PVTIME – US solar electric vehicle manufacturer Aptera Motors Corp. has announced that it has raised almost $9 million by selling 4.5 million Class B common shares at $2.00 each. This funding will primarily support Aptera’s manufacturing operations, enabling it to bring its highly anticipated solar electric vehicles to market.
Picture: Aptera Motors
Aptera plans to allocate the total proceeds of approximately $9 million to ongoing product validation and manufacturing preparation. This includes vehicle validation testing, advancing design for manufacturability, production planning, and engaging with production suppliers to meet the scheduled production timeline. Any remaining funds will be used for general corporate purposes.
The company claims to be creating a new vehicle category by integrating solar cells into electric vehicle body structures to deliver practical solar charging. Its model features a 700W solar cell setup, enabling up to 40 miles of off-grid travel per day, with a combined full-charge range of 400 miles. It is currently in the testing and validation phase.
In 2024, Aptera raised $33 million through crowdfunding by selling the first 2,000 vehicle pre-order slots.
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