EV Maker CODA Receives Innovation Award

All-electric vehicles company CODA Holdings has received the Los Angeles Business Journal’s Patrick Soon-Shiong Innovation Award.

The award recognizes organizations and executives with proven influential innovation and business development prowess in Los Angeles. The award was announced at the third annual Los Angeles Business Journal’s Patrick Soon-Shiong Innovation Awards dinner held Nov. 15, 2012.

“Los Angeles fosters the growth of some of the world’s most creative and competitive companies, and we’re honored that CODA has been recognized among such a distinguished group of business leaders,” said Phil Murtaugh, CODA Holdings CEO. “CODA recognizes that the successful introduction of new technologies requires a concerted effort by local and national policymakers, industry leaders and other stakeholders, and we’re honored that Dr. Patrick Soon-Shiong and the Los Angeles Business Journal supports our vision of delivering affordable electric vehicles that are powered by locally-produced renewable energy sources.”

According to the Los Angeles Business Journal, the company’s capital-efficient model, which allows resources to be focused on investments in technology and innovation, including its efforts in deploying all-electric vehicles and supporting renewable energy growth globally, led CODA to win the award.

The business journal also stated that being focused on improving performance and safety, reducing cost, and commercializing production of its advanced energy storage systems and 2012 all-electric sedan, CODA is a key technology provider that will help support reduce the global market’s dependence on fossil fuels.

“The third annual Los Angeles Business Journal’s Patrick Soon-Shiong Innovation Awards recognizes entrepreneurs and companies who are currently driving business in our region,” said Matthew Toledo, publisher and CEO of the Los Angeles Business Journal. “The Los Angeles Business Journal, Patrick Soon-Shiong and the awards committee are thrilled to recognize CODA Holdings and its employees for their contributions to the clean technology industry.”