Coda's LA store is closed, re-opening "soon" as a Tesla shop

Troubled EV car maker Coda has closed its Los Angeles showoom. In a twist that you're welcome to read meaning into, the space in the high-traffic Westfield Century City shopping center will re-open "soon" as a showroom for ... Tesla Motors.

According to the business magazine LA Observed, Los Angeles-based Coda closed the store after laying off much of its staff. The company also is facing court battles from investors including former Treasury Secretary Hank Paulson and Limited Brands CEO Les Wexner, who invested more than $200 million into the fledgling company.

Coda announced its four-door, five-passenger sedan, in the end of 2010, and the first vehicles rolled off the production line in March 2012 It features a Coda-designed 33.8-kWh lithium-ion battery system with 40 percent more usable energy that other electric vehicles in its class, and proprietary battery and thermal management systems for enhanced safety and durability. Coda claims a 120-mile range per full charge across all US weather conditions.