2014

CODA Automotive & Enterprise Rent-A-Car Help Accelerate the Adoption of All-Electric Cars With 100% Electric CODA Sedans

SANTA MONICA, Calif., Oct. 11 /PRNewswire/ -- CODA Automotive™, a California-based electric car and battery company, and Enterprise Rent-A-Car, today announced a planned program to introduce up to 100 all-electric CODA Sedans™ to car rental locations throughout 2011.

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"The CODA's dependable, all-season range are a perfect match for the driving conditions found throughout Enterprise's neighborhood network of car rental locations," said Kevin Czinger, President and CEO, CODA Automotive. "Enterprise has demonstrated a strong commitment to sustainability and is aligned with our mission to accelerate the adoption of electric vehicles."

The CODA Sedan™ will be the first mainstream all-electric sedan from an all-electric car company when it becomes available in the coming months.  The car is designed to meet the day-to-day needs of more than 80% of Americans(i) with space for five passengers and a full-size trunk. CODA's innovative 33.8 kWh battery system with active thermal management will be the largest, most advanced system in its class, enabling a dependable, all- season 90 to 120 miles of range per charge.(ii) Fast and convenient charging will be achieved with help from a 6.6 kW on-board charger that is twice as fast as the standard charger used by our closest competition. A full charge requires about six hours to complete,(iii) and enough energy for a short, 40-mile commute will take under two hours.

"With the mystery surrounding electric vehicles, we think this vehicle will not only meet the needs of many of our customers, but will also help to 'lift the veil' on EVs for many of them and help them better understand the technology and why they might want to own one," said Lee Broughton, director of sustainability for Enterprise Holdings, which owns and operates Enterprise Rent-A-Car, along with the Alamo Rent A Car and National Car Rental brands. "Supporting alternative transportation options and partnering with companies at the forefront of the electrification movement like CODA Automotive is a key component of our long-term sustainability strategy."

Enterprise has more than 5,000 offices located within 15 miles of 90 percent of the U.S. population.  So with the potential to rent each electric vehicle hundreds of times a year, Enterprise will be able to give customers an opportunity for an "extended" test drive, allowing them to experience the energy-saving technology right where they live and work.

The addition of the CODA electric vehicle is just one facet of the Enterprise's industry-leading environmental sustainability platform, that includes investment in alternative fuels, a fuel-efficient fleet, and an operational commitment to reduce energy use and energy cost by 20 percent over the next five years.

In addition to the partnership announced today, the two companies previously reached an agreement to provide services for CODA electric vehicle owners.  As part of that agreement, Enterprise will provide courtesy transportation vehicles to CODA customers during service and maintenance periods.  In addition to providing courtesy transportation support, CODA and Enterprise are discussing other innovative partnership opportunities to help accelerate the adoption of all-electric cars.

About CODA Automotive: Headquartered in Santa Monica, Calif., CODA Automotive™ 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™, 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™ 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.

For more information, please visit www.codaautomotive.com, follow @CODAautomotive on Twitter at www.twitter.com/CODAautomotive, or visit our Facebook page at www.facebook.com/coda.

About Enterprise Rent-A-Car:  Founded in 1957, Enterprise Rent-A-Car is an internationally recognized brand with more than 6,000 neighborhood and airport locations in the United States, Canada, the U.K., Ireland, and Germany. Known for exceptionally low rates and outstanding customer service, Enterprise was named to BusinessWeek's annual list of "Customer Service Champs" in 2007, 2008, 2009 and 2010. Enterprise also has ranked highest in customer satisfaction among North American airport rentals in 10 of the past 11 years, according to J.D. Power and Associates Rental Car Satisfaction Study. Enterprise of North America also is part of a global strategic alliance with Europcar, creating the world's largest car rental network.

Enterprise Holdings, headquartered in St. Louis, owns and operates Enterprise Rent-A-Car and WeCar car-sharing through its regional subsidiaries. There are more than 5,000 Enterprise offices located within 15 miles of 90 percent of the U.S. population, and local customers are picked up at no extra cost. Enterprise launched car-sharing in 2007 as a natural extension of its business rental program and longtime focus on customized local service. With WeCar car-sharing technology, Enterprise offers a totally automated, membership-based and environmentally friendly transportation solution to local businesses, universities and government offices looking to enhance their fleet management operations and sustainability initiatives. To further minimize the environmental impact of car rentals, Enterprise not only offers customers the opportunity to offset carbon dioxide (CO2) emissions, but also to rent a hybrid vehicle in more than 30 major markets. For more information about Enterprise, visit www.enterprise.com.

(i) Source: "Transportation Energy Data Book: Edition 28-2009"

(ii) Up to 120 miles based on US06 (aggressive driving/high speed test) and LA4/UDDS (city driving) EPA tests. Like any electric vehicle, CODA's electric miles per charge will vary. Like all vehicles, electric vehicles are less efficient in extreme temperatures. In addition, personal driving style, heavy cargo loads and battery age will also affect vehicle performance.

(iii) The time necessary for a full charge can vary between five to seven hours, but takes an average of six hours.

SOURCE CODA Automotive




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