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.

Land Rover has created an electric Defender which it will exhibit at the Geneva auto show and set to "go into service in special real world trials".

Developed by the company's Advanced Engineering division, Land Rover wants to use the current model as an experimental vehicle to test a new electric powertrain.

Seven electrified Defenders have been equipped with a 70 kw (94bhp) electric motor with 243 lb ft of torque. Power is sent to all four wheels via a single-speed reduction gearbox and the Defender's existing four-wheel drive system.

The cars also have a 27 kWh lithium-ion battery is good for around 50 miles on a single charge and about eight hours of low-speed off-road running. A portable charger can replenish the battery in ten hours, whilst a fast charger unit cuts this time to four hours.

The battery itself weighs 410kg (903 pounds) and is mounted under the hood. Kerb weight is 100kg more than a basic Defender 110 and ranges from 2055kg to 2162kg depending whether the body style is a pick-up, hard top or station wagon.

Although there are no plans for the all-terrain electric Defender to enter series production, the seven EVs will go into service in specialist real world trials later this year.

Source: Land Rover

 

The Smart ForTwo Electric Drive will be available in UK this spring, priced starting at £12,275 with a £55 per month battery lease (after a Plug-in Grant of £3,993.34).

Based on earlier electric models, the new third-generation ED available in both Coupe and Cabrio versions. The two-seater promises an electric alternative to bigger cars such as the Nissan Leaf.

The 2013 Smart ForTwo Electric Drive is powered by a 55 kW magneto electric motor that accelerates the vehicle from 0 to 62 mph in just 11.5 seconds and reach a top speed of 78 mph (125 km/h).

An optional 22kW on-board charger (available for £2,650) means that buyers can recharge their car in an hour, by connecting to a quick-charging station.

The car comes with an electronic stability programme, air conditioning system, a three-spoke leather sports steering wheel, passenger airbags, electric power steering and 15 inch alloy wheels.

A sale&care package provides customers with added peace of mind, with battery maintenance promise, and if necessary, free battery replacement for up to 10 years.

[alert style="white"] Hi-Res Gallery: Smart ForTwo Electric Drive (pictures) [/alert]

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A production version of the Audi A2 concept has been cancel, which had production scheduled to start in 2015.

Inspired from the old A2's aluminum spaceframe that would have rivalled the BMW i3 had been dropped, the new model was supposed to be sold as a conventional plug-in hybrid and a pure EV.

Yet they say "lessons learnt from the new A2 project" will be implemented in upcoming models.

As a reminder, the Audi A2 had an electric motor develops 116 HP (85 kW) and 199 lb-ft (270 Nm) of torque - promised a 125-mile range from the battery pack after a four-hour recharge.

Audi's decision is yet another proof that the market for pure electric vehicles is likely to be much smaller than predicted.

[alert style="white"] Hi-Res Gallery: Audi A2 Electric Vehicles Concept (11 pictures)[/alert]

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[Source: Autocar]

The BMW i3 Concept Coupe is a two-door version, "stream flow" design wrapping its LifeDrive architecture and Life Module cabin.

The carbon-fibre body's visual impact is largely shaped by the gracefully flowing coupe roof line, that saves weight while adding safety strength.

Measuring 3,964 millimetres in length, 1,768 wide and 1,555 high, the BMW i3 Concept Coupe can be noted for its highly individual proportions.

The rear wheels are driven by an electric motor that produces 170 horsepower and 184 lb-ft and power is sends to the rear wheels via a single-gear transmission.

The motor's energy source is a lithium-ion battery pack in the car's floor,  which sits low to the ground to improve the car's center of gravity for optimal handling.

[alert style="green"] BMW i3 Coupe Concept photos [/alert]

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We've previewed it, and now we can bring you live photos of the 2014 Chevrolet Spark EV has been officially unveiled at the Los Angeles Auto Show.

Chevy is confident it will offer one of the longest ranges in its class, with the capability to accept SAE Combo DC Fast Charging. An onboard charging receptacle accommodates 120- and 240-volt outlets, owners can hit 50 percent charge in 12 minutes and 80 percent in just 20 minutes.

“Spark EV's battery has undergone more than 200 ,000 hours of testing in our global battery systems labs,” said Larry Nitz, executive director of GM's global electrification engineering team. “This testing paved the way to allow our customers to do multiple DC Fast Charges daily to help alleviate range anxiety and improve convenience.”

In the Chevrolet Spark EV engine bay lies an electric motor - good for 130 horsepower and an impressive 400 pound-feet of torque, the car scoots to 60 mph in less than eight seconds.

