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    Requiem For A Electric Car Dream: Coda Automotive Files For Bankruptcy



    By William Maley

    Staff Writer - CheersandGears.com

    May 2, 2013

    Coda Automotive is the latest casualty in the electric car industry. Yesterday, the company sent out a press release announcing they would be filling for Chapter 11 Bankruptcy in the District of Delaware.

    "After concluding a comprehensive review of our strategic options, the Board of Directors, management team and senior lending group have concluded that focusing on the Company’s energy storage business presents the best opportunity moving forward,” said Phil Murtaugh, CEO of CODA Holdings, Inc.

    “We believe the restructuring process that we have entered into today will enable the Company to complete a sale and confirm a Plan that maximizes the value of its assets, serving the best interests of our stakeholders.”

    The company says the proceedings should take around 45 days to complete.

    The writing on the wall for Coda Automotive has been there for awhile. The company announced layoffs and store closing after sales of the Coda Sedan didn't meet expectations.

    Source: The Detroit News, Coda Automotive

    William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.comor you can follow him on twitter at @realmudmonster.

    Press Release is on Page 2


    CODA Holdings, Inc. to Restructure Business around Energy Storage

    May 1, 2013 -- Los Angeles, CA -- CODA Holdings, Inc. (“the Company” or “CODA”) announced today that it is focusing its business strategy on the growing energy storage market. CODA plans to implement the restructuring of its business through a voluntary filing under Chapter 11 of the U.S. Bankruptcy Code. The voluntary petition was filed today in the District of Delaware. This process is intended to enable the Company to complete a sale, confirm a Plan and emerge from bankruptcy in a stronger position to execute its new business plan. The Company expects the sale process to take 45 days to complete.

    FCO MA CODA Holdings LLC, an affiliate of Fortress Investment Group, is leading a consortium of lenders intending to provide debtor-in-possession (DIP) financing to enable the Company’s energy storage business to remain fully operational during the restructuring process. The Company has filed a motion with the bankruptcy court for approval of the consortium, or its designee, as the stalking horse bidder in the sale process to acquire the Company post-bankruptcy. In addition, the Company will seek to monetize value of its existing automotive business assets.

    "After concluding a comprehensive review of our strategic options, the Board of Directors, management team and senior lending group have concluded that focusing on the Company’s energy storage business presents the best opportunity moving forward,” said Phil Murtaugh, Chief Executive Officer, CODA Holdings, Inc. “We believe the restructuring process that we have entered into today will enable the Company to complete a sale and confirm a Plan that maximizes the value of its assets, serving the best interests of our stakeholders.”

    CODA diversified its business and formed CODA Energy two years ago. CODA Energy’s products are based on the same core technology, which includes its proprietary battery management and thermal management systems, found in CODA’s vehicles adapted for stationary energy storage applications. The Company designs and builds scalable, custom energy storage solutions optimized for generation, distribution and behind-the-meter applications for commercial, residential and industrial end users. The Company is currently shipping product, and has a robust pipeline of new customers and existing installations in the field.

    CODA’s legal advisor in connection with the restructuring is White & Case LLP. Emerald Capital Advisors serves as its Chief Restructuring Officer and restructuring advisor, and Houlihan Lokey serves as its investment banker for the restructuring. Sidley Austin LLP is serving as FCO MA CODA Holdings LLC’s legal advisor.

