Electric vehicle maker Coda lays off 15 percent of staff(Read article summary)
Coda Automotive, an electric vehicle company, confirmed Tuesday that it had laid off about 50 people, or 15 percent of its 330-person staff, Voelcker writes.
If you're a couple of years late launching your car, and it gets only tepid reviews, and then its frontal crash safety is rated at just two stars out of five, it might be safe to say your company has a few challenges.
That's the situation for Coda Automotive, which yesterday confirmed that it had laid off about 50 people, or 15 percent of its 330-person staff.
The company's senior vice president of government relations and external affairs, Forrest Beanum, issued a statement saying:
Coda has released approximately 50 employees or 15% of our workforce across all functions to streamline our operations and right-size the Company. The Company is taking this action to better position our business going forward. We remain committed to the continued development and distribution of our products.
The quality and safety of our products is of paramount importance. Coda vehicles meet all applicable U.S. Federal Motor Vehicle Safety Standards (FMVSS) and achieved an overall 4-star rating in National Highway Transportation Safety Administration (NHTSA) testing.
The company has refused to release any sales figures since it put its car into production in March--generally not a good sign.
That qualifies the Coda Sedan as a U.S.-assembled car, but the startup company has struggled to offer a fully competitive vehicle.
But the car was so riddled with detail flaws that irritated drivers that it seemed unlikely to be bought by retail customers against plug-in electric cars from established brands like Nissan or Chevrolet.
And what the company says are the car's competitive selling points--a real-world range of close to 100 miles, a 6-6-kilowatt onboard charger, and its sedan body style--are not likely to remain unique to it for long.
Will Coda survive? Is the 2012 Coda Sedan a viable electric car in today's fast-moving car market?