{"id":30518,"date":"2022-08-31T10:59:21","date_gmt":"2022-08-31T14:59:21","guid":{"rendered":"http:\/\/autosector.com\/?p=30518"},"modified":"2022-08-31T10:59:21","modified_gmt":"2022-08-31T14:59:21","slug":"aptera-reopens-investments-1000-mile-range-solar-electric-vehicle-production","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=30518","title":{"rendered":"Aptera reopens investments to bring its 1,000-mile-range solar electric vehicle to production"},"content":{"rendered":"

Aptera has reopened investments to the public as it tries to secure more money to bring its 1,000-mile-range solar electric vehicle to production.<\/p>\n

A lot of people get into electric vehicles for their efficiency, and there\u2019s nothing more efficient than Aptera\u2019s solar electric vehicle (SEV). Thanks to an extremely lightweight, three-wheel design and a drag coefficient (Cd) of only 0.13, the Aptera SEV can achieve 250 miles of range on a fairly small battery pack and 1,000 miles with bigger battery packs.<\/p>\n

While solar on electric vehicles has been limited to countering vampire drain or adding just a few miles of range, Aptera\u2019s electric car is so efficient that, by fitting up to 700 watts of solar power, you can add up to 40 miles of range per day by just parking it outside \u2013\u00a0add in a starting price of just $25,000, and it\u2019s enough to create a lot of hype.<\/p>\n

The prototypes unveiled by Aptera have already impressed many buyers and investors. <\/p>\n

Earlier this year, we reported on Aptera closing a $40 million round of crowdfunding<\/a>,\u00a0and it managed to\u00a0get over 22,000 reservations for the vehicle<\/a>. Aptera asks for a $100 deposit (or $70 if you use\u00a0a referral code<\/a>) to reserve the solar electric car.<\/p>\n

Now the company announced that it is reopening investments<\/a> to get more capital to secure the last push to volume production by next year:<\/p>\n

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It\u2019s official, the\u00a0Aptera Motors investment offering has re-opened\u00a0\u2013 you can now invest in Aptera at $10.50\/share as we continue on our journey to bring solar mobility to life.<\/p>\n<\/blockquote>\n

At $10.50 a share, it\u2019s up from $9.20 during the last round so investors are technically already up, though they have no way of exiting the investment for now.<\/p>\n

This new round would value Aptera at around $700 million, which is a lot for a company that has yet to deliver a vehicle to market, but it has several advanced prototypes, and it has received 8,000 more reservations since the last round.<\/p>\n

Aptera says that \u201cover 30,000 reservations\u201d represent\u00a0\u201cover $1 billion in total pre-order value.\u201d While it does require a deposit, which shows some interest in the vehicle, the deposit is refundable and therefore, those pre-orders are not binding.<\/p>\n

Now the company says that \u201cthe next six months will be focused on supply chain and manufacturing build-out\u201d at its final assembly location in Carlsbad, California. The money already raised is likely going to sustain it until the start of low volume production, but the company is going to need that new round to get it to volume production next year.<\/p>\n

Electrek\u2019s Take<\/h2>\n

Full disclosure, I invested a small amount of money in Aptera. I really like the concept of an ultra-efficient vehicle, and I also like its chances of bringing it to market.<\/p>\n

I am generally super skeptical of crowdfunding efforts for electric vehicles \u2013 even those doing SPAC deals, but I like Aptera\u2019s chances because it\u2019s not a car or a truck it is trying to bring to market. It\u2019s a three-wheel enclosed vehicle, and therefore, it is classified as an \u201dauto-cycle\u201d in most markets.<\/p>\n

It means that it is not subject to all the same strict safety requirements of a car or truck, but you can still drive it with a regular driver\u2019s license in most places.<\/p>\n

This is a massive advantage when it comes to the difficulty and needs for capital to bring the vehicle to production. Not that that is going to be easy, but a lot easier than other efforts from small startups trying to crowdfund full electric cars and trucks.<\/p>\n

As for the form factor, it is certainly not for everyone and it won\u2019t replace most cars. That said, I think a lot of people could have this as their primary commuting vehicle, and that would be a massive efficiency gain for most people. <\/p>\n

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