Automaker Coda Automotive announced today it has an all-electric sedan ready to enter the U.S. market by 2010.

The Santa Monica-based automaker will launch the plug-in vehicle in California with a tag price of $45,000 but that drops to mid $30,000 after a Federal tax credit and state incentives, it said.

The Coda sedan is an all‐electric vehicle for everyone, said Kevin Czinger, President and CEO, Coda Automotive in a statement today. It's a practical revolution for real drivers who need reliable transportation.

The car is powered by a lithium-ion battery which can be full charged in about six hours to drive a range from 90 to 120 miles. The car can be plugged into any 110 or 220 volts standard home outlet.

Tesla Motors, another startup automaker based in San Carlos, California sells its sports car model Roadster for $100,000 and its Model S sedan starting from $49,900.