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    • By William Maley
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      Two electric motors mounted on the axles produce 400 horsepower and 516 pound-feet of torque. The run to 60 mph takes under five seconds. A floor-mounted 70kW lithium-ion battery pack provides a range of 310 miles. Charging can be done through a high-speed “wallbox” or inductive floor charger. Down the line, Mercedes plans on launching a 300kW charger that will provide 62 miles of range in five minutes. 
      The platform that the Generation EQ rides on is modular and will go forward to underpin a number of vehicles in the near future.
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      Source: Mercedes-Benz
      Live Pic Credit: Newspress
      Press Release is on Page 2
      Electric mobility: Mercedes-Benz flips the switch
      Generation EQ – mobility revisited September 29, 2016 - Paris/Stuttgart
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      The 24-inch (53 x 11 cm) TFT high-definition wide-screen display presents all the relevant information, such as speed, range, driving data or navigation and map details. The innovation is apparent from the differentiation between a highly reduced and a complex display, including intermediate stages. Whether there is a low information density with a very clean look to the display, or whether extra content is on view, is left to the driver's personal preference.
      User interface design with individualised content
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      Bordered in rose gold, the centre console appears to float in space: dispensing with mechanical controls, it is equipped with touch-sensitive elements. Similarly to the touch controls on the steering wheel, the driver can use a finger to operate the automatic climate control and the infotainment system. As "Generation EQ" is devoid of conventional exterior mirrors, cameras are used to project an image of the traffic behind onto integrated displays in the doors. Both the door openers and the electric window lifters are touch-controlled.
      Avant-garde, functional interior
      "Generation EQ" comes with four individual seats. The reduced volume, impression of floating in space and avant-garde seat upholstery layout make for a visual lightness. A tailored sound experience is provided by speakers integrated into the head restraints. The side bolsters are covered in light-white leather, while perforations with a pixel rain look reveal a view of particles in rose gold. Stitching with a PCB look on the deep-brown centre sections produces an exciting contrast. TFT monitors for rear-seat entertainment are integrated into the front backrests.
      EQ: the new electric mobility brand from the inventor of the automobile
      EQ offers a comprehensive electric mobility ecosystem with products, services, technologies and innovations. The spectrum ranges from electric vehicles to wallboxes and charging services to home energy storage units. Mercedes-Benz will market future battery-electric vehicles under the brand name EQ. The name stands for "Electric Intelligence" and is derived from the Mercedes-Benz brand values of "Emotion and Intelligence". The new brand encompasses all key aspects for customer-focused electric mobility and extends beyond the vehicle itself. Future models will embody the essentials of state-of-the-art electric mobility: the fusion of emotively appealing and intelligent design, exceptional driving pleasure, high everyday practicality and maximum safety, a hallmark of every vehicle from the inventor of the automobile.
      The close-to-production concept vehicle "Generation EQ" marks the launch of an architecture for battery-electric vehicles across all models. Dieter Zetsche:

