CODA Automotive
CODA Automotive
It has been another long wait for followers of CODA, a China-engineered EV assembled in the U.S. The company said in 2009 it would launch in the fall of 2010. Then in November 2010, it delayed until the second half of 2011. After that, it said it hoped to have cars in dealerships by April 2012 -- only to be delayed again by damaged parts coming in from China. Finally on May 22, CODA delivered its first car to a fleet customer. But retail customers may have a hard time finding one. The car has just four dealers -- all in California. Those who can't wait are advised to hold a place for a future delivery with a $99 reservation.

By Alex Taylor III, senior editor-at-large @FortuneMagazine - Last updated June 06 2012: 9:50 AM ET
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