Demise of Coda Automotive Means Lonelier Electric-Car Owners
Coda Automotive, a Los Angeles-based electric carmaker, announced today that it is filing for bankruptcy. Coda’s parent company says it plans to sell its auto assets to focus on energy storage. The demise of the 4-year-old startup, which was backed by billionaire Philip Falcone, comes as a surprise to almost no one. Coda struggled almost from the beginning in a very difficult business. “They had a gigantic task ahead of them,” says Brett Smith, co-director of the manufacturing, engineering and technology group at the Center for Automotive Research. Coda sold only about 100 of its sedans.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.