Aptera Raises $33M to Fund First Phase of Solar EV Production

Aptera’s debut product, the Launch Edition vehicle, has a 400-mile range on a single charge.

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Aptera Motors said it successfully completed its Accelerator Program on January 31, raising over $33 million to fund the initial phases of production for the first-of-its-kind solar electric vehicle. The Accelerator Program is a community-led effort that allowed anyone to garner one of Aptera’s first 2,000 vehicle reservation slots by investing $10,000 or more into the company’s crowdfunding campaign.

The program, which was launched in January 2023, continued to raise significant funds throughout the year and gained momentum since the new year, raising over $2 million in the last few days. Each Accelerator slot was ranked by investment amount, with the first spot garnering close to $4 million in total.

Aptera’s commitment to transforming transportation for the future of our planet is evident in its groundbreaking design, utilizing Earth’s natural resources responsibly and covering most daily driving needs completely off the grid through solar power. The company has a patented design for two-axis automotive-grade solar panels, an efficient powertrain, and one of the most energy-dense battery packs, setting new standards for eco-friendly mobility.

Aptera’s debut product, the Launch Edition vehicle, has a 400-mile range on a single charge. Harnessing the power of the sun, the Launch Edition is equipped with approximately 700 watts of solar cells, enabling drivers to cover an additional 40 miles per day purely from solar energy. 

Aptera is not only revolutionizing the way vehicles are built and the energy they use to get from place to place, but also the way companies are funded. Utilizing equity crowdfunding over traditional methods, Aptera has successfully secured over $100 million during the past two years, marking one of the most triumphant crowdfunding campaigns to date. 

Co-founder and Co-CEO of Aptera, Chris Anthony, says, “Thanks to our solar mobility movement, we’re changing how world-shaping ideas come to life. Not just how they are funded, but how communities are built around them to ensure a positive impact on our society and planet.” 

With the $33 million raised through the Accelerator Program, Aptera has secured the capital to fund its initial phases of production, marking a pivotal moment for the company. Funds raised through this program have and will continue to contribute to the procurement of low-volume tooling and the buildout of the company’s first production-intent vehicles which will be used for testing and validation. 

After Aptera’s production-intent vehicles have been validated, the last step is to raise capital for the sourcing of tooling and equipment for high-volume production, which is expected to require 10 times less capital than traditional automakers. 

“When we first launched Aptera as a solar mobility company, we were amazed by the overwhelming support from thousands of prospective Aptera owners,” states Chris Anthony. “With over 46,000 reservation holders, we are dedicated to securing the remaining funds required for scalable, high-volume production of our solar EV.”

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