After nearly two years of delays, the all-electric Coda sedan has finally gone into production and will reach its first customers in January, 2012. The Coda is based on a Chinese sedan, the Hafei Saibao 3, itself a version of an older Mitsubishi Lancer. The Hafei has been converted to an electric car and extensively beefed up to meet American crash-safety standards.

The most notable feature of the Coda is its 36-kWh lithium-iron phosphate battery under the floor, which the company claims will give the car a range of 150 miles—50 percent more than a Nissan Leaf. Coda says the batteries can be fully recharged in under six hours. In our experience with the Nissan Leaf, a 50-percent improvement in range and a faster charger could make a huge difference in electric cars’ livability. Coda will offer a 10-year/100,000-mile warranty on the batteries, or two years longer than the national legal minimum.

Prices will start at $39,900, plus $895 destination. With federal and California tax incentives the net price reaches $29,900. Coda will produce the first car today. It will reach California dealers by the end of 2011 and follow in other markets.

See the Coda EV and other cars in our 2011 LA Auto Show coverage.