Latest in Auction

Image credit:

Coda files for bankruptcy, hopes to sell its EV assets for $25 million

Jon Fingas, @jonfingas
May 2, 2013
Share
Tweet
Share

Sponsored Links

We can't say we were enthused with Coda Automotive's ho-hum EV design, and we know the public wasn't, either. Still, it's hard not to lament the company's fate now that its parent, Coda Holdings, is declaring Chapter 11 bankruptcy and getting out of the car market. The firm has had enough of production delays and slow adoption, and now it's planning to sell its Automotive division through an auction that should net at least $25 million. What's left of Coda will focus on energy storage, if and when it emerges from bankruptcy -- not nearly as exciting a field, but likely more profitable. While the exit was far from unexpected, it reminds us that the modern EV business is more often defined by its casualties than its winners.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share

Popular on Engadget

Jabra's ANC update for the Elite 75t earbuds is now available

Jabra's ANC update for the Elite 75t earbuds is now available

View
Hummer EV 'supertruck' has a UI built on Unreal Engine and runs Android

Hummer EV 'supertruck' has a UI built on Unreal Engine and runs Android

View
Jony Ive will help design 'the future of Airbnb'

Jony Ive will help design 'the future of Airbnb'

View
Apple iPad Air (2020) review: Who needs the iPad Pro?

Apple iPad Air (2020) review: Who needs the iPad Pro?

View
Quibi confirms it's shutting down

Quibi confirms it's shutting down

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr