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Electric sedan maker Coda Automotive has attracted some well-connected people with its latest round of funding, including former Treasury Secretary and Goldman Sachs CEO Henry Paulson.

The company, which plans to sell an all-electric sedan in California next year, said on Tuesday that it has completed a series B round of $24 million in equity. The money will be used to bring its car to market and fund a joint venture to manufacture the car battery.

The Coda is a highway-capable sedan with a 100-mile range to be made in China.
(Credit: Coda Automotive)

Joining Paulson as an investor and President Clinton's former chief of staff Thomas "Mack" McLarty. Other investors include investment bank Piper Jaffray, energy investor Tom Steyer, former Edison International CEO John Bryson, and company executives

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You could call electric car company Coda Automotive the anti-Tesla.

The company, formed by fleet vehicle provider Miles Electric, on Wednesday unveiled the Coda, a plain-looking electric car that's designed for everyday use.

The highway-capable four-door sedan can go between 90 and 120 miles on its lithium ion battery pack. It will be available to consumers in California in the fall of 2010 at a price of $45,000. The cost can be offset by about $10,000 from a federal tax credit and state incentives, the company said.

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