CODA Automotive Announces More Affordable Mileage Range Option for 2012 All-Electric Sedan

January 10, 2012 – Vol.16 No.43

CODA Automotive Announces More Affordable Mileage Range Option for 2012 All-Electric Sedan.

CODA Automotive has announced that the zero-emission CODA sedan will have two mileage range and price options in 2012. In addition to the original model, offering up to a 150-mile range with a MSRP of $39,900, the new 31kWh battery option will provide a driving range of up to 125 miles(i) and will be available at a lower base MSRP of $37,250. After federal tax savings, the base price will be $29,750, and will qualify for additional state tax credits, including a maximum of $2,500 in California and up to $7,500 in 12 other states(ii). The company developed this option for the launch of its first vehicle to accelerate the adoption of electric vehicles in 2012.

"Since day one, CODA has been committed to deliver affordable and reliable electric vehicles and clean technology to customers," said Phil Murtaugh, CEO, CODA Holdings. "Research shows that the high cost of today's alternative fuel technologies is one of the largest barriers that keep the average driver from purchasing an electric vehicle. Our continuous dedication to identifying affordable solutions and passing the savings on to our customers aligns with our mission of putting an electric vehicle into every garage."

The new 2012 CODA sedan mileage range option will maintain the key features for which the company is known. The first all-electric five-passenger, mid-size sedan with full rear seating and trunk space meets American drivers' daily transportation needs without an ounce of gasoline.

The 2012 CODA comes with a 6.6kW onboard charger a 100-mile charge in as few as four hours and is the only electric vehicle sedan is powered Lithium-iron Phosphate (LiFePo4) battery pack with a 10-year, 100,000-mile battery warranty.

CODA Holdings is a developer of advanced Lithium-ion power battery systems comprised of three key business lines: CODA Automotive, CODA EV Propulsion Systems and CODA Energy. (1/9/2012)

Links:

CODA
http://www.codaautomotive.com

Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: No