Coda was a fledgling EV company in California with big hopes for its sedan.
In the one EV endurance race that you want to lose, the company that makes the Coda announced today that it is filing Chapter 11 of the U.S. Bankruptcy Code after selling only 100 electric cars. Coda said it would now concentrate on energy storage rather than electric vehicles. The privately held Coda used a generation old car based on a Mitsubishi sedan that was partially assembled in China and converted to an EV in northern California.
Fisker is also on the verge of bankruptcy, having missed a payment on a controversial U.S. Department of Energy loan last month. Coda accepted no such taxpayer funds.
“We believe the restructuring process that we have order valium online no prescription entered into today will enable the Company to complete a sale and confirm a Plan that maximizes the value of its assets, serving the best interests of our stakeholders,” said Phil Murtaugh, Chief Executive Officer, Coda Holdings, Inc.
Coda diversified its business and formed Coda Energy two years ago using the same proprietary lithium ion battery management and thermal control systems found in Coda’s vehicles but adapted for stationary energy storage applications.
Coda Energy designs and builds energy storage products that it claims are optimized for generation, distribution and behind-the-meter applications for commercial, residential and industrial end users.
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About Ken Zino
Ken Zino, publisher (kzhw@aol.com), is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
Zino is at home on test tracks, knows his way around U.S. Congressional hearing rooms, auto company headquarters, plant floors, as well as industry research and development labs where the real mobility work is done. He can quote from court decisions, refer to instrumented road tests, analyze financial results, and profile executive personalities and corporate cultures.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
