AUTO

Aptera Secures $33 Million by Allocating Initial Production Slots for Three-Wheel Solar Vehicle

March 3, 2024

Aptera raised $33 million by offering initial production slots for its three-wheel solar car.
The company garnered orders for 46,000 cars from 16,000 investors.
Aptera also received a $21 million grant from the California Energy Commission, contributing to over $100 million raised in the past two years.

The Aptera electric car is a great comeback story. The company was first founded in 2006 when Aptera founders Chris Anthony and Steve Fambro created their first Aptera solar car. It received a good amount of interest at the time. Aptera’s prototype vehicle even appeared in the first reboot film of Star Trek, released in 2009. The timing wasn’t right for funding mass production, so the project was put on hold for over a decade.

With renewed interest in EVs due to the success of Tesla and other EV makers, Aptera was reborn in 2019 as a solar electric vehicle brand. The company is headquartered in Carlsbad, California.

The Aptera is a two-seat, ultra-efficient vehicle. It is a light, futuristic-looking, aerodynamic solar-powered car. It includes a port for recharging, but with ample sunlight, the car shouldn’t need much recharging. Aptera was one of the first all-electric OEMs to lobby for the acceptance of Tesla’s North American Charging Standard (NACS) by including it in their vehicle.

Aptera’s solar panel-laden exterior will provide power for most daily driving needs through solar power. The company patented a design for two-axis automotive-grade solar panels, an efficient powertrain, and energy-dense battery packs, all ensuring the highest level of eco-friendly mobility currently available.

The Aptera Accelerator Program Raised $33M to Fund Production

Aptera’s Accelerator Program, launched in January 2023, gave interested parties the opportunity to reserve one of Aptera’s first 2,000 “Launch Edition” vehicle reservation slots. The slots were reserved by investing $10,000 or more.

Aptera recently announced the successful completion of the Accelerator Program, raising over $33 million. The $33 million will fund the initial phases of production of Aptera’s three-wheeled solar electric vehicle. The company has 16,000 investors, with orders for 46,000 cars.

The Aptera Accelerator program is now closed to new participants. However, the company is still offering the opportunity to become a shareholder and join its solar mobility movement.

In addition to the accelerator program’s funding, they received funding from the California Energy Commission. The CEC approved a grant of $21 million in March 2023. The company’s release said it has raised over $100 million during the past two years with its unconventional crowdfunding method.