Coda USA Files For Bankruptcy

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Coda USA have filed for bankruptcy just days after several other US manufacturers announced plans for similar commercial activities that revolve around developing an EV on the back of an existing Chinese car. Coda has entered into Chapter 11 bankruptcy to help it re-ogranise and focus on the development of energy storage according to a statement posted on its website earlier this week.

The LA based company was struggling to sell its $38,145 Coda EV that was largely created in China and re-assembled in the USA. In August last year it was revealed that the company had sold just 78 cars which then followed staff layoffs where 15% of the company’s staff were cut.

Coda based its flagship EV on the Hafei Saibao sedan which was designed and built in Harbin City, North east China. Last year Coda signed an agreement with Great Wall to develop and produce an EV vehicle that would be on the market by 2015, with the oncoming bankruptcy it seems unlikely that any Greatwall EV will be produced with Coda’s help in the near future.

About the author  ⁄ Ash

China Car Times is the number one portal for the latest information, statistics, and industry information on the Chinese automotive industry. Over the past six years of operation we have seen the Chinese auto market grow from a backwater of old European models to the world's largest auto market with the world's leading technology being delivered here first. You can connect with China Car Times founder and Editor Ash Sutcliffe by clicking on the Linkedin logo, you can also follow us on Twitter, Facebook and Google Plus via the relevant icons

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