Mexican Media Brands
Coda Sheds More Employees
Electric vehicle maker Coda Automotive Inc. says it will furlough an unspecified number of its remaining 275 employees for three months as part of a new round of cost cutting.
#hybrid
Share
Electric vehicle maker Coda Automotive Inc. says it will furlough an unspecified number of its remaining 275 employees for three months as part of a new round of cost cutting.
The ailing Santa Monica, Calif.-based start-up says it will keep enough workers to keep the company operating. Coda shed 50 employees in December.
The company began producing the $38,100 Coda sedan in March after many delays. Hafei Automotive Group produces the body in China, and Coda installs an electric powertrain in Benicia, Calif.
The company said in mid-September that it had delivered 100 vehicles, but it has declined to update that total since. Coda, which set a goal of raising $500 million in fresh capital last year, also won't say how much financing it received.
RELATED CONTENT
-
On Ford Maverick, Toyota Tundra Hybrid, and GM's Factory Footprint
GM is transforming its approach to the auto market—and its factories. Ford builds a small truck for the urban market. Toyota builds a full-size pickup and uses a hybrid instead of a diesel. And Faurecia thinks that hydrogen is where the industry is going.
-
Tesla Owners in Germany Ordered to Return Subsidy
Germany has ordered about 800 Tesla Model S electric cars owners to pay back a €4,000 ($4,700) government subsidy they received.
-
Will Alcraft Take Off?
“British electric vehicle start-up Alcraft Motor Company has revealed details of its first car, the high-performance Alcraft GT.