City Council Approves $33M Incentive for Coda Automotive Battery Plant

A piece of the puzzle needed to bring a battery-making plant and 1,000 jobs to Columbus is locked in place. Columbus City Council at its Monday meeting approved a three-part incentive package valued at up to $32.6 million for Lio Energy Systems, a joint venture between Santa Monica, Calif.-based Coda Automotive Inc. and Lishen Power Battery of China. Coda in May announced plans to build a plant in Columbus that would make lithium ion batteries for plug-in electric cars. The $657 million investment at the shuttered Alcatel-Lucent plant at East Broad Street could employ up to 1,000.

For more, see the story in Business First.