iConnectHub
Access
Login/Register
Supplier Login
BENICIA -- The first all-electric Coda sedan rolled off the assembly line here Monday, 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, thanks to a joint venture with Chinese battery maker Lishen. The parts are then shipped to the port city of Benicia for final assembly and safety and quality inspection at the Amports facility here.
Benicia Mayor Elizabeth Patterson, Solano County officials, plant workers and Coda executives applauded as the first sedan slowly rolled out of the plant and before a bank of cameras at a press event Monday.
"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 Department of Energy's Advanced Technology Vehicles Manufacturing, or ATVM, program. But its application has been pending for nearly two years, and Coda went forward without any financing from the government.
Coda has 300 employees worldwide and about 25 at the plant in Benicia, a figure that is expected to grow as manufacturing ramps up.
The company has not said how many cars it plans to manufacture in 2012 but the number is expected to be low -- 5,000 units or less.
The four-door sedan sells for $37,250 but qualifies for a $7,500 federal tax credit and $2,500 state rebate, making it significantly cheaper than a Chevy Volt or the forthcoming Model S sedan from Tesla Motors (TSLA). Coda's battery comes with a 10-year, 100,000-mile warranty and an EPA-certified range of 88 miles per charge. Coda says the car can travel up to 125 miles per charge in optimal driving conditions.
Coda Silicon Valley will open on Stevens Creek Boulevard in San Jose on Friday, the same day three California residents, including one from Redwood City, are expected to take ownership of their Codas.