Monday, November 22, 2010

Hertz and CODA Automotive Make All-Electric Transportation a Reality for Consumers

 CODA Automotive, a California-based electric car and battery company, and The Hertz Corporation , the world's largest general use airport car rental brand, entered into a partnership making 100% all-electric CODA„¢ Sedans available at select Southern California Hertz® locations.

"The 100 percent electric CODA was designed to meet the needs of most Americans with dependable, all-season range, and fast, convenient charging," said Mark Jamieson, CFO & COO, CODA Automotive. "With one of the world's largest rental car fleets, Hertz is uniquely positioned to catalyze the adoption of all-electric vehicles and infrastructure supporting electric mobility."

"Hertz is committed to the widespread use of electric vehicles globally and we are laying the foundation to make electric vehicle mobility a reality today," commented Mark P. Frissora, Chairman and Chief Executive Officer, The Hertz Corporation. "The CODA Sedan represents an outstanding zero emissions solution, one that will appeal to the needs of our consumers from urban dwellers, travelers and corporations. Companies like CODA Automotive align with our vision to provide tomorrow's driving solutions to consumers today."

Hertz operates the world's largest fleet of general use airport rental cars with access to many different groups of consumers at over 8,300 locations. This access gives Hertz a unique opportunity to introduce the all-electric CODA to a broad group of potential consumers.

The partnership with CODA represents Hertz's commitment to developing a sustainable eco-system for alternative forms of transportation. Hertz is working to leverage the company's rental and car sharing locations as bases for electric vehicles and charging stations in the United States and abroad. Hertz plans to roll out its EV rental program with full-scale deployment in the United States and abroad beginning in 2011.

In addition to reducing carbon and Green House Gas (GHG) emissions sharply, electric vehicles like CODA are cost-effective ways for commercial fleets to reduce and stabilize fixed energy costs. After each CODA Sedan has been driven 100,000 miles or more, consumers will experience an average CO2 savings of 21.8 tons relative to a 25 MPG internal combustion engine vehicle(i). Based on an average of $.11 per kWh of electricity nationwide, the CODA costs approximately $3.50 to charge from depletion €" enough for up to a 120 mile drive.

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