BENECIA, Calif. -- The first all-electric Coda sedan rolled off the assembly line in Benicia recently, marking a big day for the privately held company and the city.
Coda, which is based in Los Angeles, manufactures most of the vehicle's battery system and body in China. The parts are then shipped to the port city of Benicia for final assembly.
"Coda started five years ago in an airport hangar in southern California," said Mac Heller, the company's executive chairman. "We shared a conviction that with technology and science, we could create cars that do not spoil the Earth, drain the treasury or hurt the health of our children."
The company, which sees California as its primary initial market, has applied for a federal loan through the U.S. Department of Energy's advanced technology vehicles manufacturing (ATVM) program. But its application has been pending for nearly two years, and Coda went forward without any government funding.
Coda has 300 employees worldwide and about 25 at the plant in Benicia. The company has not said how many cars it plans to manufacture in 2012, but numbers are expected to be low -- around 5,000 units or less.
The four-door car, which looks like a classic sedan, sells for $37,250 but qualifies for a $7,500 federal tax, making it cheaper than a Chevrolet Volt or the forthcoming Model S sedan from Tesla Motors. Coda's battery comes with a 10-year, 100,000-mile warranty and an EPA-certified range of 125 miles per charge.
Three California customers have taken ownership of their Codas already. The company plans to open a Coda "Experience Center," where consumers can come to learn more about electric vehicles, in Palo Alto, Calif., later this spring. -- San Jose Mercury News