Solar EV firm Aptera obtains USD 33m in community-led fundraise

US solar mobility company Aptera Motors said Friday it has completed a community-led fundraising of USD 33 million (EUR 30m) to finance the initial phases of production for its solar electric vehicle (EV).

The campaign, called Accelerator Programme, was launched in January 2023 and provided people with the opportunity to gain one of Aptera’s first 2,000 vehicle reservation slots by investing USD 10,000 or more. The funds raised will contribute to the procurement of low-volume tooling and the buildout of the company’s first production-intent vehicles, intended for testing and validation.

Aptera explains that its debut product, the Launch Edition vehicle, has a 400-mile (644 km) range on a single charge. It is clad with 700 watts of solar cells, enabling trips of an additional 40 miles per day solely from solar energy.

Chris McCammon, Aptera’s community and content manager, is confident in the company’s story even as “markets were down, other electric vehicle startups were struggling and the few other solar EV startups that existed disappeared.”

Aptera has raised over USD 100 million during the past two years, relying on equity crowdfunding.

(USD 1 = EUR 0.919)

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