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Coda Automotive, Inc.
Type Private
Founded 2009
Headquarters Santa Monica, California, USA
Key people Kevin Czinger, CEO & President
Miles Rubin, Founder & Co-Chairman
Steven "Mac" Heller, Co-Chairman
Industry Automotive
Products Highway All-Electric Sedan
Website codaautomotive.com

Coda Automotive is a manufacturer and distributor of all-electric, zero-emissions cars and battery transportation systems. Formed under the stewardship of entrepreneur Miles Rubin (known for his marketing and sales of neighborhood electric fleet vehicles under the Miles Electric Vehicles brand) in 2009, Coda engineers, brands, markets and distributes electric vehicles. The company’s manufacturing partnership strategy allows Coda to avoid the traditionally capital-intensive nature of the automobile business. Coda Automotive’s first vehicle, highway commuter sedan, will be delivered to California consumers in mid-2010. Coda Automotive controls design, brand and IP while teaming with established large-scale manufacturers and assemblers to avoid the most capital intensive aspect of the car business. Coda’s worldwide network of partners and suppliers include top tier companies such as Tianjin Lishen Battery Joint-Stock Co., LTD., Hafei Automobile Group, BorgWarner, Automotive System Integrators (ASI), Energy CS, UQM, Continental, OMITEC, Lear, Hella, and Mitsubishi.

On June 3, 2009, Coda Automotive announced that it had established a joint-venture with Lishen, China’s leading producer of rechargeable lithium-ion cells, to manufacture an automotive grade, lithium-ion battery system for the Coda sedan. Coda also has a joint-venture with Yardney Technical Products [1] of Connecticut to manufacture the Coda battery system in the US. Coda plans to deliver ~2,000 all-electric cars to California in 2010 and has the ability to scale up to 20,000 cars in 2011 dependent on market demand. The company plans to expand nationally from California.

Contents

Models

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Coda Sedan

Coda Automotive’s first production vehicle will be an all-electric, 4-door 5-passenger sedan based on the Hafei Saibao[2] with new front and rear fascias. The company anticipates the vehicle’s range to be 90-120 miles (based on US06 cycle on the low end and the UDDS cycle on the high end) depending on individual driving habits and is electronically limited to 80 mph (130 km/h) for peak performance. The cost of charging the vehicle based on electricity kilowatt-hour averages across the US is estimated at $0.03 per mile. The sedan charges at a standard 110 or 220V outlet and is powered by a $13,000[3] 333V, 33.8 kWh lithium iron phosphate battery[4] from Lishen Battery Co.[5]

On June 3, 2009 a prototype Coda sedan was first shown to the media. The prototype was met with mixed reviews with criticism centered around the unfinished interior, which has not been completed. The car is expected to retail at $45,000 when first released and will be eligible for a $7,500 Federal tax credit.[5] The Coda sedan is expected to save drivers over $2,000 in fuel and maintenance costs per year (see chart below)

Gas Car vs Coda Sedan
Gas Car Coda Sedan
Miles Per Year 15,000 15,000
Gas Cost Per Gallon $3.00 NA
Miles per Oil Change 3,000 NA
Cost per oil change $50 NA
Electricity Cost per kWh NA $0.08
Miles per Gallon 20 NA
Miles per kWh NA 2.86
Cost per mile $0.167 $0.028
Cost per year $2,500 $420
5 Year Cost $12,500 $2,100

Coda Sedan Annual Savings $2,080
Coda Sedan 5 Year Savings $10,400

Safety is also of paramount concern. Coda said it has made hundreds of engineering changes to the vehicle to ensure safety and has successfully completed two of the tests necessary to gain FMVSS certification in the Spring of 2009 including the full frontal impact test at 35 mph (56 km/h) and the 40% offset test at 45 mph (72 km/h).

Board of Directors

  • Kevin Czinger - CEO and President of Coda Automotive, former executive at Global Signal, Webvan Group, Bertelsmann AG, and Goldman Sachs
  • Miles L. Rubin - Founder and Co-Chairman of the board of directors, founder of Miles Electric Vehicles, former CEO of Detroit Iron & Steel Industries, Reliance Manufacturing, Puritan Fashions Corp. and Polo Ralph Lauren Jeanswear
  • Steven “Mac” Heller - Steven “Mac” Heller – Co-Chairman of the board of directors, former Goldman Sachs Head of Mergers & Acquisitions, Worldwide and Co-Head of the Investment Banking Division
  • Alan Chesick - Acting Legal Advisor of Coda Automotive, former general counsel of Fortress Investment Group
  • Daniel Weiss - Co-Founder and Managing Partner at Angeleno Group LLC, a leading Los Angeles-based private equity firm focused on high growth investments in the energy sector
  • John Bryson - Former Chairman, CEO and President of Edison International from 1990 through 2008, a director at The Boeing Company, The Walt Disney Company, and the California Institute of Technology

Board of Advisors

See also

References

External links


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