Coda Automotive May 1 announced bankruptcy protection. It has been the second US electric car manufacturer heading bankruptcy since the year beginning.
The company's cooperation with Great Wall Motors and Hafei Auto would be influenced.
Coda and Great Wall Motors signed a partnership agreement in April 2012, which would jointly develop all-electric cars. Coda will provide electric-driven systems and Great Wall Motors will provide car bodies. Their products are predicted to come into production and market in 2014.
Hafei Auto earlier signed a contract with Coda to produce 5,000 Saibao electric cars and export to the US in 2012.
Source:
http://www.sinocast.com/readbeatarticle.do?id=93041
