codaautomotive
Latest
Coda files for bankruptcy, hopes to sell its EV assets for $25 million
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.
Coda sheds 15 percent of workforce, has reportedly sold fewer than 100 sedans
Despite having shaved off greenbacks from its all-electric sedan's price tag, it appears business isn't going as well as hoped for EV-maker Coda Automotive. After getting word from an anonymous source regarding layoffs at the automaker, Plug In Cars has received a confirmation of the staffing slash from Coda's senior vice president of Government Relations and External Affairs, Forrest Beanum. "CODA has released approximately 50 employees or 15% of our workforce across all functions to streamline our operations and right-size the Company," Beanum said. According to the exec, Coda is committed to continuing development and distribution of its products, and that the measure was an effort to better position the firm for the future. Plug In Cars' anonymous source also made mention of sales, which have reportedly slowed practically to a halt after the auto was was recalled by the National Highway Transportation Safety Administration in August thanks to safety equipment issues. To make matters worse, it's said that Coda has sold fewer than 100 cars since sales began last spring.
Coda sedan EV hits California dealerships, spreads semi-frugal greenness
Coda Automotive's EV sedan has been a long time coming -- but it's here in earnest now. After some initial deliveries two months earlier and the slight matter of parts arriving from China with minor damage, the California-assembled electric car should be in the fledgling automaker's Los Angeles dealership this week. Don't assume the sales rep will have the sedan in your preferred shade of periwinkle blue, however: although all four of Coda's dealerships in California will have samples for test drives, just ten units of the inaugural EV are on sale at the LA location. Should you happen to jump to the front of the small queue, expect to pay a relatively reasonable $39,900 before a tax credit for the regular sedan with a 150-mile range, or an ever-so slightly more economical $37,250 for the 125-mile edition.
Coda announces cheaper, worse version of bland all-electric sedan
We know what you're thinking: Coda's all-electric sedan is getting another price cut? No plebes, instead of slashing the price, it's opting instead to release a lower-ranged variant of the $39,900 car for $2,650 less. Those savings net a smaller 31kWh battery which'll go 125 miles on a charge -- 5kWh and 25 miles less than its more expensive brother. That equates to a real-world starting price of under thirty grand after federal rebates take effect. Last we checked, we can't think of anyone wanting less range, but maybe with its lower starting price it'll generate enough buzz to hit those lofty sales goals.
Coda lowers price of electric sedan, sends it into production ahead of 2012 launch
Coda Automotive has set some lofty goals for its forthcoming all-electric sedan, and this week, it began pursuing them. On Tuesday, the upstart manufacturer confirmed that production of its 2012 Coda Sedan is already underway, with the first deliveries scheduled to roll out in January. With an estimated range of 150 miles, the sedan will also be powered by a 36-kWh battery pack, providing it with 134 horsepower. Most intriguing, however, is the car's new price, which now sits at $39,900, compared with the $44,900 price tag announced earlier. That puts it well within range of competitors like the Ford Focus Electric and Nissan Leaf, though as Coda's Thomas Hausch explained to AutoblogGreen, the change isn't exactly a "price drop," since the Sedan hasn't actually been sold at its earlier price point. Technicalities aside, it's now cheaper than previously expected, which is all that really matters for your bottom line. Full PR after the break.
Coda sets target of 50,000 electric vehicles sold by 2015, mostly in the US
Upstart Coda Automotive may not have met its original goal to start selling its all-electic sedan in California by the end of 2010, but that's not stopping it from making some other fairly bold projections. Apparently, the company is now on track to begin selling the car in the US sometime in the second half of this year, and it's set a target of 10,000 to 14,000 cars sold in the first 12 months after its launch, and a full 50,000 sold by 2015 -- all mostly in the United States. As for the car itself, it doesn't look like a whole lot has changed lately -- it'll run you $37,400 after the federal tax savings, and give you a range of between 90 and 120 miles on a charge from its lithium iron phosphate battery, which can be fully topped off in just six hours. You can already reserve one at the link below if that sounds like the electric car you've been waiting for.
Video: Coda Automotive bringing Miles Electric's sedan to California in 2010
Remember that Miles Electric sedan we heard about last month? Yeah, well it's coming to California's shores next year. An all new car company, doing business under the name of Coda Automotive, has just been formed in order to bring said vehicle into production. The all-electric, four-door Coda won't break down any walls in the design department, but the $45,000 (mid-$30,000s after a $7,500 Federal tax credit and additional state incentives) whip sure sounds promising as an eco-friendly daily driver. Reportedly, it'll cruise for around 90 to 120 miles without needing a recharge, and the batteries within can be charged enough for a 40-mile commute in two hours. It'll also ship with a navigation system, Bluetooth, iPod support and power everything as standard, but sadly, there's no telling when it'll be sold outside of the The Golden State. Video promo is after the break.
