Electric car maker Aptera brakes, but can't avoid crash
Aptera was considered one of the most interesting electric-car start-ups. The Aptera2, the company's only model, was a forward thinking egg-shaped three-wheeled car that could achieve an 300mgp mgp equivalent on a 120 mile charge. Mainly due to it's highly aerodynamic body shape.
The company is closing due to insufficient financing and funding. Aptera was hoping to raise $150 million to get a federal matching grant from the Department of Energy (DOE). These much needed funds would have made it possible to get a 4-door electric car into production, and available to sell on the market. However, the company was only able to raise about $40 million. This was just not enough to carry Aptera through this horrendous economy.
The company employs only about 30 people. The DOE grants would have made it possible to build a commercially viable 4-door electric-car from parts from the remnants of a former General Motors plant in Moraine, Ohio. The goal was to eventually employ 1,400.