Electric Car Company Coda Goes Belly Up

What's sad is Coda and EV's in general can't even get a real banner ad on this post. Stuck with Google's generic electric cars banner. Compare Lowest Prices & Best Deals from Trusted US Stores - LowerPrices.us Move along nothing to see here I guess.

 

Here there is another earlier thread commenting the same topic: Electric Car company Coda is probably going under | PriusChat

 

i wonder how much u.s. incentive money they got.

 

Electric-Car Maker Coda Files for Bankruptcy to Seek Sale - Bloomberg mentions they sold less than 100 units.

This is comical compared to what their former CEO touted before at Coda Unveils Electric Car Pricing at $45K, Above Volt & LEAF — Tech News and Analysis .

 

"...will seek to acquire the company for just $25 million through the bankruptcy process." ----

 

That's the first question I ask also. The government seems to have its fingers (and our money) into projects like this; the more doubtful the project is, the more likely they are to be running on government money, since no sane person would invest. However, looking at the Wiki page, it lists non-governmental funding.

So it seems that some people really did risk their own money.

I guess buyers would be eligible for a $7500 federal tax credit, and maybe more from the state. So it's not like government money wasn't a big part of the equation.

Coda does more than cars, and the Wiki article mentions their battery partnership with Chinese firms. (It's only the car operation that will disappear here.)

Well, I hope it was the Chinese that got stiffed here, and not the American taxpayer.

 

Not sure, but probably little or none. I don't think Coda leased their cars, so they wouldn't have received the $7500 Federal tax credit.

 

May be wrong car at the wrong time. Sad.

 

From a comment at Coda officially files for bankruptcy, shifts focus to energy storage:

 

Sad because they were running huge ads in paper last year. At SV auto show, rep was practically begging my friend to consider getting one.

Wrong car alright. Outdated Chinese sedan with EV drive train.

 

A new car company of ANY vehicle type failing is the rule. There are so few exceptions that you don't need many fingers. Coda could have done everything perfect and stood no chance of succeeding. It's when a new car company succeeds that deserves attention.

 

^^^
Well, if their car wasn't delayed, if they beat the Leaf to market while delivering a refined and reliable car w/o outdated styling, they'd have had a better chance.

 

Then why didn't they? (That is not a snide comment against you, or me being sarcastic. The same reason Coda did not do this and the reason they failed are probably one in the same.)

 

When I look at the Coda's styling, I just think of Daewoo cars, in which I'm immediately turned off. I don't see how any half-assing design team can come up with something like that in this decade.

 

That's the problem. It was based upon an old ICE Hafei Saibao. Coda Close Series C Round Funding, Investment Now $125m. says

Coda (electric car) - Wikipedia, the free encyclopedia claims

The wood grain bits at Hafei Saibao III & Changan E30 - China Car Forums dress up the interior a bit compared to the Coda. You can get an idea of the interior bits at 2012 Coda Sedan Quick Spin. Hard to justify the kind of prices they were asking.

Folks at teslamotorclub noticed the similarity to Mediocrity at Coda Automotive (formerly Miles Automotive Group) - Page 38.

 

RIP

 

I agree. Just makes no sense if you sell full priced EV, you are trying to ride the futuristic wave. 1980s Chinese made does not = futuristic.

 

Great products make great companies and Tesla is an example. The market is efficient