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Electric car maker Coda files for bankruptcy

Green car startup Coda Holdings Inc filed for Chapter 11 bankruptcy protection on Wednesday after selling just 100 of its all-electric sedans, another example of battery-powered vehicles' failure to break into the mass market.The filing with U.S. Bankruptcy Court in Delaware will allow the Los Angeles company to exit the auto sector and refocus on energy storage, a far less capital-intensive business. The company uses the same technology it used in cars to build systems for utilities and building operators to store power.Coda raised over $300 million in private funding during its brief history from high profile names like former Treasury Secretary Henry Paulson and Limited Brands Chief Executive Les Wexner. Now, a group of lenders led by Fortress Investment Group LLC will seek to acquire the company for just $25 million through the bankruptcy process.The company launched its five-passenger electric car in California a year ago, delivering a range of 125 miles on a single charge. The $3...

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  1. Commerce Secretary John Bryson Resigns

    Involved in alleged hit-and-run incident

  2. U.S. Commerce Secretary Bryson Resigns

    U.S. Commerce Secretary John Bryson on Thursday announced his resignation, two weeks after he suffered a seizure and went on medical leave. Bryson sent a letter of r...

  3. Commerce Secretary Bryson Resigning to 'Prevent Distractions'

    Commerce Secretary John Bryson, who has been under investigation for his role in two car crashes earlier this month, said on Thursday he was resigning to "prevent di...

  4. Commerce Secretary to Take Medical Leave

    Involved in two car crashes

  5. Obama Cabinet member involved in two car crashes

    Commerce secretary to take leave of absence

  6. Is anyone ever home in the House?

    The House of Representatives is in its seventh week-long recess already

  7. Officials: Commerce sec'y suffered a seizure during crash

    John Bryson cited for felony hit and run in California

  8. Hit-and-run involving Commerce secretary under investigation

    John Bryson found unconscious in car after two separate accidents in Los Angeles

  9. Secretary John Bryson May Have Suffered Seizure in Connection With Car Accidents

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  10. US Commerce secretary cited in hit-and-run

    Obama Cabinet member John Bryson cited for felony hit-and-run following two car crashes

  11. U.S. Commerce Secretary Investigated for Hit-and-Run Car Crash

    U.S. Secretary of Commerce John Bryson is being investigated for several hit-and-run car crashes in Southern California on Saturday that police say appear to have be...

  12. Iranian Pastor Refuses To Reject Religion, Faces Execution

    Youcef Nadarkhani faces death penalty

  1. Cutting Out Fiscal Red Ink ... Literally

    Rep. Bill Cassidy of Louisiana has launched an effort to eliminate another area of potential government waste: oil paintings.Cassidy and several other House Republic...

  2. Chuck Hagel Confirmation in Doubt?

    Sen. James Inhofe, (R-Okla.), on Chuck Hagel’s confirmation hearings.

  3. Who is Running the Government for Obama?

    FBN’s Lou Dobbs on the President’s Cabinet members.

  4. Obama Relying on Political Advisors More Than Cabinet Members?

    FBN’s Lou Dobbs on the President’s lack of meetings with his Cabinet members while meeting on a regular basis with his political advisors.

  5. Fast and Furious Standoff Raises Toxicity Level

    Chris Stirewalt and AB Stoddard discuss the controversy surrounding Fast and Furious.

  6. Power Play 6-21-2012

    Power Play with Chris Stirewalt: Fast and Furious standoff raises toxicity level in Washington, The Mormon thing and Obama fundraising slows, but campaign spending doesn't. Join the live chat...

  7. U.S. Commerce Secretary Bryson Resigns

    FBN's Tracy Byrnes breaks down afternoon market news.

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