Inside, the Spark EV has two 7-inch color screens and Chevrolet's MyLink infotainment system.

The compact electric vehicle will be launching initially in California, Oregon, Canada, and South Korea, the MSRP is close to $33,000 - it isn't the cheapest electric vehicles on the market.

[alert style="green"] 2014 Chevrolet Spark EV photos [/alert]

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General Motors offered a ballpark price estimate on its 2014 Chevrolet Spark EV on Tuesday, and the car will have a starting price under $25,000 after the available tax rebates.

Set to debut at the 2012 Los Angeles Auto Show, the new Chevrolet Spark EV features a revised exterior with a Volt -like grille, a discreet EV emblem on the trunk lid and a functional air diffuser.

Inside the small Spark EV, critical vehicle functions are displayed on one of the vehicle’s two reconfigurable, a MyLink infotainment system, a seven-inch color LCD screens, including a confidence gauge that shows the expected driving range based on driving habits and other conditions.

The 2014 Chevrolet Spark EV is powered by a GM-designed coaxial drive unit along with a 20+ kWh lithium-ion battery which motivates an electric motor that develops 130 horsepower and 400 lb-ft (542 Nm) of torque.

GM says those figures are good enough to scoot the EV accelerate from 0-60 mph in less than eight seconds, enabling the Spark EV to reach 80-percent battery charge in just 20 minutes.

"When you engineer a technology-filled, all-electric mini car that goes from zero-to-60 mph in less than eight seconds, customers won't miss the gas," said Mark Reuss, president, General Motors North America.

In addition to California and South Korea, the 2014 Chevrolet Spark EV will also go on sale in Oregon, Canada and other global markets.

[alert style="green"] 2014 Chevrolet Spark EV photos [/alert]

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The launch of the BMW i3 Coupe Concept is presenting at this week's 2012 Los Angeles Auto Show bring boasts a carbon fiber body.

It's called the i3 Coupe Concept, features a carbon fiber body that saves weight while adding safety strength. There's are also revised exterior with a modified front fascia, updated rear end, a revised bumper, new side skirts and restyled doors.

The car lacks B-pillars and features a radical rear window design, the rest f the concept car is swathed in Solar Orange metallic paint.

The BMW i3 Coupe Concept cabin has also been revamped as it incorporates leather / wool seats, thanks to the vehicle's packaging, brushed aluminum accents and light eucalyptus wood trim.

The automaker claims the interior delivers a lounge-style ambiance with the functions as the navigation system as well as the information transfer between the vehicle and an iDrive infotainment system.

Motivation is provided by an electric motor, which produces 125 kW (170 horsepower) and 184 pound feet of torque. Underneath the concept car's floor sits a lithium ion battery, which enables the model to travel up to 160 km (100 miles) on a single charge.

Drivers will get a choice of three modes, including Comfort, Eco Pro and Eco Pro+, with varying performance characteristics.

[alert style="green"] BMW i3 Coupe Concept photos [/alert]

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As the Guangzhou Auto Show opened to journalists today, GM-SAIC has officially unveiled the Sail Springo EV combines the Chevy Spark EV's electric powertrain with the Volt's styling.

The GM Sail Springo EV is the the first joint venture in China and the product of a partnership between GM and China's SAIC Motor Corporation Limited.

The car comes with an electric motor that produces 116 hp (88 kW) and 220 Nm (162 lb-ft) of torque along with 22 kwh lithium-ion battery pack, supplied by GM. The battery pack maximum range is tentatively being quoted at 93 miles with 7 hours to fully re-charge in the standard mode.

On the interior, dashboard teched up with white panels, seat fabric complements the dashboard, a touchscreen display and a digital instrument cluster.

Pricing will most likely be announced at Guangzhou and buyers of the EV can get a 54,000 yuan subsidy from the central government.

[alert style="green"] GM Sail Springo EV photos [/alert]

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Following an initial teaser launched earlier this week, the 2014 Chevrolet Spark EV the electric conversion of Chevy's smallest vehicle sold in the U.S.

Full details on the battery-powered Chevrolet Spark have not yet been released, but we do know that power is provided by an electric motor with 130 hp (100 kW) and 400 lb-ft (542 Nm) of torque. The car can acceleration from 0 to 60 mph comes in just 8 seconds.

Chevrolet has not yet discussed the Spark EV's electric range, expected SAE combo charger with fast charging support that will fill the batteries to an 80 percent level in about 20 minutes.

