tobye wetware: Coda sheds 15 percent of workforce, has reportedly sold fewer than 100 sedans

Friday, December 14, 2012

Coda sheds 15 percent of workforce, has reportedly sold fewer than 100 sedans

Despite having shaved off greenbacks from its all-electric sedan's price tag, it appears business isn't going as well as hoped for EV-maker Coda Automotive. After getting word from an anonymous source regarding layoffs at the automaker, Plug In Cars has received a confirmation of the staffing slash from Coda's senior vice president of Government Relations and External Affairs, Forrest Beanum. "CODA has released approximately 50 employees or 15% of our workforce across all functions to streamline our operations and right-size the Company," Beanum said. According to the exec, Coda is committed to continuing development and distribution of its products, and that the measure was an effort to better position the firm for the future. Plug In Cars' anonymous source also made mention of sales, which have reportedly slowed practically to a halt after the auto was was recalled by the National Highway Transportation Safety Administration in August thanks to safety equipment issues. To make matters worse, it's said that Coda has sold fewer than 100 cars since sales began last spring.

Filed under: Transportation