Benicia-Assembled CODA Electric Carmaker Files for Bankruptcy

Electric cars made in China will no longer be rolling off a Benicia assembly line.

Santa Monica-based CODA Automotive, the makers of the all-electric CODA sedan, filed for bankruptcy protection Wednesday.

"After concluding a comprehensive review of our strategic options, the Board of Directors, management team and senior lending group have concluded that focusing on the Company’s energy storage business presents the best opportunity moving forward,” CODA Holdings, Inc., CEO Phil Murtaugh said in a statement on the company's website.

The company said it hopes to be sold, and will focus on energy storage.

CODA's cars were made in China and assembled at Amports in Benicia, Patch previously reported.

The company was heralded by city officials, but the cars received a poor welcome in the marketplace: fewer than 100 CODA cars were ever sold, Bloomberg reported.

--
Do you subscribe to the Benicia Patch newsletter? It brings our latest stories, blogs, announcements and the day's calendar events to your inbox early each morning.
Do you have opinions, experiences and views to share? Consider becoming a Benicia Patch blogger!