Alors que Fisker vit probablement ses derniers mois ou dernières semaines, un autre constructeur américain de voitures “vertes” vient déjà de passer l’arme à gauche ou plus exactement sous Chapter 11.
C’est est donc fini de l’entreprise Coda Holdings Inc et de sa filiale Coda Automotive qui produisait une berline électrique dérivée de l’ancienne Daewoo Nubira. La Coda Sedan avait pourtant réalisé de bons tests, avait été élue “Best Green Vehicle” au San Diego Auto Show et annonçait des performances nettement meilleures que celles de la Nissan Leaf. Le constructeur californien avait pourtant signé un accord de partenariat il y a deux ans avec le chinois Great Wall, puis avec un fonds saoudien (Al-Dhowayan Group) l’an passé, ce la n’aura pas suffi à le sauver de la faillite.
Seule va subsister la division stockage de l’énergie et probablement une unité destinée au SAV et PR quand l’entreprise sortira du cadre de la loi régissant les faillites aux USA c’est à dire dans 45 jours. Une centaine de Coda ont été mises à la route depuis une grosse année environ, autant de futures voitures de collection que l’on s’arrachera peut être dans 15 ou 20 ans ! Fisker, Coda… deux des trois protagonistes nés au moment de la hausse du prix du pétrole et de la crise des subprimes en 2007-2008 viennent de disparaitre, souhaitons une meilleure destinée à Tesla.
Ci dessous le communiqué officiel (en anglais) publié sur ce qui reste du site de Coda Automotive.
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.
Via Coda.
