CODA Automotive Drives its First All-Electric 2012 CODA off the Production Line

BENICIA, CA - March 12, 2012: Amid cheering employees, the first fully assembled CODA - a silver all-electric sedan with a 31 kWh battery pack - to be sold to consumers drove off the final assembly line. The momentous occasion officially kicked-off the final assembly of CODA Automotive's first all-electric 2012 CODA five passenger sedans that will be sold in California - ultimately to current reservation holders.

Benica, California Mayor Elizabeth Patterson takes a test drive in one of the first vehicles off the assembly line.

"This is an incredibly exciting day for the CODA family and the EV community," said Mac Heller, executive chairman, CODA Holdings. "Since day one, we've been dedicated to designing an electric car that provides the amenities that the American driver has come to expect, such as range, torque, and value. This car symbolizes our commitment to accelerating the adoption of EVs."

The all-electric car company continues to support the growth of green jobs in Northern California as it conducts the final assembly €“ including the installation of the vehicle's central powertrain unit and other electrical components, and a robust vehicle safety and quality inspection – at a facility located approximately 30 miles from San Francisco. With the initial assembly of the glider chassis and Lithium-ion battery pack conducted in China, all research and design, marketing and sales are conducted at the company's global headquarters in Los Angeles.

The CODA will be soon available for purchase at dealerships throughout California: CODA of Silicon Valley, run by Del Grande Dealer Group (DGDG in Northern California; Marvin K. Brown Auto Center in San Diego; and various locations in the Los Angeles region that will be announced soon.  As production increases, additional dealerships in the state and beyond will be announced.

The new 2012 CODA is the first all-electric five-passenger, mid-size sedan with full rear seating and trunk space meets American drivers' daily transportation needs without an ounce of gasoline:

• Best in-class(i) driving range: The 31kWh 2012 CODA mileage vehicle features 88 miles per charge EPA rating. Depending on driving habits, it can be driven up to 125 miles(ii) on a single charge, nearly four times the average daily commute(iii) . 
• Best in-class(i)  range per dollar: The 31kWh 2012 CODA has an MSRP of $37,250 and can go up to 125 miles on a single charge(ii).  In California, federal and individual state savings and credits may bring the price down to $27,250(iv).
• Fast and easy recharging: An unbeatable 6.6kW onboard charging capability provides a full charge in about six hours on 240 V (Level 2 EVSE).  
• Dependable range: The active thermal management system provides constant battery care to help optimize the battery pack's performance in hot and cold weather conditions (v).
• Superior EV battery technology: The EV is powered by a safe and efficient lithium-iron-phosphate (LiFePO4) battery pack with an industry leading 10-year, 100,000-mile limited battery warranty.

More information is available at www.codaautomotive.com.

About CODA Automotive

Headquartered in Los Angeles, CODA Automotive is a privately held company that designs, manufactures and sells all-electric vehicles. The first CODA EV is a zero emission four-door, five-passenger sedan with a full-size trunk that is designed to meet American drivers' daily transportation needs. Its parent company, CODA Holdings, and its other business lines €“ CODA EV Propulsion Systems and CODA Energy €“ develop clean technology products to reduce global dependence on fossil fuels and the social, economic and environmental destruction that follows. For more information, visit www.codaautomotive.com.

(i) Best range per dollar and EPA range in any non luxury compact battery electric vehicle (BEV) class.

(ii) Actual range and vehicle performance will vary depending on personal driving style, speed, weather and cargo load. Society of Automotive Engineers (SAE) Urban Dynamometer Driving Schedule (UDDS) test of the 31kWh battery yielded 133.6 miles per charge for city driving conditions

(iii) The average driver drives 29 miles a day, according to the Bureau of Transportation Statistics website.

(iv) After state and federal tax savings, net as low as $27,250 in California. MSRP $37,250, with federal tax savings from 0-$7,500. . CA State rebate of $2,500 (while available) - ; some states have higher rebates of up to $7,500.  Excludes tax, title and license. Initially available through online reservation process. Subject to change. To help determine rebate eligibility, please visit http://www.irs.gov/newsroom/article/0,,id=206871,00.html/.

(v) When plugged in or driving, the CODA sedan's active thermal management system will heat or cool the battery to maintain battery integrity and consistent driving range in extreme temperatures.