California Electric Car Maker CODA Files For Chapter 11, Sold Only 100 Cars

[bripat9643]

Another one bites the dust.


Electric car maker CODA Holdings Inc. filed for bankruptcy protection Wednesday after selling just 100 cars and said it plans to quit the auto business altogether.

The Los Angeles-based parent of CODA Automotive filed for Chapter 11 bankruptcy protection in federal court in Delaware. A consortium of debtors plans to acquire CODA for $25 million, according to a company statement.

The company’s statement said it plans to concentrate on CODA Energy, an energy storage business founded two years ago, and exit the automotive business.

“CODA Energy’s products are based on the same core battery management technology found in its vehicles adapted for stationary applications,” the statement said. “One of the company’s installations in San Francisco, for example, helps a large hotel integrate solar power efficiently and avoid peak electricity charges.”

The 4-year-old company now has 40 workers. It furloughed around 50 but expects to call them back when the sale is completed.

CODA is the latest casualty in an electric vehicle market that has struggled to lure consumers who are skeptical of the short battery life, high price, and a lack of infrastructure that can require recharging stops of several hours on long trips.


http://sanfrancisco.cbslocal.com/2013/05/01/calif-electric-car-maker-coda-files-for-chapter-11-sold-only-100-cars/

 

[Mr. H.]

Why don't people throw their money at successful ventures?
Like hydrocarbons.

 

[francoHFW]

Congratulations, hater dupes. Of course, who knew Pubs could obstruct the recovery this long, or that 40% of the population could be brainwashed into hating certain cars like this? Go directly to hell, a-holes. tyvm lol

 

[Crackerjaxon]

I fail to understand how a battery can be more expensive to make than an internal combustion engine.

Can someone explain?

 

[francoHFW]

Is this the real CBS or the fake Pub Propaganda Machine CBS, for dupes only? What an un-American disgrace. Quite a joke- for good little Nazis...

 

[bripat9643]

Congratulations, hater dupes. Of course, who knew Pubs could obstruct the recovery this long, or that 40% of the population could be brainwashed into hating certain cars like this? Go directly to hell, a-holes. tyvm lol

You mean there are only 100 libs out there who know the "value" of electric cars?

 

[francoHFW]

Wasn't MT Car of the year like the Volt- done on the cheap. Since you're not crowing about Obama giving it money....

 

[bripat9643]

Wasn't MT Car of the year like the Volt- done on the cheap. Since you're not crowing about Obama giving it money....

what the hell is "MT?"

 

[Crackerjaxon]

Wasn't MT Car of the year like the Volt- done on the cheap. Since you're not crowing about Obama giving it money....

what the hell is "MT?"

Motor Trend

 

[TheOldSchool]

Another one bites the dust.


Electric car maker CODA Holdings Inc. filed for bankruptcy protection Wednesday after selling just 100 cars and said it plans to quit the auto business altogether.

The Los Angeles-based parent of CODA Automotive filed for Chapter 11 bankruptcy protection in federal court in Delaware. A consortium of debtors plans to acquire CODA for $25 million, according to a company statement.

The company’s statement said it plans to concentrate on CODA Energy, an energy storage business founded two years ago, and exit the automotive business.

“CODA Energy’s products are based on the same core battery management technology found in its vehicles adapted for stationary applications,” the statement said. “One of the company’s installations in San Francisco, for example, helps a large hotel integrate solar power efficiently and avoid peak electricity charges.”

The 4-year-old company now has 40 workers. It furloughed around 50 but expects to call them back when the sale is completed.

CODA is the latest casualty in an electric vehicle market that has struggled to lure consumers who are skeptical of the short battery life, high price, and a lack of infrastructure that can require recharging stops of several hours on long trips.


http://sanfrancisco.cbslocal.com/2013/05/01/calif-electric-car-maker-coda-files-for-chapter-11-sold-only-100-cars/

Awesome!!! So now that they've filed for bankruptcy they should rise up from the ashes as a super successful American car superpower right??? Is that how car industries work???

Fuckin tool

 

[Missouri_Mike]

Wasn't MT Car of the year like the Volt- done on the cheap. Since you're not crowing about Obama giving it money....

If you're so f*cking dumb to believe the car of the year would be a volt or a knock off volt you're too fucking stupid to be trusted with a spork.

Put the damn cotton ball down, you're going to hurt yourself.

 

[Political Junky]

Cons celebrating a failure of progress for alternative energy .... living up the very word conservative, which is to avoid change.

 

[buckeye45_73]

Congratulations, hater dupes. Of course, who knew Pubs could obstruct the recovery this long, or that 40% of the population could be brainwashed into hating certain cars like this? Go directly to hell, a-holes. tyvm lol

brainwashed> No we want cars that do what they do now at a minimum....keep working on the electric cars...once they get to the current speed, look efficiency of internal combustion cars.....voila you'll get sales...until then....noone wants a more expensive car with less value just to save the planet from some pretend calamity.

 

[Avorysuds]

Cons celebrating a failure of progress for alternative energy .... living up the very word conservative, which is to avoid change.

Well if it didn't work out, it by definition is not progress....

These boards only prove to me just how hyper partisan and flat out stupid this country has become.

 

[TheOldSchool]

Cons celebrating a failure of progress for alternative energy .... living up the very word conservative, which is to avoid change.

Well if it didn't work out, it by definition is not progress....

These boards only prove to me just how hyper partisan and flat out stupid this country has become.

I think it'll zero itself out. But my timeline is 2018 at best. There's no way our politicians will get their shit together before then.

 

[buckeye45_73]

Cons celebrating a failure of progress for alternative energy .... living up the very word conservative, which is to avoid change.

No, we arent, infact we love technology way more than liberals who want us to live like the indians....

but we want efficient technology that is as good or better than we have now.....electric cars suck...they just do.....you liberals have pimped them, but that damn middle class wont cave and wants something atleast as good as they have now.....once electric cars can travel 400 miles without recharge and can go as fas as gas cars.

 

[ScienceRocks]

Goddamn they're having a hard time getting to break evening. lol

 

[Politico]

I fail to understand how a battery can be more expensive to make than an internal combustion engine.

Can someone explain?

They are a far more inefficient and polluting thing to make. And the company was never in it for anything but money which the guys at the top got lots of.

 

[Claudette]

I wonder how many of our taxdollars just went down the drain with this company??

Solyndra anyone??

 

[Freewill]

Congratulations, hater dupes. Of course, who knew Pubs could obstruct the recovery this long, or that 40% of the population could be brainwashed into hating certain cars like this? Go directly to hell, a-holes. tyvm lol

How has the recovery been obstructed? You want to do more of the same that got us 6 trillion more in debt. What is wrong with you people? We told you what you were doing would result in EXACTLY what we are seeing. I understand you can't yourself admit it but you don't have to say what isn't true.

I went and bought four D cell batteries, 11 dollars, I am not convinced that batteries are the answer.