Today Coda Holdings, Inc,. announced it was restructuring via voluntary Chapter 11 bankruptcy as a means to exit the automotive side of its business and focus on the energy storage systems side. As filed in the District of Delaware, Coda Holdings has made arrangements to be sold to FCO MA CODA Holdings LLC, an affiliate
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California-based Coda Automotive trimmed 15 percent of its workforce last Friday. In a statement released yesterday the electric vehicle manufacturer acknowledged the layoff of approximately 50 employees. News first broke of the decision to euphemistically “right-size” Coda – as the company referred to the layoffs – last Tuesday on PluginCars.com. An anonymous source within Coda revealed
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The HybridCars.com monthly sales dashboard is a collaboration of HybridCars.com and Baum & Associates, a Michigan-based market research firm focusing on automotive issues including the hybrid and electric vehicle market. While the Toyota Prius Liftback continues to pace the hybrid vehicles, the Camry Hybrid continues to perform well at over 10 percent of Camry sales,
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The HybridCars.com monthly sales dashboard is a collaboration of HybridCars.com and Baum & Associates, a Michigan-based market research firm focusing on automotive issues including the hybrid and electric vehicle market. Hybrid sales reached 3.0 percent of total North American sales, the highest level since April. While the Prius hybrid continues to pace the segment, the
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While Saab’s bankruptcy last December is still proving hard to swallow among many in the industry, there’s been no shortage of potential suitors looking to revive the Swedish automaker. Besides Zhejiang Youngman Lotus Automobile Group, which narrowly missed acquiring the automaker and is still in talks with Saab’s receivers, an as yet unnamed Sino-Japanese consortium
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On Friday CODA enthusiastically announced it had delivered its all-electric mid-sized sedan to its first three California customers. Two early reservation holders from the Southern California area, and one from up north stepped up to take delivery of their five-passenger batter electric vehicles that are based on Chinese chassis and which receive final assembly in
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Coda Automotive’s first production 2012 Coda Sedan drove off the assembly line today, Monday March 12. According to the company, the electric car, built in Benicia, Calif., will soon finally be available for delivery to Coda dealers in California. “This is an incredibly exciting day for the CODA family and the EV community,” said Mac
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Despite multiple delays, Coda Automotive chief executive Phil Murtaugh told the media last week he remains confident that sales of his company’s debut vehicle, the electric Coda Sedan, will commence before the end of February. During an interview with The Detroit News, Murtaugh claimed that the $37,250 Coda Sedan is ready to sell as soon
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As Coda makes “final preparations” for the debut of its electric sedan initially to the California market this year, its parent company says it has raised an additional $147 million in financing. Coda Holdings has reportedly now raised $300 million since being founded in 2009, and its business also includes units that build lithium batteries
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Goodyear has announced that it is developing a self-inflating tire. In a press release, the Akron-based tire giant trumpeted what it is calling its Air Maintenance Technology, which incorporates pressure gauges and a miniaturized pump inside of each tire to ensure proper inflation at all times. “While the technology is complex, the idea behind the
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