In addition to the other announcements, Coda celebrated the opening of its new world headquarters in Los Angeles earlier this month.

Coda claims that its batteries have a range of 150 miles, and that it charges faster than the Nissan Leaf or Chevy Volt. The company also offers a 10-year, 100,000-mile warranty on its batteries. The announcement of the price cut therefore comes as welcome news, pricing it just below the 2012 Ford Focus Electric. “We dedicated this year to increasing efficiencies in order to bring down costs and as we go to market, we are committed to passing these savings on to our customers,” Coda Automotive CEO Phil Murtaugh said in a release.

We took a look at the Codas on display at the LA Auto Show this week, and while they leave something to be desired from a design standpoint, the technology is impressive. Initially, Coda sedans will only be available in California, where buyers will be eligible for a state rebate of $2,500 and federal tax savings of up to $7,500, which would bring the price down to $29,900.

+ Coda Automotive