Coda opens new headquarters in L.A.

The electric car company moved its operations from Santa Monica during a ceremony today that included appearances by Gov. Brown and Mayor Villaraigosa. Looks like there was plenty of glad-handing about L.A. taking the lead in green businesses, but Coda - like all the electric car companies - remains very much a work in progress. The company plans to begin sales in California by the end of the year and expects to sell 10,000 to 14,000 vehicles in its first 12 months (mainly to early adopters, rental car companies, and government agencies). It recently opened a retail store at Westfield Century City shopping center, where potential buyers will be able to examine the four-door $44,900 sedan and arrange for test drives. But analysts are skeptical, in part because of the vehicle's high price. From AP:

The market for electric vehicles is uncertain because the cars currently are pricey and in short supply, said [auto analyst Aaron Bragman]. In addition, CODA and other small producers also lack the name recognition, national distribution systems and car manufacturing experience of larger competitors such as GM, he said. "Are consumers going to spend what comes down to a very large amount of money with a company that is basically unknown?" Bragman asked. "They simply don't have the reach, the deep pockets, the experience or the legacy of the established automakers."

Here's my piece on Coda earlier this year in Los Angeles magazine.