California-based EV and battery systems manufacturer CODA Automotive has entered into an agreement with a major global automotive manufacturer for the sale of ZEV (Zero Emission Vehicles) credits.

CODA will be entitled to more than 50,000 ZEV credits under its planned 2011 California distribution of more than 14,000 five passenger, four door all-electric sedans.

Under the current ZEV regulations, in the 2009 through 2011 model years, a manufacturer must meet at least 22.5% of its ZEV requirement with ZEVs or ZEV credits generated by such vehicles, and at least another 22.5% with ZEVs, AT PZEVs, or credits generated by such vehicles. The remainder of the manufacturer’s ZEV requirement may be met using PZEVs or credits generated by such vehicles.

Later this year CODA will begin limited deliveries of its first vehicle, the CODA Sedan, with space for five and designed to meet the day-to-day needs of most American consumers. CODA’s 33.8 kWh battery, complete with an active thermal management system, will enable consumers to travel 90-120 miles (145-193 miles) in real world driving on a single charge.

A full recharge takes less than six hours using a 220V charger or just under two hours for a short 40-mile commute.

Deposits for the CODA sedan will be available beginning August 2010 at