know that the Series D round is not closed yet (this is the first close) and "Up to $125 million is being offered in the round." Also, some of the money will be spent on LIO's existing facility in Tianjin, not just on a potential future American battery production facility with the DOE's help.