Solar EV Manufacturer Aptera Just Crowdfunded $33M

The money will cover the initial production of its launch vehicle

Aptera parked
Aptera took a big step towards making this a more regular sight.

There have been a lot of stories to tell as the field of electric vehicles grows, from industry giants expanding their scope to ambitious startups seeking to make their mark on the automotive world. The latter camp has seen its share of both failures and successes, though few manufacturers have as complex a history as that of Aptera. The company has been around for a while, with one unsuccessful launch in the first decade of the current century and a surprising rebirth more recently.

And now, the second act of its rebirth has a second act of its own: the company just announced that its Accelerator Program raised $33 million. That means, essentially, that anyone who contributed $10,000 or more to the automaker’s crowdfunding campaign is guaranteed one of the first 2,000 vehicles the company will manufacture.

“When markets were down, other electric vehicle startups were struggling and the few other solar EV startups that existed disappeared. We knew that couldn’t be our story,” said Aptera’s Community and Content Manager Chris McCammon in a statement. “With the help of our passionate community, we’re building a solar-powered vehicle for the people, by the people.”

It’s not hard to see what attracts people to the automaker. There’s a lot to like about Aptera, from its teardrop-shaped vehicles to its use of solar panels as a compliment to its battery-driven engine. It’s relatively affordable, as EVs go: the launch edition has a list price of $33,200 with a 400-mile range, though the company’s website notes that its most affordable configuration costs just $25,900.

According to Aptera’s announcement, the $33 million will cover “the initial phase of production,” with additional fundraising still required for “tooling and equipment.” That’s another substantial step still to take — but this latest news feels like grounds for optimism.

The InsideHook Newsletter.

News, advice and insights for the most interesting person in the room.