CODA Automotive Dealers Sell First All-Electric Vehicles

LOS ANGELES, March 16, 2012 /PRNewswire/ -- California drivers bid farewell to the gas pump and enthusiastically picked up the keys to their all-electric CODAs from their local CODA dealers today. CODA Automotive executives and dealer representatives celebrated the first three sales of the all-electric 2012 CODA five passenger sedans across the state.

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"Watching our dealers deliver the first vehicles to customers is an incredibly fulfilling milestone," said Phil Murtaugh, CODA Holdings CEO.  "All three customers share our conviction that advances in technology can help solve the energy challenges that have weighed down our economy and our environment for decades, and we're thrilled to have them help bring us one step closer to fulfilling our founding vision."

CODA's Los Angeles customers were joined by Mr. Murtaugh and owner of the CODA Los Angeles dealership, Dana Martin, at the CODA Los Angeles Experience Center. Carmen of Los Angeles, an eco-conscious advertising executive, and Daniel Weiss; CODA Holdings founding investor and board member, and Angeleno Group co-founder and managing partner; are now proud owners of a black and white CODA, respectively.

"We're thrilled to deliver the first CODA sales here in CODA's backyard," said Martin. "We feel that Los Angeles is filled with committed drivers like Carmen and Daniel, who want an all-electric sedan that has reliable range, comfortable configuration, access to the carpool lane and leaves home fully charged each morning."

The first CODA owner in Northern California is Randy of Redwood City, a pilot with a passion for technology. CODA Executive Chairman Mac Heller and President of Del Grande Dealer Group (DGDG) Shaun Del Grande delivered a silver CODA to the new EV owner.

"We're delighted to offer the all-electric CODA to Randy and many more Northern California drivers in the near future," said Del Grande. "As the first dealership in the area to offer the CODA, we're excited to provide Northern California drivers with what they want: a reliable range, zero emission sedan and ultimately, the option to be independent from fossil fuels."

All early reservation holders were selected based on the vehicle specifications they requested and will automatically receive a numbered plaque located on the center console and custom key chain. Commemorating the start of the CODA movement, the first 500 retail vehicles come with the limited edition features to signify that the EVs are among the first CODAs to hit the road.

The new 2012 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:

• Best-in-class(i) EPA range rating: The 31kWh 2012 CODA mileage vehicle features 88 miles per charge.   Depending on driving habits, it can be driven up to 125 miles(ii) on a single charge, nearly four times the average daily commute(iii).
• Best-in-class range per dollar: The 31kWh 2012 CODA has an MSRP of $37,250, and can go up to 125 miles on a single charge. In California, federal and individual state tax saving and credits may bring the price down to $27,250(iv).
• Fast and easy recharging: An unbeatable 6.6kW onboard charging capability provides a full charge in about six hours on 240 V (Level 2 EVSE).
• Dependable range: The active thermal management system provides constant battery care by keeping the battery pack at its optimum temperature in hot and cold weather conditions.
• The best EV battery warranty: The electric vehicle sedan is powered by an efficient Lithium-iron Phosphate (LiFePO4) battery pack with an industry leading 10-year, 100,000-mile limited battery warranty.

More information and reservations for the CODA are available at www.codaautomotive.com.  Test drives of the 2012 CODA are available at the following CODA locations: CODA Los Angeles, CODA Silicon Valley, the CODA Experience Center at the Century City Westfield Mall, Fladeboe CODA at Irvine Auto Center, and the Marvin K. Brown CODA San Diego. 

About CODA Automotive

Headquartered in Los Angeles, CODA Automotive is a privately held company that designs, manufactures and sells all-electric vehicles. The first CODA EV is a zero emission four-door, five-passenger sedan with a full-size trunk that is designed to meet American drivers' daily transportation needs. Its parent company, CODA Holdings, and its other business lines – CODA EV Propulsion Systems and CODA Energy – develop clean technology products to reduce global dependence on fossil fuels and the social, economic and environmental destruction that follows. For more information, visit www.codaautomotive.com.

(i) Best EPA range in any non luxury compact battery electric vehicle (BEV) class.

(ii) The 31kWh MY2012 CODA has an EPA rated range of 88 miles per charge and can easily achieve 125 miles in the federally mandated laboratory test that simulates city driving (commonly called the LA4 city cycle or Urban Dynamometer Driving Schedule). Actual range and vehicle performance will vary depending on personal driving style, speed, traffic, temperature, weather conditions, and cargo load.

(iii) The average driver drives 29 miles a day, according to the Bureau of Transportation Statistics website.

(iv) After state and federal tax savings, net as low as $27,250 in California. MSRP $37,250, with federal tax savings from 0-$7,500. CA State rebate of $2,500 (while available) – some states have higher rebatesof up to $7,500. Excludes tax, title and license. Initially available through online reservation process. Subject to change. To help determine rebate eligibility, please visit http://www.irs.gov/newsroom/article/0,,id=206871,00.html/

SOURCE CODA Automotive