Thursday, 22 July 2010 7:29 P.M.
Automotive Launches Direct-to-Consumer Sales of Its All-Electric,
Zero Tailpipe Emissions Sedan
Now Accepted At Newly Redesigned Website; Initial Pricing Details
and Framework of Unique Consumer Acquisition Experience, Service
Infrastructure and Retail Model Announced
credit: PRNewsFoto/Coda Automotive
100% Electric CODA Sedan
credit: PRNewsFoto/CODA Automotive
MONICA, Calif. -- CODA Automotive, a California-based,
American-engineered electric car and battery company, today announced
that it is accepting deposits for its 100% electric, four-door,
five-passenger sedan designed to meet the majority of American drivers'
daily transportation needs without using an ounce of gasoline. Drivers
looking to jumpstart the electrification movement can now reserve
a CODA(TM) with a fully-refundable $499 deposit at www.codaautomotive.com.
Details of CODA's Effortless Care customer ownership experience
were also announced.
The all-electric CODA Sedan(TM) is capable of up to 120 miles of
dependable, all-season range(i), and has a price as low as $37,400(ii),
after federal tax savings up to $7,500(iii). The car will qualify
for additional California state incentives, including up to a $5,000
tax rebate as available through the state's Clean Vehicle Rebate
Project, and HOV access through 2015. CODA also currently plans
to begin selling vehicles in Hawaii in the third quarter of 2011,
where the car will be eligible for a $4,500 tax rebate offered in
the state. CODA is finalizing the details of a program that is expected
to offer consumers competitive leasing and financing options. CODA
expect that fleet sales may comprise approximately 40% of total
sales. Specific details will be announced later this year.
are excited to begin offering our friends and neighbors a vehicle
that meets their day-to-day driving needs, reduces their ownership
costs and satisfies their desire to be better stewards of the environment,"
said Kevin Czinger, President and CEO, CODA Automotive. "From
putting clean, emissions-free miles on our highways, to supporting
thousands of new jobs nationwide, our current partners and future
customers are uniquely positioned to be a signature catalyst in
the electrification movement."
CODA Advantage: Best-in-Class Performance at a Competitive, Attainable
Price Delivered Through a Transparent, Direct-To-Consumer Acquisition
CODA's innovative approach is its customer-centric sales, acquisition
and service model designed to make the ownership experience effortless
for consumers. The company plans to transform the traditional automotive
industry approach through its unique retail and educations centers.
Initial flagship locations are planned in Santa Monica and the San
Francisco Bay Area, with additional satellite stores located in
high-traffic shopping centers throughout the state. The locations
will focus on consumer education and test drives while a direct-to-consumer
delivery model will eliminate the additional costs associated with
a more standard dealer model.
A CODA "valet"
service will be available to all CODA owners providing an effortless
ownership experience by acting as the primary point-of-contact for
questions or service needs for every original CODA electric car
owner. In the event service is required, a CODA Valet(TM) will interact
directly with a world-class network of authorized service providers
and CODA-trained technicians so CODA owners don't have to. CODA
is establishing six geographically targeted, CODA-operated service
centers to perform necessary warranty and battery system repairs
while scheduled maintenance may be performed at more than 20 select
Firestone Complete Auto Care(TM) locations in California.
piece-of-mind, every CODA will come standard with 24/7 CODA Roadside
Assistance(iv) and a call-center concierge service facilitated by
a team of trained experts equipped to perform remote diagnostic
evaluations, schedule service appointments and mobilize emergency
services in the event of an accident. In addition, CODA owners will
receive a courtesy loan vehicle provided by Enterprise Rent-A-Car
during warranty repairs or scheduled maintenance appointments.
