Former U.S. Treasury Secretary Henry M. Paulson, Jr. Joins CODA Automotive Advisory Board

SANTA MONICA, Calif., July 29, 2024 /PRNewswire/ -- CODA Automotive™, a California-based electric car and battery company, announced today that former U.S. Treasury Secretary Henry M. Paulson, Jr. (www.treas.gov/education/history/secretaries/hmpaulson.shtml), who has extensive business and political experience in China, will serve as an advisor, providing guidance on the company’s Chinese partnership activities.

“CODA’s non-capital intensive business model and globally collaborative partnership strategy persuaded me to join the advisory board,” said Mr. Paulson. “CODA Automotive’s approach will enable them to release the CODA electric sedan next year.”

While serving as Secretary of the Treasury, Mr. Paulson initiated and led the U.S.-China Strategic and Economic Dialogue (www.ustreas.gov/initiatives/us-china/), a forum and mechanism under which the two countries addressed global areas of immediate and long-term strategic and economic interest. Prior to serving as Treasury Secretary, Mr. Paulson led Goldman Sachs as chairman and chief executive officer. Through his leadership of a number of conservation organizations, he has been a strong advocate for conservation in the U.S. and in China and for immediate serious action to decrease the effects of climate change. Mr. Paulson invested in CODA’s Series B funding round earlier this spring.

“We look forward to the valuable guidance Henry Paulson will provide as we continue to work closely with our partners on battery system technology and quality manufacturing,” said Kevin Czinger, president and CEO, CODA Automotive. “Over the course of a distinguished business and political career, Mr. Paulson has developed both deep, personal relationships in China and unique insights into the country and its people. His genuine concern for nature has also led him to work with Chinese policymakers on practical solutions for global reduction of greenhouse gases and the preservation of wildlife – including his collaboration with then Chinese President Jiang Zemin to preserve Tiger Leaping Gorge in Yunnan.”

Other new additions to the CODA Board of Advisors in the second quarter of 2009 included Thomas F. “Mack” McLarty, Thomas F. Steyer and Dr. Thomas Cardello. Mr. McLarty, a prominent business and political leader, served as the Chief of Staff for President Clinton and is now the president of McLarty Associates, a Washington-based consulting company, and the CEO of McLarty Companies, a national automotive retailer. Mr. Steyer is managing partner and chief investment officer of Farallon Capital Management, a leading California-based investment firm. Dr. Cardello is a partner at Sunrise Capital, an institutional fund manager, and an advisory director and a former managing director of Morgan Stanley.

Mr. Paulson, Mr. McLarty, Mr. Steyer and Dr. Cardello join John Wallace, and Dr. Michael Wang on the Board of Advisors. With 25 years in engineering and experience leading Ford’s electric vehicle and alternative fuel programs, Mr. Wallace is a significant asset to CODA’s engineering team. Dr. Wang is the manager of the electric vehicle systems assessment section of the Center for Transportation Research at Argonne Labs.

About CODA Holdings: Headquartered in Santa Monica, Calif., CODA Holdings is working to reduce dependence on oil and is leading the way to a cleaner future through multi-use advanced battery systems for its all electric car, other electric vehicle manufacturers and a range of all utility applications such as wind and water power storage. CODA is working in a smart, interdependent way with more than 30 leading global technology and manufacturing companies to quickly and efficiently bring electric power battery technology to market. Through its exclusive battery system joint venture with Lishen Power Battery, LIO Energy Systems, CODA is also a large-scale producer of power battery systems for transportation and utility applications. The CODA™ Sedan is a four-door, five-passenger sedan with a full-size trunk that is designed to meet American drivers' daily transportation needs without using an ounce of gasoline.

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SOURCE CODA Holdings