$33 Million Crowdfunding For US Solar EV Startup

• Aptera Motors has raised $33 million in its latest crowdfunded campaign for its sEVs 
• It sold the first 2,000 vehicle reservation slots to those who invested $10,000 or more 
• It aims to use the funds to procure low-volume tooling and the buildout of its maiden production-intent vehicles 

The US-based solar-powered electric vehicles pre-production startup Aptera Motors has raised more than $33 million to fund the initial phases of production for its solar electric vehicle (sEV) that will run on 3 wheels. 

Under its Accelerator Program, launched in January 2023, it sold the first 2,000 vehicle reservation slots to those who invested $10,000 or more into the company's crowdfunding campaign. More than $2 million was raised over the last few days alone. 

The company has so far raised over $100 million over the last 2 years. 

"With over 46,000 reservation holders, we are dedicated to securing the remaining funds required for scalable, high-volume production of our solar EV," said Co-Founder and Co-CEO of Aptera, Chris Anthony. 

Aptera's sEV has a patented design for 2-axis automotive-grade solar panels with the Launch Edition having close to 700 W of solar cells to cover a 400-mile distance in a single charge like any other EV. It can travel up to 40 miles/per day on free power from its integrated solar panels. 

It claims that the car can 'slip through the air' using far less energy than other electric and hybrid vehicles today due to its unique shape that uses only 6 key body components. The sEV uses ultra-lightweight and curved solar panels. 

In October 2022, it had announced Maxeon Solar Technologies as the cell supplier for its solar production program. 

The funds raised through this program will be used to procure low-volume tooling and the buildout of its maiden production-intent vehicles that will be used for testing and validation. According to its website, Aptera aims to start production in 2024. 

Aptera had initially announced these sEVs in 2020, with 180 efficient solar cells integrated into its body (see US Company Launches 'Never Charge' Solar Powered EV).