Demise of Coda Automotive Means Lonelier Electric-Car Owners

Coda Automotive, a Los Angeles-based electric carmaker, announced today that it is filing for bankruptcy. Coda’s parent company says it plans to sell its auto assets to focus on energy storage. The demise of the 4-year-old startup, which was backed by billionaire Philip Falcone, comes as a surprise to almost no one. Coda struggled almost from the beginning in a very difficult business. “They had a gigantic task ahead of them,” says Brett Smith, co-director of the manufacturing, engineering and technology group at the Center for Automotive Research. Coda sold only about 100 of its sedans.

Now that the company no longer is in the car business, what will Coda owners do if they need repairs or have problems with their cars? They are likely out of luck. “There are probably some parts in pipelines that consumers might be able to find on eBay (EBAY). And maybe the company will be able to support them because there are so few. But the reality is they are abandoned,” says Smith. (Coda did not respond to calls and e-mails for comment.)

READ MORE:  http://www.businessweek.com/articles/2013-05-01/demise-of-coda-automotive-means-lonelier-electric-car-owners