Coda Automotive Files Ch.11: Another One Bites the Dust
The amazing revelation about the economic downturn of the late 00's and subsequent auto industry crisis, was that it seemingly opened the door for new upstart carmakers to enter the fray. Tesla, Fisker and Coda were all small-run automakers that were able to squeeze their way into the cracks left by the then-crumbling Detroit Big Three. As the automotive industry regained its footing and each of these newcomers experienced growing pains, the odds began to mount against the little guys. This has culminated in the recent demise of Fisker, and now word that electric Automaker Coda to officially file Chapter 11 bankruptcy. According to a press release from Coda Automotive, the company will cease its vehicle production and focus on energy storage. This news does not come as much of a surprise, as there have been layoffs and rumors, but it is still another shot for those who are rooting for the proliferation of alternative fuel vehicles in the American automotive marketplace. This continues to speak to the tremendous accomplishment of Tesla. Through all of this, the electric carmaker has managed to stay afloat, and continues to do so with a novel concept- making a good car that people want to drive. As the final major electric automaker still at large, we'll be very intrigued as to how Tesla performs in sales in years to come.