Santa Monica, California start up Coda automotive will delay the launch date of its battery powered sedan until the second half of 2011, interim CEO Mac Heller said at this year’s LA Auto Show. Coda had been planning to start selling their vehicle next month, through a network of factory-owned retail outlets.
There are no problems with production, Heller said. The delay is just intended to build a buffer into the schedule. The company applied in June for a DOE loan to fund the building of a battery plant on Ohio, and the application is still pending. As such, he is prohibited from commenting on that situation.
Heller, who is an investor in the company had been vice chairman before replacing CEO Kevin Czinger last month. Heller said that Czinger remains a senior strategic advisor to the company. An executive search is underway however, as Heller has said that he does not intend to remains in his current post.
– By: Stephen Calogera
Source: Automotive News (Subscription Required)