Coda Files for Bankruptcy


Green automaker Coda bites the dust as it files for bankruptcy protection in the wake of declining popularity for EVs.

Has anyone even heard of Coda? We aren’t too familiar with it ourselves but the news today surrounding it isn’t good. The small EV carmaker has announced that it has filed for Chapter 11 bankruptcy protection. The automaker laid off a good chunk of its staff a couple of months back in the hope of cutting costs and reorganizing things. Those efforts obviously proved futile. The Los Angeles-based company will continue to receive financing during the bankruptcy process by a group of lenders in order to allow operations to continue for the time being.

The plan, according to Reuters, is for Coda to exit the auto market with a plan to refocus its efforts on the energy storage field. Coda launched its only sedan a year ago for a price of $37,250. Although it had a 125 mile range, the car was small, had a dated design that resembles that of an old Toyota Corolla, and was even recalled due to faulty airbags. Coda was one of the three California-based EV startups in recent years, alongside Fisker and Tesla, but only the latter is now having success. Fisker, as we all know, is also in serious financial trouble and could file for bankruptcy any day now.

You Might Also Like
This Is What Kia Should Do To Create A Sportier Forte
This Is What Kia Should Do To Create A Sportier Forte
Why Mercedes-Benz Needs To Make Smart The Next MINI
Why Mercedes-Benz Needs To Make Smart The Next MINI
Fake Lamborghini Murcielago SV Reverse-Engineered By Iran

The Chinese couldn’t have done it better.

Hennessey Trackhawk Is World's Quickest SUV

That's what a thousand horsepower will do for ya.

5 Things You Need To Know About The 2019 BMW X5

After driving the car for the first time, here are our key takeaways.

Watch The BMW M2 Competition Lap The Ring In 7:52

That was supercar territory not long ago.

Kim Jong-un Gets Classy With New Ride

So much for sanctions.

Drifting A 1,000-HP Corvette On Mountain Roads Takes Some Serious Skill

Thought drifting the entire Nurburgring was challenging? Try it in a 1,000-hp Corvette on a mountain road with no safety rails.

Hennessey Heritage Edition Ford Truck Makes More Power Than Anything You’ve Got

This crazy beast is even more powerful than the Ford GT.

Ford Imagines A Future With No Traffic Lights

Stopping at junctions could be a thing of the past in the future.

One-Off Ferrari 330GT Speciale Is A 50-Year-Old Dream Come True

This stunning coachbuilding project is a tribute to legendary Italian designer Giovanni Michelotti.

What's Hot