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UPDATE 2-Affiliates of electric car maker Coda file for bankruptcy

(Reuters) – Two affiliates of failed U.S. electric-car maker Coda Automotive filed for chapter 11 bankruptcy protection on Tuesday, according to court documents, in another sign of the challenges facing the “green” car industry.

Lio Energy Systems Holdings and Miles Electric Vehicles are seeking to have their cases jointly administered with those of parent Coda Holdings and its affiliates, including Coda Automotive, which filed for bankruptcy on May 1.

Consumers have been slow to gravitate to electric vehicles due to their high cost, lack of convenience and concerns about their driving range. Among the prominent “green” car makers that face an uncertain future is Southern California-based Fisker Automotive Inc, which is seeking a buyer after hiring bankruptcy advisers.

General Motors Co, Ford Motor Co, Nissan Motor Co and Honda Motor Co are among the global automakers that have invested heavily in electric vehicles, but sales have been slow.

Miles Electric Vehicles was founded in 2004 by entrepreneur Miles Rubin and was one of the first U.S. companies to import small, battery-powered electric cars from China. It has focused mainly on low-speed vehicles – electric cars limited to speeds of 25 miles per hour and intended mainly for off-road use by universities and park services.

Rubin is a co-founder and former chairman of Coda Automotive, which was established in 2009 but sold just 100 of its Chinese-made all-electric sedans before closing its doors earlier this year.


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