Ohio Plant

But shipping batteries across the Pacific for assembly in the United States is expensive, something that Coda hopes to change by building a battery factory in Ohio. Coda is looking at facilities in the Buckeye state and is working with Ohio officials on an incentive package. The automaker is also planning to submit a loan application to the Department of Energy to help fund its endeavor.

Once Coda secures a facility stateside it will rely on Lio Energy Systems, a joint venture between Coda and China’s Lishen Power Battery company, to build the batteries. Lio currently operates a manufacturing plant in Tianjin, China, which has an annual production capacity of 20,000 li-ion battery packs.

Coda Sedan

The planned Coda model is a 2+2 four door sedan that is expected to retail for about $45,000 before a $7500 federal tax credit kicks in. Some states are adding their own incentives, with California offering a $5000 credit for electric vehicles. 2010 may go down as the year where vehicle electrification takes hold as General Motors, Ford, Nissan and Fisker roll out their own models.

According to The Wall Street Journal, privately held Coda Automotive along with Lishen has raised more than $100 million to fund the Tianjin project. The company’s advisory board includes Henry M. Paulson, the former secretary of the U.S. Treasury and current CEO for Goldman Sachs. President Clinton’s Chief of Staff, Thomas McLarty and Sunrise Capital partner Dr. Thomas Cardello are among the notables also on advising Coda.

Source: Coda Automotive

Clarification: This vehicle will be completely assembled in China for a company based in California.

Interesting. Just as America’s Big 3 automobile manufacturers remake themselves, along come three much smaller manufacturers of electric cars who are busy making a name for themselves.

Mostly everyone has heard of Tesla Motors while ardent fans are already familiar with Fisker Automotive and its Karma four-door sports car, but Coda Automotive? That’s a name I first heard about only when I was scanning Autoblog this morning.

Beating The Chevy Volt To The Market?

It turns out that this California based company has a small pure electric sedan in the works and if everything goes as planned it just may beat the Chevy Volt to market. Outfitted with a 333V lithium-ion battery producing what they say will be a range of 90-120 miles, the Coda sedan will retail for about $45,000, but with the federal tax credit of $7500 and California state incentives included, it could retail for about ten thousand dollars less than that.

“The Coda sedan is an all-electric vehicle for everyone,” said Kevin Czinger, President and CEO, Coda Automotive. “It’s a practical revolution for real drivers who need reliable transportation.”

Coda will be sourcing batteries from Tianjin Lishen Battery Joint-Stock Co., Ltd., (Lishen) with plans eventually to establish a US partnership with a US battery maker eventually. Foreign sourced batteries have been a sore point for some especially given the current plight of America’s manufacturing base which has been battered by job loss to China and other countries for years.

No Back Up Gasoline Power To Tap

Unlike the Chevy Volt, the Coda sedan will not have a back up gas engine to extend its range.  Nevertheless, the company says that its battery can be recharged in about two hours to give it forty miles of driving, the same range as the Volt when it runs on pure electric power only.

According to Coda Automotive, factory-standard equipment includes a telematics package, navigation with turn-by-turn directions, a “green screen” that monitors driving efficiency, roadside assistance with an emergency button, a Bluetooth system with an embedded microphone, AM/FM/XM radio with Sirius satellite capability, iPod dock, MP3/USB connectivity, security system, aluminum wheels, and power windows, doors and mirrors. Safety equipment includes anti-lock brakes with electronic stability control and advanced airbags with an occupant detection system. The vehicle is backed by a three-year/36,000 mile warranty.

California Distribution Initially

Headquartered in Santa Monica, Coda Automotive will make its sedan available to California customers initially. The company plans to have customer vehicles maintained through an outsourced network of  “brand name car service partners” and will begin taking orders for the car through its website beginning this fall.

Source: Coda Automotive