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Coda announces "price drop," starts production of all-electric Sedan with larger battery

Coda may not have a new model to show off at the 2011 Los Angeles Auto Show, but the company can still make news with a price drop. Or with something that is a price drop in all but name.

In September 2010, Coda said its all-electric Sedan would cost $44,900. Today, that was refined downward to a more-reasonable $39,900, putting the car somewhat closer to parity with the Ford Focus Electric (which starts at $39,200). The Mitsubishi i ($29,125) and the Nissan Leaf ($35,200) are both cheaper options for smaller all-electric vehicles. Coda's Thomas Hausch told AutoblogGreen that, since Coda hasn't actually sold any of the Sedans for the previously announced price, the new base price isn't a drop. More of a readjustment.

This is just one change that has happened since former GM exec Phil Murtaugh became Coda CEO. Hausch wouldn't give us specific details, but said that Murtaugh instituted "significant cost reductions" all along the development chain to make the car more robust and simple. One minor change that Coda weirdly isn't touting but could be due to the company talking about things a bit prematurely last year, as PluginCars' Brad Berman noticed, is that the Sedan will come with a 36-kWh battery pack instead of the 34-kWh pack that had previously been announced. Estimated range is still 150 miles. The change doesn't negatively affect the pack's stated reliability. Coda today announced an "industry leading" battery warranty that lasts for ten years and 100,000 miles.

One other thing: Coda has started production, and Hausch said the car is "sold out" until March or April of next year. All that means, though, is that enough people have paid the $99 reservation fee to claim a spot in line once the vehicles become available. The first deliveries should take place in January.
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CODA Automotive Announces Start of Production of Zero Emission All-Electric Flagship Sedan

Offers Best in Class Electric Vehicle Battery Warranty and Most Affordable Range with its 2012 Zero Emission Sedan

LOS ANGELES, Nov. 16, 2011 /PRNewswire/ -- CODA Holdings, a leading developer of all-electric vehicles and advanced battery systems, today announced that it started production of its zero emission flagship vehicle. Representing the company's commitment to deliver accessible, safe and reliable electric vehicles and clean technology to its customers, CODA will offer an industry leading 10-year, 100,000-mile battery warranty and starting US base price of $39,900 for their zero emission 2012 model year CODA sedan.

"We are excited to announce that we have started production of our all-electric CODA sedan," said Phil Murtaugh, CEO of CODA Holdings. "We dedicated this year to increasing efficiencies in order to bring down costs and as we go to market, we are committed to passing these savings to our customers. These progressions align with our mission of putting an electric vehicle into every garage and adding further confidence that CODA will provide dependable electric vehicles for generations to come."

The 2012 CODA sedan now combines an industry leading EV battery warranty with the best range per dollar of any electric vehicle on the market. To achieve this best value per dollar range, the CODA team leveraged its long-standing relationships within the industry and extensive production experience to create more efficient production processes. The 2012 model year CODA is now available for $29,900(i) in California, after federal tax savings up to $7,500(ii) and CA vehicle rebate of $2,500.

Through robust technology, durable battery chemistry and Active Thermal Management system, the CODA executive management team has also set the battery warranty to 10-years, 100,000-miles.

The CODA is the first all-electric five-passenger, mid-size sedan with full rear seating and trunk space that meets American drivers' daily transportation needs without an ounce of gasoline:

Delivers the longest range of any all-electric vehicle: A class-leading battery pack enables a fully charged CODA to go up to 150 miles(iii), almost five times the average daily commute.
Fast and Easy Recharging: Twice as fast as the leading competitor, a 6.6kW onboard charger provides 4 hours for 100 mile charge, 2 hours for 50 miles (6 hours for full charge).
Accelerates up to 85 mph with ease: the CODA features 134 horsepower and 221 lb-ft of torque, a regenerative braking system, and an air-cooled active thermal management system.

The first CODA Sedans are on display at the Los Angeles Auto Show from Nov. 18 through Nov. 27. More information and reservations for the CODA are available at www.codaautomotive.com.

About CODA Holdings

Headquartered in Los Angeles, CODA Holdings is a leading developer of advanced Lithium-ion power battery systems comprised of three key divisions: CODA Automotive, CODA EV Propulsion Systems and CODA Energy. Together with its JV partners, CODA is working to reduce dependence on oil and leading the way to a cleaner future through its electric vehicles and stationary energy storage products. The first consumer product available will be a zero emission four-door, five-passenger EV sedan with a full-size trunk that is designed to meet American drivers' daily transportation needs. For more information on the CODA sedan, visit www.codaautomotive.com.

(i) After state and federal tax savings, net as low as $29,900. MSRP $39,900, with federal tax savings from 0-$7,500. CA State rebate of $2500 – some states have higher rebates. Excludes tax, title and license. Initially available through online reservation process. Subject to change.

(ii) To help determine rebate eligibility, please visit http://www.irs.gov/newsroom/article/0,,id=206871,00.html/.

(iii) Actual range and vehicle performance will vary depending on personal driving and charging style, speed, conditions, weather and cargo load.

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