By on April 26, 2012

Coda Automotive withdrew a Department of Energy loan application after two years of waiting. The $334 million loan was supposed to have gone towards establishing an assembly plant in Columbus, Ohio, but for now, production will continue in China.

The plant would have created as many as 2,000 jobs, but the DOE’s stalling means that production will continue overseas. Coda’s Forrest Beanum told Automotive News that

“It became clear to us after the Solyndra debacle that things in Washington as it pertains to this program were becoming quite politicized…Going into an election year, our objective was not to be unnecessarily scrutinized due to politics,” he said. Rather, its goal was to focus on the U.S. launch of its new EV this year, he added.”

Coda final assembly is carried out in California using “glider” chassis assembled in China.¬†Speculating¬†whether Coda would have really added jobs in the Midwest would just be conjecture at this point (Fisker, anyone). It’s encouraging to see Coda looking to add jobs in America, even if, as Ed points out, the car needs some work to be up to American market standards. Maybe their new tie-up with Great Wall will let them build an EV here without government help too.

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7 Comments on “Coda Withdraws DOE Loan Request Worth $334 Million...”


  • avatar
    blowfish

    Is it the case of

    ” With a face like your , u dont need a Vasectomy”

    from late great Rodney Dangerfield.

    building EVs here are becoming as popular as a Pork chops in a Jewish wedding.
    Uncle Sam doesnt wanna to be burnt repeatedly.
    No need to look far just look at the Volt’s sales.

    These sounds like pure EVs and dont even have any mileage extender or ICE, generator of any form.

  • avatar
    cmoibenlepro

    Who’d buy a Chinese-built 40k EV that looks like an old Daewoo ?

    • 0 avatar
      MusicMachine

      Damn. This thing looks 12 years old already. It looks like something I’d think about buying. That CAN’T be good.

    • 0 avatar
      4LiterLexus

      Forget the Daewoo looks for a moment: the value proposition for this car boggles the mind. Total cost of ownership is a huge deal when it comes to hybrids and EVs: why buy something with uncertain resale value and long-term reliability/manufacturer support when a Volt or Leaf exists as an option?

      Had the DOE granted this loan, it would have become a political albatross.

  • avatar
    Robert Schwartz

    “The plant would have created as many as 2,000 jobs”

    And you believed them.

  • avatar
    jpolicke

    Unfortunately, we’ve tapped out the domestic labor force staffing the Fisker factory.


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