Check back to this space for more details that are sure to be released following the 2014 Chevrolet Spark EV in Californian dealerships next summer.

[alert style="green"] 2014 Chevrolet Spark EV photos [/alert]

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Before its official unveiling at the 2012 L.A. Auto Show, Fiat has released the first photos of its 500E electric car. The 2013 Fiat 500e also will make an appearance on the American Music Awards this Sunday.

Information apart from the photos showing a slightly modified exterior, a different lower white front fascia, badging just in front of the rear wheels, aero underbody lip and lower side sills.

The Fiat 500e also gained unique five-spoke wheels, which boast narrow openings in order to cheat the wind.

Interior revisions appear to be equally restrained and gets a white and orange contrasting color job. Other changes to the interior include a redesigned gauge cluster and push buttons instead of the regular gear shifter.

The 2013 Fiat 500e will ditch the regular 500's 1.4-liter gasoline engine for an electric motor with 100 hp (75 kW).

Fiat/Chrysler CEO Sergio Marchionne has previously indicated the automaker expects will lose something in the area of $10,000 on each EV it builds.

This is the production version of the Honda Micro Commuter, expected will be tested next year in Japan. The car has been developed to be eligible for new micro vehicle categories which are under consideration for licensing by the Japanese government.

The Honda Micro Commuter is indeed a micro car since it is just 2.5m long, 1.25m wide and 1.45m high. The car is designed to accommodate a driver and two small children in the rear along with other body styles of the Micro Commuter are expected to be developed.

The Honda Micro Commuter is powered by a rear-mounted electric motor matched to a 15 kW lithium-ion battery, has an approximate range of 37 miles (59 km/h) and and maximum speed of 50mph (80 km/h).

The car is also possible to charge the car from Honda's existing hybrid production cars and uses a clip-in tablet computer to provide instrumentation and controls.

[alert style="green"] Honda Micro Commuter photos [/alert]

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A recent report is indicating that BMW is planning to bring a new electric vehicle concept to the 2012 Los Angeles Auto Show. The BMW i4 concept will show up with a sportier version of the i3, we speculated to cost around $50,000 and if it goes in production.

The report suggests the new BMW i4 concept will offer buyers a lower and come with a steeper price tag if it makes production, a more dynamic profile on the road and two fewer doors.

Both the i3 and the i4 will presumably make use of the same carbon to offset the weight of a heavy battery pack. Necessary energy will be drawn from the battery for providing drive to rear wheels through a single-speed gearbox.

Under the hood, which has 168 hp (125 kW) and 184 lb-ft (250 Nm) of torque and BMW claims 0-62 mph performance of under 8 seconds.

The Audi R8 e-tron won't be coming to a dealer near you, being conducted is at the behest of Audi's new R&D chief Wolfgang Dürheimer. There are reportedly a number of concerns, one of them being due to the high cost and poor efficiency of today's batteries.

Audi unveiled the R8 e-tron concept three years ago at the Frankfurt Auto Show, and would be launched on the market by the end of 2012.

According to a report that we received, the Audi R8 e-tron is under review at the request of research and development chief Wolfgang Dürheimer. Worse still, according to sources there's a chance the entire project could be killed.

Audi is now shifting its focus to plug-in hybrid versions, evidenced by plans to produce A1, A3, A4, A6, and Q7 SUV hybrid-electric models. Once again high costs were cited as the likely reason for the project's demise.

[alert style="green"] Audi R8 e-tron photos [/alert]

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Organizers of the Los Angeles Auto Show have confirmed that the 2013 Fiat 500 EV will launch at the show, which opens to the press on November 28 and to the public from November 30.

Fiat has confirmed that the 500 Electric Vehicles will be one of the models revealed at the L.A. Auto Show, but precise technical details are not currently available. The 2013 Fiat 500 EV expected to have a 75-kilowatt (100 horsepower) electric motor powering the front wheels.

Sergio Marchionne, Fiat's outspoken CEO, admitted earlier this year that the electric hatchback built solely for the purpose of meeting California's regulations for zero-emission vehicles.

Auto Review Blog can expect to discover these details at the 2013 Los Angeles Auto Show.

Even Fisker Karma cannot resist the lure of the 2012 SEMA aftermarket show, the company will show its sleek sedan with new looks and a new oil partner.

Fisker said that the "3M" Karma will be applied to the model and changed daily during Sema to help highlight it. Fisker says the film is backed by a factory warranty (when it's installed at a Fisker dealership).