      "In 2007, the e-smart was a pioneer of electric motoring. We're now flipping the switch. We're ready for the launch of an electric product offensive that will cover all vehicle segments, from the compact to the luxury class."
      Both inside and outside: new light signature for electric cars
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      The peripheral light strip of the "Black Panel" is equally typical of "Generation EQ". Embedded in it are the white, powerful LED headlamps. Viewed from the side, the flowing E-line and beltline form a frame around the base of the mirror camera. Touches of rose gold in the chrome-plated E-line moulding and the spokes of the 21-inch wheels serve as a special eye-catching transition from interior to exterior.
      The rear lamps are of matching design, taking up the contour of the "Black Panel" and surrounded by an LED optical fibre in electric blue, which changes to red when the vehicle is moving and acts as a tail light. The central Mercedes star at the rear end is likewise illuminated in white. Similarly to the front end, the clasp-like light signature on the outside changes to orange as soon as the direction indicator is operated.
      Lighting mood: from welcome scenario to electric blue
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      Adaptive ambience lighting for a feel-good atmosphere
      A special feel-good atmosphere is produced by the adaptive ambience lighting on board "Generation EQ". There are lighting elements in the light strip underneath the windscreen, on the side and middle air vents, seats, door handles and interior door panels, on the centre console and around the Mercedes star in the steering wheel.
      Powerful electric drive: 300 kW total output with a range of up to 500 kilometres
      With two electric motors on the front and rear axles and a battery in the vehicle floor, "Generation EQ" embodies a powerful vehicle concept. The basis for dynamic high-level performance and safety comes courtesy of the electric all-wheel drive with axle-variable torque distribution and a battery installed deep in the vehicle floor between the axles. With a total output of up to 300 kW in the most powerful variant and a maximum torque of up to 700 Newton metres, "Generation EQ" accelerates to 100 km/h in under five seconds. In combination with the intelligent operating strategy from Mercedes-Benz, "Generation EQ" has a range of up to 500 kilometres.
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      Significantly reduced charging times will come with the introduction of fast charging by the Combined Charging System (CCS). This European charging standard allows for fast charging with a far greater capacity than at present. Currently, charging capacities from 50 up to sometimes 150 kW are possible. In the medium to long term, a charging capacity of even up to 300 kW is planned. This would enable sufficient power for 100 locally emission-free kilometres to be recharged within five minutes.
      Driver assistance systems for maximum safety
      It goes without saying that "Generation EQ" also features the latest driver assistance systems from Mercedes-Benz. Using highly accurate maps from our partner HERE, the systems know such things as the precise curve radii as well as the position and size of a roundabout. The vehicle can then automatically adjust the speed and driving dynamics to give the driver even greater comfort and
      relaxation. EQ thus takes a further step on the road to autonomous driving, always under the premise of safety and in compliance with the statutory regulations. There is a special focus on the optimised interplay between the individual features, so- called "sensor fusion", i.e. the intelligent combination of data from different sensors. In the opinion of experts at Mercedes-Benz, this is one of the key requirements on the way to automated driving.
      Extended communication by Car-to-X technology
      But the engineers have gone one step further: for example, "Generation EQ" is equipped with Car-to-X technology and can exchange information with the infrastructure and other vehicles – an ideal basis for a series of new driver assistance features that build on existing systems and thus take a further step in the direction of accident prevention. It is also helpful for the driver to be informed about nearby recharging opportunities. As soon as "Generation EQ" realises that the destination cannot be reached on the available battery charge, it advises the driver of appropriate options on the navigation map.
      3D real-time map display from HERE
      Yet the digital interface can do considerably more: another highlight is the high- detail 3D city view with its trendsetting design. Technically, it is based on the map platform from HERE. This makes it possible, for example when searching for points of interest, for restaurants, shopping opportunities and tourist attractions to be especially highlighted. Other buildings recede elegantly into the background. A further focus in the design of the new HERE maps lies in reduced visual complexity while the vehicle is in motion. This means that the driver can see only those buildings and information that are relevant for navigation. There is an exceptional interplay between cockpit and map, with the buildings on the map reflecting details of the instrument lighting. At the same time, the map display also gives a preview of new features, especially for electric vehicles: the driver is provided with information on charging stations as well as opportunities for inductive charging along the route. The high-detail display also includes an indication of the current energy consumption along the route.
      Intelligent driver assistance
      The focus of the user interface is on optimal driver assistance, such as when the main concern is to make best possible use of the available energy in the batteries in order to achieve the best possible range. The innovative consumption display provides the driver with feedback on their driving style while drawing attention to energy-saving  possibilities.
      Additional driver incentives are conceivable: the wide-screen display can be used to tell the driver that the current range is not just sufficient to reach the desired destination, but would also allow a detour for a spur-of-the-moment visit to friends. In addition, the driver can collect bonus kilometres as a reward for especially efficient use of the traction battery – a functionality similar to the one already familiar from current models. The trick is that the collected bonus kilometres make the occupants aware of the attractions or interesting places they can reach from the current location thanks to their driving style.
    • By William Maley
      The diesel emission scandal has left Volkswagen battered and bruised. In an effort to try and salvage their image and business, the company is going all in on electric vehicles. Before the start of the Paris Motor Show, Volkswagen revealed the I.D. concept. Volkswagen says this concept when it goes into production in 2020 will be as groundbreaking as the Beetle.
      We don't know much about the I.D. except for some details,
      About the size of a Golf Uses Volkswagen's new Modular Electric Drive Kit (MEB) Electric motor produces 125kW Total range between 400 to 600 Kilometers (about 249 to 373 Miles) Not sure if this means the vehicle will feature different battery options Fully autonomous mode for the model coming in 2025 We'll have more details when the I.D. makes its auto show debut tomorrow. 
      Source: Volkswagen
      Press Release is on Page 2


