California-based solar electric vehicle (EV) startup, Aptera Motors, has achieved significant milestones as it progresses towards scaled production of its solar EV in 2024. The company has secured a tier-1 battery supplier and a substantial investment from South Korean battery technology firm Creative Technology & Surprise (CTNS).
Aptera Motors, known for its solar EV endeavors, has been diligently advancing through various development phases, from beta models to the recent introduction of its Launch Edition solar EV. In a recent update, Aptera revealed its collaboration with CTNS, founded in 2017, which specializes in battery technology.
According to a LinkedIn post from CTNS Chief Strategy Officer Junmo Kim, the two companies signed a master supply agreement on December 22. The agreement entails CTNS providing battery production lines for Aptera and serving as a tier-1 supplier for the solar EV’s battery packs. The partnership also involves a substantial investment from CTNS in Aptera, amounting to millions.
During the signing ceremony in Seoul, CTNS CEO Ki-jeong Kwon expressed the significance of the partnership, stating, “I believe that this is an important moment for CTNS to leapfrog to the future unicorn in the global market, and [we] sincerely appreciate Chris Anthony & Aptera Motors for becoming our partner for the journey.”
Batteries play a crucial role in EV production, and securing a tier-1 supplier like CTNS marks a key milestone for Aptera as it progresses through the validation phase of production intent solar EVs. The total value of the contract with CTNS is reported to exceed $15 million.
Aptera Motors Co-founder Chris Anthony expressed his satisfaction with the partnership, stating, “Happy to invite CTNS as an official partner for Aptera Motors and was impressed a lot by the enthusiasm & spirit of the Korean startup.”
As of December 28, 2023, Aptera’s Accelerator program has limited spots remaining, emphasizing the continued interest in the company’s vision. Prospective customers can also reserve an Aptera solar EV with a $100 down payment or $70 using a specific link.
