Summary
– Aptera announced the end date for its Regulation A crowdfunding on June 30 and is seeking additional funding from US Capital
– The company has raised over $100 million from 17,000 investors over 3 years through crowdfunding
– Aptera’s Launch Edition electric car has a 4.0-second 0-60 mph acceleration, a 42-kwh battery, and a solar system that provides 700 watts of continuous power
– The company has used the Tesla NACS port for charging and announced plans to bring the vehicle to market at scale in 2025
– Aptera has completed the Accelerator Program, but now requires additional capital for production of the Launch Edition vehicles
Article
Aptera has announced the end date for its crowdfunding stage, which will conclude on June 30 as it seeks private capital to move towards high-volume production of its high-efficiency, three-wheel solar EV. The company’s Regulation A crowdfunding has raised over $100 million from more than 17,000 investors over the course of three years. Aptera has also engaged with US Capital for additional funding. Investors who contributed a minimum of $10,000 were given priority for reservations of the first 2,000 initial build slots of the electric car.
The Launch Edition of the Aptera was unveiled in January 2023, boasting a 4.0-second 0-60 mph acceleration, a 42-kwh battery pack providing a range of up to 400 miles, and a solar system capable of producing 700 watts of continuous power for 40 miles of range per day. Priced at $33,200, the company has revealed its use of the Tesla NACS port for charging. Aptera’s crowdfunding efforts have paved the way for engaging with US Capital to secure funding for the production of Launch Edition vehicles, but it has not explicitly stated that funding has been secured.
Aptera had completed an Accelerator Program in February, raising enough funds to support the initial phases of production, totaling around $33 million by the end of January. However, a subsequent update indicated that additional capital is required to commence production of the Launch Edition. The company clarified that the previous claim pertained to “production-intent vehicle builds.” Aptera has also hinted at design changes for efficiency and cost-effectiveness, as it plans to bring the vehicle to market “at scale” in 2025.
Aptera has relied on partnerships with CPC in Italy for its carbon-fiber body, chassis, and suspension components, EVE Energy for cylindrical NMC cells in a 2170 format, and CTNS in South Korea for battery modules. The company is focused on securing funding for the production of Launch Edition vehicles and moving towards high-volume production in the future. As the crowdfunding stage comes to a close, Aptera’s next steps involve working with US Capital to obtain the necessary capital for bringing the high-efficiency solar EV to market at scale by 2025. With ongoing updates and a commitment to innovation, Aptera is poised to make waves in the electric vehicle market.
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