CODA Automotive Announces First EV Fleet Sale

CODA Automotive Announces First EV Fleet Sale
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Among EV startups, CODA Automotive seems to be getting off to a good start. It’s 2012 electric sedan is already in series production, and now the company says it has garnered its first fleet order.

Said order is to AEP Ohio, a division of American Electric Power, and although CODA hasn’t given us specific details on the sale, CODA Automotive division CEO Bill Beasley clearly sees potential down the road with the new customer. “Not only does [AEP] provide electricity to millions of Americans, but their large fleet has many potential applications for electric vehicles, which could save their company money on rising fuel costs.  We see this as a long-lasting relationship and look forward to helping AEP’s fleet become a leader in sustainability.”

According to a CODA press release, by adding just one single EV, fleets can save around $2,000 per year on fuel and maintenance costs, especially if they take advantage of charging vehicles during off-peak hours. With many fleets facing rising gas prices and shrinking budgets, CODA believes the market is rife for opportunities in garnering larger fleet orders.

AEP was reportedly impressed enough after sampling a CODA demonstrator last year that it chose to place an order. The Ohio division services approximately 1.5 million customers, both in the Buckeye State and also Virginia’s Northern Panhandle. And with a declared range of 125 miles per single charge, the CODA sedan will likely be better suited to such fleet duties than many other all-electric vehicles.