CODA Automotive Announces ZEV Credit Sales

CODA Automotive™, a privately held American company that designs, manufactures and sells all-electric vehicles and lithium ion batteries systems for transportation and utility related applications, announced that it had entered into an agreement with a major global automotive manufacturer for the sale of ZEV credits.

CODA will be entitled to over 50,000 ZEV credits under its planned 2011 California distribution of more than 14,000 five passenger, four door all-electric sedans.

Later this year CODA will begin limited deliveries of its first electric car, the CODA Sedan, with space for five and designed to meet the day-to-day needs of most American consumers.

CODA’s innovative 33.8 kWh lithium ion batteries, complete with an active thermal management system, will set it apart from the competition enabling consumers to travel a dependable 90-120 miles in real world driving on a single charge.

With the CODA the garage becomes a filling station, requiring less than six hours for a full charge using a 220V charger or just under two hours for a short 40 mile commute.

Deposits for the CODA sedan will be available beginning August 2010 at

Headquartered in Santa Monica, Calif., CODA Automotive™ is working to reduce dependence on oil and is leading the way to a cleaner future through advanced battery systems for its 100% electric car, other electric vehicle manufacturers and utility applications such as wind power storage.

CODA is working in a smart, interdependent way with more than 30 leading global technology and manufacturing companies across four continents to quickly and efficiently bring electric drive technology to market. Through its exclusive battery system joint venture with Lishen Power Battery, Lio Energy Systems, CODA is also a large-scale producer of power battery systems for transportation and utility applications.

CODA is slated to begin limited deliveries of its all-electric car in the fourth quarter of this year (2010). The CODA™ Sedan is a five-passenger, mid-size car with full rear seating and trunk space that is designed to meet American drivers’ daily transportation needs without using an ounce of gasoline.