Were Fisker Karmas Launched Too Quickly?

There has been a lot said on the Internet about technical issues with the Fisker Karma, including a recall for a battery problem and software upgrades.

The latest has to do with a Karma bought by Consumer Reports that broke down before the magazine could even start its regular testing procedure. The issue, as explained here, was fixed within 48 hours.

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In Surprise Move, Coda’s Chief Executive Resigns

In a move that surprised many observers of the electric-car industry, Coda Automotive announced Friday that its chief executive, Kevin Czinger, had resigned. The move comes shortly before the public debut of Coda’s electric sedan. According to Coda, Mr. Czinger will be replaced by its board co-chairman, Steven Heller, on an interim basis, pending a search for a chief executive with “deep manufacturing, marketing and sales strengths.”

Mr. Czinger and Mr. Heller are both former Goldman Sachs executives, where Mr. Heller was head of worldwide mergers and acquisitions. That experience undoubtedly helped Coda raise money, especially in its early financing rounds — Henry M. Paulson Jr., the former Treasury secretary and Goldman Sachs chief executive, became an investor — but it may be less applicable to helping a little-known company introduce a new automobile in a crowded market.
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Coda Makes Plans for Battery Plant in Ohio, Pending Federal Loan Approval

Coda Automotive, a California-based electric car company with plans to introduce a sedan late this year, said Tuesday it would build a lithium-ion battery plant in Ohio if it could gain approval of an as-yet unsubmitted Energy Department loan. That’s a big if.

Coda, which last year ended a similar bid for a battery plant in Connecticut after $38 million in federal funding fell through, may have a better chance this time. Last weekend, the Commerce secretary, Gary Locke, toured Coda’s joint-venture battery plant in Tianjin, China, commenting, “International green technology partnerships can produce rapid job growth back home and deliver energy solutions abroad, and Coda’s venture proves it.” Coda has also recently closed on a $58 million funding round, signaling some financial stability. But there are many contenders for the Energy Department loan money. One could read the blog to know more and manage finances better.
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