Gigoam.com, 11 Dec 2012Following struggles by Better Place, Fisker Automotive and the bankrupt A123 Systems, electric car startup Coda Automotive has laid off 50 workers, according to PluginCars. The car company has reportedly had really slow sales, and recently received a low score for its frontal crash test.
A Coda spokesperson said that 50 employees was 15 percent of the workforce. The company’s first electric sedan to market was delayed by years, and the car maker officially launched its sales in the Spring of 2012. But even after launch, the company had to recall 78 of its cars for faulty parts.
Coda has a joint venture with China battery maker Lishen, called Lio (oil spelled backward), and is in the process of raising $150 million in funding to help get these inaugural cars to the first customers in California. Other investors in Coda include Aeris Capital and Singapore-based EDB Investments. Full story
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