Electric Vehicles

CODA Teams with Essex Credit

November 29, 2010

SANTA MONICA, CA - CODA Automotive, a California-based electric car and battery company, and Essex Credit Corp., a subsidiary of Bank of the West, have reached a preliminary agreement to provide financing for customers of the 2011 CODA Sedan.

"CODA's sales process eliminates the hassle most consumers have come to expect when buying a car," said Mac Heller, CEO of CODA Automotive. "In partnership with Essex, we will provide a simple process for our customers to identify, apply and qualify for competitive financing options in seconds."

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 Web site 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.

"Essex Credit will enable CODA buyers to acquire an innovative vehicle in a truly seamless, efficient customer-centric process," said Jesse Bragg, president and CEO of Essex Credit Corp.

For more information about the CODA Sedan, visit www.codaautomotive.com.

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