Santa Monica, Calif.-based electric automaker Coda Automotive on Friday appointed industry veteran Phil Murtaugh as chief executive officer. He replaces interim CEO Steven "Mac" Heller, who will become executive chairman.
Murtaugh comes to Coda from the Chinese division of General Motors, where he spent 15 years growing the unit to a 15,000-employee operation with more than $7 billion in revenue.
Murtaugh brings that expertise to Coda, which expects to locate most of its manufacturing efforts in the Asian country. With $76 million in new funding and a joint venture with Tianjin's Lishen Power Battery in place, the company is looking to begin constructing its own retail locations in well-trafficked areas.
Coda founder and co-chairman Miles Rubin will become chairman emeritus, but remain a company director.