Electric vehicle startup Coda Automotive has cut the price tag on its inaugural electric sedan by $5,000 and boosted the warranty on its battery by two years. The Coda sedan, which is being shown off at the L.A. Auto Show this month and just went into production, now has a base cost of $39,900, down from $44,900 (before any state and federal subsidies).
A Coda spokesperson told me that the lowered price was due to CEO Phil Murtaugh’s negotiating skills in getting the best deals from suppliers and his previous contracts in the industry. Murtaugh, a former GM veteran who launched GM’s Shanghai-based business, joined the company earlier this year.
Coda boosted the battery warranty on its car by 2 years to 10 years, up from 8 years, or 100,000 miles. Nissan has a warranty of 8 years for the battery for its Nissan LEAF. Coda has put a lot of development into its battery and has a joint venture with China battery maker Lishen, called Lio (oil spelled backward).
Last week Coda opened its new headquarters in Los Angeles, and it previously operated out of Santa Monica, Calif. California Governor Jerry Brown attended the event.
Coda pushed back the launch of the sedan from last year to the end of this year, and it announced on Tuesday that it has now moved into production of the car.