Aptera Motors, a pioneering electric vehicle manufacturer, has secured over $33 million in funding to propel the production of its innovative solar electric vehicle (EV). The company’s latest funding milestone comes as it prepares to launch its “first-of-its-kind solar electric vehicle,” designed to revolutionize sustainable transportation.
The funding boost follows Aptera’s unveiling of the ‘Launch Edition’ of its three-wheeled solar electric car in January 2023. Despite the initial excitement, the company recognized the need for additional capital to commence production. In response, Aptera initiated a crowdfunding campaign, raising more than $2 million in just “the last few days.” Investors contributing over $10,000 have the opportunity to secure one of Aptera’s first 2,000 vehicle reservation slots.
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In a significant development in March 2023, Aptera announced a pre-order agreement for 101 solar-powered electric cars with SustainabilitySooner, valued at $3.35 million. Initially targeting production commencement by the end of 2023, Aptera’s plans received a substantial boost with a $21 million grant from the California Energy Commission (CEC) to support vehicle and component manufacturing operations.
Aptera’s latest funding injection will be utilized for the “initial phases of production.” The company stated that once “production-intent vehicles have been validated, the last step is to raise capital for the sourcing of tooling and equipment for high-volume production.”
Chris McCammon, Aptera’s Community & Content Manager, expressed gratitude for the support, stating, “The Aptera community is full of pioneers, dreamers, and those who challenge the status quo. With the help of our passionate community, we’re building a solar-powered vehicle for the people, by the people.”
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According to Aptera, the ‘Launch Edition’ will boast a 400-mile range and be equipped with 700 watts of solar energy, enabling the vehicle to cover approximately 40 miles per day using solar power.
Chris Anthony, Co-founder and Co-CEO of Aptera, highlighted the company’s commitment to its vision, stating, “With over 46,000 reservation holders, we are dedicated to securing the remaining funds required for scalable, high-volume production of our solar EV.”
