CODA Automotive Signs EV Charger Agreement with GE Energy

LOS ANGELES, Nov. 17, 2011 /PRNewswire/ -- CODA Automotive, a leading EV manufacturer and GE Energy Industrial Solutions have finalized an automotive original equipment manufacturer (OEM) agreement for the sale and distribution of the GE WattStation™ Wall Mount electric vehicle (EV) charging station.

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The new collaboration creates a "one-stop shopping" experience for consumers by creating the opportunity to have the GE WattStation EV charging station and the CODA electric vehicle at the same retail outlets.  GE and CODA look forward to working together on additional opportunities such as retail outlet displays, marketing event co-promotions, and consumer activities to demonstrate the ease of use and functionality of GE Energy's entire EV charging product line.

"We are excited to be the first car company in the United States to be working with GE Energy to support consumers as they enter the EV world," said Phil Murtaugh, CEO of CODA Holdings "As one of America's most established, recognized, and respected brands, we're thrilled to be able to support CODA customers with a reliable one-stop GE solution as they move into the EV market."

"This milestone is another step in GE's journey to lead the future of global electrification," said Luis Ramirez, CEO of GE Energy Industrial Solutions.  "As demand for the GE WattStation continues to exceed our expectations, bringing our products closer to the customer will help accelerate the adoption of electric vehicles."

The GE WattStation Wall Mount, a fast, easy-to-use Level 2 EV charger, significantly decreases the time required to fully charge an electric vehicle compared with a Level 1 charger.  The CODA delivers the longest range of any all-electric vehicle in its class.  

The zero-emissions CODA sedan features an industry-leading 10-year, 100,000-mile battery warranty, class-leading range and a new US base price of $39,900.  This relationship helps support the company's mission of putting an electric vehicle in every garage.

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 36kWh battery pack enables a fully charged CODA to go up to 150 miles, 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 and GE WattStation™ Wall Mount are on display at the Los Angeles Auto Show from Nov. 18 through Nov. 27.

About GE:

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

GE also serves the energy sector by providing technology and service solutions that are based on a commitment to quality and innovation. The company continues to invest in new technology solutions and grow through strategic acquisitions to strengthen its local presence and better serve customers around the world. The businesses that comprise GE Energy—GE Power & Water, GE Energy Management and GE Oil & Gas—work together with more than 100,000 global employees and 2010 revenues of $38 billion, to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; as well as other alternative fuels and new grid modernization technologies to meet 21st century energy needs.

For more information, visit our Twitter pages at @GE_WattStation and @GE_IndSolutions and Facebook page at GE Energy Industrial Solutions.

About CODA:

Headquartered in Los Angeles, CODA Holdings is a leading developer of advanced Lithium-ion power battery systems comprised of three key business lines: 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.

For more information, visit our Twitter page at @codaautomotive and Facebook page CODA Automotive

SOURCE CODA Automotive