Electric carmaker Coda pulls plug after one year, 100 sales
Coda, which joined the green car fraternity and introduced its vehicles to California consumers about one year ago, has filed for bankruptcy protection after selling only about 100 of its all-electric sedans. The five-passenger Coda E.V., imported from China, had a range of 125 miles on a single charge. But the $37,250 vehicle was criticized for its no-frills styling. Its brief tenure also included a recall for faulty air bags. According to Reuters, the bankruptcy filing with the federal Bankruptcy Court in Delaware will allow the Los Angeles company to leave the auto industry and refocus on energy storage. Coda uses the same technology it used in cars to build systems for utilities and building operators to store power. A
Read more