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Coda Woes Deepen: More Layoffs, Electric-Car Store Closed

The storm clouds continue to darken over electric-car startup Coda Automotive.

The day after Christmas, the company announced on its Facebook page that it had closed its Coda Experience Center showroom in the Westfield Mall Century City.

Then, last Friday, Coda laid off more staff. That day, the company released the following statement:

On Friday, January 4th, CODA furloughed a number of employees as the Company takes necessary action to bolster its financing and better position the business going forward.

The Company has kept in place a sufficient number of staff to keep the Company operational and remains committed to the continued development and distribution of its products.

During this period, CODA will continue to provide service to its dealers and customers.

While unfortunate, we are confident this temporary action will allow the Company to strategically direct resources towards critical operations and put the Company on a more sustainable path.


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