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CODA reaches preliminary agreement with Essex Credit Corporation to finance CODA EVs

CODA Automotive and Essex Credit Corporation, a subsidiary of Bank of the West, have reached a preliminary agreement to provide financing for customers of the 2011 CODA Sedan.

Customers who purchase an all-electric vehicle from CODA will have the option of applying for credit from their financial institution of choice or directly on the CODA website via an Essex portal. At CODA’s retail locations, customers will be able to apply for credit at kiosks on their own or with the help of a CODA associate. These locations will focus on consumer education and test drives, while vehicles will be delivered directly to consumers.

The CODA Sedan is a 4-door, 5-Passenger, all-electric sedan with 20 cubic feet of trunk space. Its 33.8 kWh Lithium iron phosphate (LiFePO4) battery system supports a range of up to 120 miles on the US06 cycle. The MSRP is US$44,900, before any state or federal incentives.

Through its exclusive battery system joint venture with Lishen Power Battery, LIO Energy Systems, CODA is also a producer of power battery systems for transportation and utility applications.



WHAT??? $45k for an EV??? It only gets 100 miles before you have to find a charge station??? For a car made entirely in low cost China - this thing is expensive!

How about a vehicle us little people can afford??

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