Coda Automotive auto news

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Coda officially files for bankruptcy, shifts focus to energy storage

05/01/2013   [Original: Autoblog]
Category: EV/Plug-in, Coda Automotive

coda electric sedan

Anyone who had Coda Automotive in your office pool for the next electric vehicle maker to declare bankruptcy, go on and collect your winnings. Coda announced today it will restructure as an energy storage business after voluntarily filing Chapter 11 bankruptcy in the District of Delaware. The automaker said it expects the sale process to last 45 days.

The writing has been on the wall for a long while now, with store closings and layoffs following low sales of the startup's all-electric Sedan. The official restructuring also makes a sort of sense, since Coda's plan for at least the last 15 months has been to offer an energy storage business called Coda Energy. In today's press release announcing the bankruptcy, Coda says:

Coda Energy's products are based on the same core technology, which includes its proprietary battery management and thermal management systems, found in CODA's vehicles adapted for stationary energy storage applications. The Company designs and builds scalable, custom energy storage solutions optimized for generation, distribution and behind-the-meter applications for commercial, residential and industrial end users. The Company is currently shipping product, and has a robust pipeline of new customers and existing installations in the field.

So, Coda is dead. Long live the Coda?

Continue reading Coda officially files for bankruptcy, shifts focus to energy storage

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Coda's LA store is closed, re-opening "soon" as a Tesla shop

03/02/2013   [Original: Autoblog]
Category: EV/Plug-in, Green Culture, Tesla Motors, Coda Automotive

coda automotive storecoda automotive storeTroubled EV car maker Coda has closed its Los Angeles showoom. In a twist that you're welcome to read meaning into, the space in the high-traffic Westfield Century City shopping center will re-open "soon" as a showroom for ... Tesla Motors.

According to the business magazine LA Observed, Los Angeles-based Coda closed the store after laying off much of its staff. The company also is facing court battles from investors including former Treasury Secretary Hank Paulson and Limited Brands CEO Les Wexner, who invested more than $200 million into the fledgling company.

Coda announced its four-door, five-passenger sedan, in the end of 2010, and the first vehicles rolled off the production line in March 2012 It features a Coda-designed 33.8-kWh lithium-ion battery system with 40 percent more usable energy that other electric vehicles in its class, and proprietary battery and thermal management systems for enhanced safety and durability. Coda claims a 120-mile range per full charge across all US weather conditions.

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