      I.D. – THE WORLD PREMIERE
      Sep 28, 2016
      Paris Motor Show - Mondial de l'Automobile 2016
      World premiere of the I.D. starts the countdown to a new era for Volkswagen Volkswagen plans for the visionary I.D. to hit the road in 2020 An ambassador: the I.D. is the first Volkswagen of a new fleet of electric cars It runs and runs: the I.D. has a range of 400 to 600 kilometres Ready for the future: the I.D. concept car demonstrates a fully automated mode for the year 2025 Key facts – the I.D. in keywords
      1. I.D. is the first Volkswagen in a completely new fleet of highly innovative electric vehicles.
      2. I.D. is immediately recognisable as a zero-emission vehicle thanks to a newly developed design DNA for electric cars.
      3. I.D. is driven by an electric motor with an output of 125 kW and has a range of between 400 and 600 kilometres on a single battery charge.
      4. I.D. has an interior that offers an entirely new spatial experience with the Open Space.
      5. I.D. will be launched as a compact electric car in 2020 parallel to the Golf.
      6. As a concept car, I.D. gives us a first tangible glimpse of fully automated driving – this mode will be offered from 2025 onwards.
      7. I.D. retracts its multifunction steering wheel into the dashpad when in fully automated mode ("I.D. Pilot").
      8. I.D. can receive parcels using a new delivery service, if its owner isn't at home.
      9. I.D. is the first compact Volkswagen based on the Modular Electric Drive Kit (MEB).
      10. Volkswagen has set itself the goal of selling a million electric cars a year by 2025.

      View full article
    • By William Maley
      The diesel emission scandal has left Volkswagen battered and bruised. In an effort to try and salvage their image and business, the company is going all in on electric vehicles. Before the start of the Paris Motor Show, Volkswagen revealed the I.D. concept. Volkswagen says this concept when it goes into production in 2020 will be as groundbreaking as the Beetle.
      We don't know much about the I.D. except for some details,
      About the size of a Golf Uses Volkswagen's new Modular Electric Drive Kit (MEB) Electric motor produces 125kW Total range between 400 to 600 Kilometers (about 249 to 373 Miles) Not sure if this means the vehicle will feature different battery options Fully autonomous mode for the model coming in 2025 We'll have more details when the I.D. makes its auto show debut tomorrow. 
      Source: Volkswagen
      Press Release is on Page 2


      I.D. – THE WORLD PREMIERE
      Sep 28, 2016
      Paris Motor Show - Mondial de l'Automobile 2016
      World premiere of the I.D. starts the countdown to a new era for Volkswagen Volkswagen plans for the visionary I.D. to hit the road in 2020 An ambassador: the I.D. is the first Volkswagen of a new fleet of electric cars It runs and runs: the I.D. has a range of 400 to 600 kilometres Ready for the future: the I.D. concept car demonstrates a fully automated mode for the year 2025 Key facts – the I.D. in keywords
      1. I.D. is the first Volkswagen in a completely new fleet of highly innovative electric vehicles.
      2. I.D. is immediately recognisable as a zero-emission vehicle thanks to a newly developed design DNA for electric cars.
      3. I.D. is driven by an electric motor with an output of 125 kW and has a range of between 400 and 600 kilometres on a single battery charge.
      4. I.D. has an interior that offers an entirely new spatial experience with the Open Space.
      5. I.D. will be launched as a compact electric car in 2020 parallel to the Golf.
      6. As a concept car, I.D. gives us a first tangible glimpse of fully automated driving – this mode will be offered from 2025 onwards.
      7. I.D. retracts its multifunction steering wheel into the dashpad when in fully automated mode ("I.D. Pilot").
      8. I.D. can receive parcels using a new delivery service, if its owner isn't at home.
      9. I.D. is the first compact Volkswagen based on the Modular Electric Drive Kit (MEB).
      10. Volkswagen has set itself the goal of selling a million electric cars a year by 2025.
    • By William Maley
      The Tesla Model S is becoming a problem for the German luxury automakers as its stealing away customers from their flagship sedans. Audi is hoping to turn the tide as they have approved a flagship electric luxury sedan to take on the Model S.
      Autocar reports that the German automaker has given the go-ahead on a new electric sedan. Audi CEO Rupert Stadler describes the sedan “as high up as possible, in the A8 segment”. This model will likely be part of three new EVs joining the Audi lineup by 2020.
      Autocar believes the model will be named the A9 e-tron and utilize the powertrain from the upcoming Q6 e-tron. This means one electric motor for the front axle and two on the rear. A 95 kWh liquid-cooled battery is expected to provide a total range of over 300 miles. One key item that the A9 e-tron will feature is Audi's answer to Tesla's Autopilot system. Audi's system will be classified as 'level four' (vehicle will perform all critical driving functions and monitor the road during a trip).
      Source: Autocar

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