U.S. electric car maker Coda files for bankruptcy

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lester12483
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U.S. electric car maker Coda files for bankruptcy

Post by lester12483 » May 02, 2013 6:56 am

Here is a link to the story http://www.cnbc.com/id/100696281
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Re: U.S. electric car maker Coda files for bankruptcy

Post by bowlofsalad » May 03, 2013 11:22 pm

Wow, 300 million in private funding and their car still cost 37,000. I was thinking, start small in business, the down side to that is your production cost is higher. But how many cars could they have made with that much cash?

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Re: U.S. electric car maker Coda files for bankruptcy

Post by lester12483 » May 05, 2013 9:03 pm

The EV market is a tough business. The Fisker Karma went bust too and they got $500 million to make about 100 cars in FINLAND!. Talk about government waste.
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Re: U.S. electric car maker Coda files for bankruptcy

Post by bowlofsalad » May 05, 2013 9:10 pm

What the hell are these people doing with all this money? I would guess they paid themselves huge salaries.

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Re: U.S. electric car maker Coda files for bankruptcy

Post by Ben Wilson » May 05, 2013 10:09 pm

Looks to me like they just had a lousy business model.

People buying an electric car these days want something special; the "whitegoods with wheels" Coda were selling may be OK in 10-15 years time, but at the moment they needed a hook of some kind.

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Re: U.S. electric car maker Coda files for bankruptcy

Post by lester12483 » May 07, 2013 5:46 am

They spent a ton of money on design and development and it ended up vaporware. Coda was just an ugly looking car. For $30k I would rather get a Chevy Volt.
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