California-based CODA Automotive unveiled a new all-electric sedan that it plans to have ready by the fall of 2010. The little-known company had not issued any prior press releases hinting at an unveiling, and there is not much information about them publically available at the moment. Their website only shows that their management team and Board of Advisors include former finance executives from Goldman Sachs and Morgan Stanley, and several engineers from a variety of industries.
Obscure No More
It seems likely that CODA will gain name-recognition quickly. Their plug-in model will arrive earlier than several other major auto manufacturers, and its driving range will have people talking about the benefits of electricity over gasoline once again.
The vehicle’s lithium-ion battery will provide an all-electric range of 90-100 miles, and is supposed to have a charge-time of 6 hours when using a 220V outlet (See here for information on charging times). The batteries will be manufactured by Lishen Battery Co., based in China, and they will come with an 8-year 100,000 mile warranty.
The CODA will sell for a base price of $45,000, which, as every electric manufacturer is keen to emphasize, will be reduced by around $7,500 when factoring in government subsidies. It has a top-speed of 80 mph and a 0-60 acceleration of less than 11 seconds. The GM Volt, by comparison, is priced at $40,000 and provides a range of 40 miles when shutting off its gasoline engine. (More specifications)
While its electric-range is impressive and the 2010 release date provides a head start, the CODA might not offer the price and performance that people are looking for. Plenty, of course, will depend on future gasoline prices, and if they are able to offer a 100-mile range automobile with a price below what has been mentioned here, the economics of the situation might change.