Aptera Motors is Ditching the Crowdfunding Nest and Flying Toward Production
Image Credit: Aptera.
You know, the electric revolution is like watching a toddler learn to walk. It's cute, it's clumsy, but there's a spark of potential there. Aptera Motors is one of those toddlers, stumbling along for years, but now they're claiming to have found their footing. Have they really, though?
This San Diego-based startup has been a rollercoaster of near-misses and comebacks. Remember their Aptera 2 Series in the mid-2000s? It belly flopped, much like a penguin on a skateboard. But they dusted themselves off and came back swinging, this time with a solar electric vehicle (SEV) that promises to be the most efficient EV on the block.
They've already managed to raise a tidy $28 million from a mix of crowdfunding and private investors, which is no small feat in the electric vehicle world. These guys are like the Energizer Bunny of startups, they just keep going and going.
Image Credit: Aptera.
Now, after three years of crowdfunding through a Regulation A offering, they're waving goodbye to the public and cozying up to US Capital, a private financial group. It's a bit like ditching your high school sweetheart for a Wall Street tycoon – a bold move, to say the least.
This isn't their first rodeo with unconventional funding. They launched an Accelerator Program, asking reservation holders to invest a cool $10,000 minimum. Those who ponied up get priority deliveries and a commemorative Launch Edition build. Talk about a golden ticket!
By February 2024, they had filled all 2,000 initial production slots, raising a hefty $34 million. However, Aptera still needs more cash to reach the holy grail of scaled production. Scaling up is like teaching a goldfish to ride a bicycle – it sounds fun, but it’s incredibly challenging.
Image Credit: Aptera.
So, what does this new partnership with US Capital mean for the future of Aptera? Will it be the lifeline that Aptera needs to finally take flight, or will it be just another bump in the road? Well, they're hoping to roll out their Launch Edition vehicles in 2025, and they even have an IPO in their sights.
If you're feeling adventurous and have some spare change lying around, you can still invest in Aptera via crowdfunding until June 30, 2024. Who knows, you might just be investing in the next Tesla. Aptera's journey is a fascinating one, full of ups and downs, twists and turns. It's a testament to the tenacity of its founders and the unwavering belief of its investors. But will this solar-powered dream finally become a reality? I sure hope so, I’m getting one as soon as I convince my Mrs. that solar-powered EVs work. Stay tuned, my friend, because this story is far from over.
