Similar to how Henry Ford set out to make the automobile accessible for everyone in America; a small start-up company based in Santa Monica, CA intends to make the electric car affordable to all. Coda Automotive has been developing what they call a revolutionary new compact, full-electric car for less money than the competition. The past several years have been a struggle, but as with any start-up company, there are growing pains.
At the beginning of 2011, the company had already raised $76 million dollars and is looking to end with a total of $200 million. Past CEOs of this fledgling carmaker are former Goldman Sachs executives that should have no problem finding the last chunk of capital. This year, Phil Murtaugh became the new CEO and can back up his credentials with former stints at Chrysler and General Motors. “We’re getting our production tooling in order now. It all takes about six weeks to ship them over to the United States, so sometime in the fourth quarter, probably the late fourth quarter, we’ll see cars going on sale in California,” said Murtaugh.
The car itself is less than stunning on the outside, but with fuel efficiency being at the forefront of many Californian’s minds, this car could be the easy answer. It should achieve 90 to 120 miles on a single charge and charge faster than its major competition.
Hit the jump for more details on the Coda Sedan