Sedan: 40% More Energy than Comparable EVs in its Class, Room for
5, and Dependable All-Season Range
by an innovative 33.8 kWh, 333V Lithium-ion (iron phosphate) electric
car battery system, the CODA Sedan will achieve a minimum range
of 90-120 miles per charge dependably, in real world driving and
in any season(i). The CODA features an advanced Active Thermal Management
system that keeps the battery system at an ideal operating temperature
at all times - even when the vehicle is parked. This technology
is essential to the cycle life, durability, capacity and reliability
of automotive grade battery systems. The electric vehicle will be
backed by a three-year/36,000 mile limited warranty and a limited
battery warranty of eight-years/100,000 miles.
features a 6.6 kW onboard charger, the largest in its class, helping
to facilitate a complete charge in about six hours(v) from a 220V
charger. Charging for a 40-mile commute can take as little as 2
hours. Based on average nighttime (off-peak) electricity rates in
the U.S., the anticipated cost to fully charge the CODA Sedan is
under $3(vi). CODA will provide its customers with a home inspection
and the equipment needed to ensure the appropriate in-home charging
infrastructure is available and installed prior to delivery.
Sedan(TM) will come equipped with standard active and passive safety
systems, including six advanced airbags with an occupant detection
system, Anti-lock Braking System (ABS) and Electronic Stability
CODA is designed to meet the day-to-day driving needs of the majority
of American commuters and families ready to leave the gas station
in the rear-view mirror," said Mike Jackson, SVP Global Sales,
Marketing and Distribution, CODA Automotive. "With a new technology
introduction in the automotive category, dependability, quality
and safety are key, and these attributes have been our focus since
standard features of the CODA Sedan(TM) include:
Satellite-Ready AM/FM/XM radio -- MP3, iPod, iPhone and USB
connectivity -- 8-inch color touch-screen -- Turn-by-turn
navigation with available real-time weather and traffic updates
-- GreenScreen system that monitors driving efficiency --
One-touch roadside assistance and accident notification system
-- Bluetooth hands-free phone system -- Power windows, door-locks
and mirrors -- 17-inch forged aluminum-alloy wheels -- More
than 14 cubic feet of trunk space -- Interior upholstery featuring
environmentally friendly materials
complete listing of features and technical specifications
is available at www.codaautomotive.com
New Home For the CODA Movement: Redesigned Website Triggers Start
of Full Marketing and Promotional Efforts Focused on Education,
Advocacy, Test Drives and Sales
to facilitating secure consumer deposits for the all-electric CODA
Sedan(TM), the newly redesigned website features fresh car images,
detailed technical specifications, bright Infographics and several
interactive calculators. You can now see if CODA is right for you,
understand your real driving range needs and the cost savings impact
of driving a CODA instead of a gas-powered car. The site is also
a one-stop place for breaking CODA news, blog posts, videos and
be conducting "Ride and Drive" Events throughout California
expected to start in October, allowing consumers to experience the
CODA firsthand. The CODA Twitter and Facebook pages will be announcing
upcoming events and opportunities to see the electric cars. CODA
will be on display at the Los Angeles Auto show from November 17
is the latest in a string of recent milestones for CODA. Last spring
it closed its Series C investment round to bring its total invested
capital to more than $125 million, with strong international participation
from leading investors in North America, Europe and Asia. In May,
CODA unveiled plans to open a lithium-ion battery system manufacturing
facility in Ohio, pending approval of an application for a Department
of Energy Advanced Technology Vehicles Manufacturing (ATVM) loan.
Limited consumer deliveries are slated for the end of 2010 with
a production target of 14,000 vehicles by the end of 2011.
CODAAutomotive: Headquartered in Santa Monica, Calif.,
CODA Automotive(TM) is working to reduce dependence on oil and is
leading the way to a cleaner future through advanced battery systems
for its 100% electric car, other electric vehicle manufacturers
and utility applications such as wind power storage. CODA is working
in a smart, interdependent way with more than 30 leading global
technology and manufacturing companies across four continents to
quickly and efficiently bring electric drive technology to market.
Through its exclusive battery system joint venture with Lishen Power
Battery, LIO Energy Systems(TM), CODA is also a large-scale producer
of power battery systems for transportation and utility applications.
CODA is slated to begin limited deliveries of its all-electric car
in the fourth quarter of this year (2010). The CODA Sedan(TM) is
a five-passenger, mid-size car with full rear seating and trunk
space that is designed to meet American drivers' daily transportation
needs without using an ounce of gasoline.
information, please visit
www.codaautomotive.com, follow @CODAautomotive on Twitter at
or visit our Facebook page at www.facebook.com/coda.