In a recent announcement, Chris Anthony shared some groundbreaking news that is set to propel Aptera into the next phase of its development....
In a recent announcement, Chris Anthony shared some groundbreaking news that is set to propel Aptera into the next phase of its development. Aptera has successfully enlisted US capital to fund their production plan. This crucial financial backing will unlock a significant portion of their $21 million California Competes (CC) Grant and open up additional equipment financing opportunities necessary to complete their factory buildout and commence volume production.
This influx of capital is a game-changer for Aptera, providing the necessary resources to scale up production and bring their innovative vehicles to market. As a result, Aptera is on track to begin customer deliveries in 2025, marking a significant milestone in their journey.
With the new funding secured, Aptera has decided to end their crowdfunding campaign, which has been instrumental in supporting their development thus far. The Regulation A offering will close on June 30th, 2024, making this potentially the last opportunity for the community to invest in Aptera before the company shifts its focus to its production plan and IPO strategy.
History of Aptera
Aptera was founded as Accelerated Composites in 2006 by Steve Fambro, who formerly worked at Illumina. Fambro hired Chris Anthony to be the COO shortly after founding the company. The company name was later changed to Aptera Motors, making reference to the Greek word meaning "wingless flight." In 2006, the company announced it had a three-wheeled car design, classified as a motorcycle, that would get an estimated 330 miles per US gallon (0.71 L/100 km) at 65 mph (105 km/h).
Initial design & rendering
Aptera's introductory press release stated its design would achieve 330 mpg, and included computer renderings of the vehicle. The body shape was estimated to have a drag coefficient of Cd=0.055 to 0.06, and would have sported a 12 horsepower (9 kW) diesel engine and a 24 horsepower (18 kW) permanent magnet DC motor. The design also called for a CVT and ultracapacitors, and sell for under US$20,000.
The automotive X-prize competition was held in 2010 and Aptera's car entered but didn't finish the 50-lap trial, as its car overheated after 30 laps.
Aptera 4-door
By the time of the original company's liquidation in 2011, it had abandoned development of the Aptera 2e and had begun design of a 5-passenger, 4-wheeled EV sedan with a lightweight composite body and a projected 130-mile range. No body and only a few test mules for the car were built.
On August 12, 2011, Aptera Motors started to return deposits from customers and in December 2011, it announced that it was going out of business because it was running out of money. The company voluntarily liquidated in 2011.
2019: relaunch as Aptera Motors Corp.
In 2019, the company, Aptera Motors, was re-formed by the original founders, Chris Anthony and Steve Fambro, as Aptera Motors Corp. It used a crowdfunding campaign to restart development of what aims to be the most efficient road vehicle in production.
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