Coda Automotive is offering a $552 rebate to buyers in California during the month of October. The automaker says the rebate is equal to the cost of electricity it would take to propel the Coda sedan 10,000 miles in the Sunshine State, based on current electricity costs and the EV’s 88-mile range.
The rebate is also being used to draw attention to the lower cost of electrical energy compared to gasoline and diesel. Using figures from the EPA and AAA, the automaker suggests that a gas- or diesel-powered vehicle averaging 22 mpg costs about $1700 to travel 10,000 miles at the national average fuel cost, while drivers in California will pay more than $2000 to drive the same distance.
Coda also says that EVs help protect owners from fluctuating fuel prices that have increased 106 percent on average since 1992, while electrical rates have declined on average 12 percent in the same time period.
The Coda sedan EV has a base price of $37,250 though federal and state incentives could amount to as much as $10,000 in savings, bringing the price to $27,250 before the manufacturer’s rebate.
Would 10,000 miles’ worth of electricity be enough to get you behind the wheel of a Coda? Tell us in the comments section below.
By Jason Udy