Aptera is developing a solar electric vehicle with 700 W of integrated solar cells, designed to add up to 40 miles of driving per day and deliver up to 400 miles of range on a full charge. (Photo Credit: Aptera Motors)  
Business

Aptera Motors Raises $9 Million For Manufacturing Readiness

This fundraising by the US solar mobility startup will fund vehicle validation and manufacturing readiness as it prepares for production

Anu Bhambhani

  • Aptera Motors has raised close to $9 million in gross proceeds as it advances its manufacturing plans  

  • The proceeds will mainly be used for product validation, manufacturing readiness, supplier engagement, and long-lead tooling ahead of planned production 

  • The funding follows its Nasdaq listing last year and builds on its earlier $33 million crowdfunding in 2024 from the sale of its first 2,000 vehicle reservation slots 

Aptera Motors Corp., the US-based solar mobility company, has raised close to $9 million after selling 4.5 million shares of Class B common Stock, as it seeks capital to support its manufacturing operations.  

The company was offering these shares at a public offering price of $2.00 per share. 

Gross proceeds of approximately $9 million are planned to be invested in ongoing product validation and manufacturing readiness activities. This includes vehicle validation testing, advancement of design-for-manufacturability and production planning efforts, initiation of production supplier engagements, and commencement of long-lead tooling in support of planned start-of-production timing. The remaining will be deployed for general corporate purposes. 

“Accessing the public markets allows us to fund the next phase of execution in a way that would not have been possible prior to our public Nasdaq listing last year. The capital raised meaningfully supports our operating plan as we move through critical validation and manufacturing readiness activities in 2026,” said Aptera’s Co-CEO, Chris Anthony. 

Aptera says it is creating a new vehicle segment that can provide meaningful solar charging by integrating solar cells into the electric vehicle’s (EV) body structure. It is designed with 700 W of integrated solar cells that can drive up to 40 miles per day completely off the grid, delivering 400 miles of range per full charge. The vehicle is currently in the testing and validation phase.  

In 2024, it raised $33 million via crowdfunding, selling the initial 2,000 vehicle reservation slots (see $33 Million Crowdfunding For US Solar EV Startup).