The first design is called Matte White with Gloss Blue stripes pay homage to classic American racing colors, classic is done up in Hot Rod red to honor the American custom-car scene, “October Sun” celebrates the fall with Gloss Burnt Orange and “Riverside” which pays homage to American racing tradition.

A set of 22-inch alloy wheels finished in PermaStar chrome will also be fitted to the Fisker Karma. The company also said that it will use Mobil 1 "American Icon” for its 2.0-liter range-extending generator, 0W-30 Advanced Fuel Economy motor oil.

[alert style="green"] Fisker Karma photos [/alert]

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The Audi F12 is a rolling electric research project with an Audi R8 body, aimed to develop a scalable electric vehicle technology platform.

Completed after three years of work, the Audi F12 e Sport was jointly developed with Bosch and a number of institutes at the RWTH Aachen University. The project team broke the concept down into a dozen work packages, it is described as a major advance for electric mobility that could also be used for future plug-in hybrid vehicles.

“Young, independent free-thinkers worked together with the experts from the Technical Development departments at Audi and Bosch. We enjoyed a constant sharing of our respective knowledge and different work cultures," said Dr. Christian Allmann, one of the project managers.

There are three electric motors.The one in the front is tuned for economy and works at low speeds. The two other electric motors are mounted in the rear wheels and tuned for performance. The unit in the Audi F12 e Sport is a lithium-ion array made up of 200 individual cells, produce a combined output of 204 HP (150 kW) and 550 Nm (406 lb-ft) of torque.

The German Federal Ministry for Education and Research (BMBF) gave €23 million to the program.

[alert style="green"] Audi F12 e Sport photos [/alert]

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The 2013 Scion iQ EV battery-electric vehicle will join car-sharing programs in the United States. The car features the first commercial use of Toyota's new high-performance lithium-ion battery, which boasts a frugal electric power consumption rate of 167.37 Wh per mile.

"Toyota believes battery-electric vehicles have the potential to play a role in future mobility strategies," said Chris Hostetter, group vice president of strategic planning at Toyota Motor Sales, U.S.A., Inc. “Up to now, cost and convenience issues have limited BEV's appeal with a broad consumer market."

Available exclusively in Silver or Super Red, wider rear bumper, black headlamp casings, LED lights instead of regular bulbs, black air inlets, has no front grille and a front charging port.

Interior wise the 2013 Scion iQ EV gets a seven-inch touch screen with navigation, cabin has a black and white color scheme, a leather-wrapped steering wheel, cloth seats will be patterned with an electrical plug motif, unique upholstery, a high-contrast black and white color scheme.

The 2013 Scion iQ EV is powered by high-output lithium-ion batteries, a 47-kilowatt (62 horsepower) electric motor that delivers 120 pound-feet of torque. It enables the model to accelerate from 0-60 mph in 13.4 seconds, top speed for the car comes in at 78 mph. It can be fully recharged on a 240-volt outlet in as little as three hours.

[alert style="green"] 2013 Scion iQ EV photos [/alert]

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General Motors confirmed today that it will build its Cadillac ELR plug-in hybrid luxury coupe at the Detroit-Hamtramck Assembly plant in 2013. GM is investing $35 million to prepare the factory to assemble the new Cadillac ELR.

According to GM North America President Mark Reuss, "The ELR will be in a class by itself, further proof of our commitment to electric vehicles and advanced technology. People will instantly recognize it as a Cadillac by its distinctive, signature look and true-to-concept exterior design."

While the Cadillac ELR is expected to share underpinnings with the Chevrolet Volt, it will likely boast a greater electric-only range and benefit from both higher performance.

The Cadillac ELR is expected to use an updated version of the Volt powertrain and it will run primarily on electricity. On the other hand, a rear wheel-drive layout wit a T-shaped lithium ion battery, an electric drive unit and a four-cylinder engine-generator.

[alert style="green"] Cadillac ELR photos [/alert]

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Nissan Leaf chose CEATEC Japan 2012 to roll out a modified prototype equipped with limited autonomous capabilities. Called the NSC-2015, its is fitted with a remote monitoring system that "recognizes the surrounding environment through use of an all-around view camera and 4th generation (4G) mobile communications."

The idea is the car could drive itself down the street, exit the vehicle and then tell it to park itself with a smartphone application. The car would then search for an open parking spot and park.

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Interestingly, the Nissan Leaf NSC-2015 could drive on a busy public highway, or speed down an autobahn without human interaction. There are also the system's onboard camera also acts as a security system and inform the owner of any suspicious behavior when it's parked.

[alert style="green"] Nissan Leaf photos  [/alert]

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