Aptera raises $40 million for solar electric vehicle production

San Diego-based Solar Electric Vehicle (SEV) start-up – Aptera – has announced that it has got a fresh funding of $40 million which Aptera will look to employ the money as capital for the production of its solar electric vehicle in the later part of 2022.

The official statement of Atera held, “During this historic funding round, over $40 million has been committed in our offering under Regulation A+, and we credit the many individuals and institutions who have taken part for their role as a driving force in the successes we’ve achieved.”

Aptera was recreated in 2019 and it has come up with many prototypes of three wheeled electric vehicles, though none of them were sold in the market. The last design by Aptera was revealed in 2020 and this will undergo the production this year. It’s just that the vehicle will have an updated battery and solar power system.

Aptera holds that the SEV has an extraordinary low 0.13 drag coefficient. The company said that the electric vehicle provides a range of 1000 miles.

An Aptera reservation could cost about $100 and the company had declared that it has more than 22,000 reservations for its SEV. It said, “More than 22,000 people have already reserved an Aptera, representing a potential $800,000,000 in orders.” Also, the company got $4 million funding last year. Aptera’s official website disclosed the complete configuration of the vehicle and the prices range between $25,900 to $50,700.

There are four battery options that are available and they are highlighted by range and not their sizes. – 250 miles, 400 miles, 600 miles and 1,000 miles. The SEV could go 0 to 60 miles per hour in mere 3.5 seconds if fitted with the largest battery system.

The Aptera SEV comes with solar panels on the roof and dash of the body but a customer has the option to get the installed on the hood and rear hatch also. The company says that solar energy can drive the vehicle upto 40 miles every day.