Aptera: First Production All-Electric Aptera 2e Pushed Back to 2010

November 18, 2009 – Vol.14 No.35

Aptera: First Production All-Electric Aptera 2e Pushed Back to 2010.

Aptera has announced that its first vehicle will hit the streets in 2010, not 2009 as previously planned.

Vehicle development progress has been outpacing the rate of fundraising. “Aptera’s production and delivery will be tied directly to funding,” said Paul Wilbur president and CEO. “

“We’re making significant progress every day with product refinements, the completion of engineering and design details, and securing meaningful strategic partnerships,” says Wilbur. “However, we now have to adjust our production schedule to align with financing realities. Properly managing the resources of the company means we’ll complete our first vehicles in 2010, not by the end of 2009 as previously projected.

“Aptera management is being a prudent steward of all resources to ensure future viability for the company and strong returns for its stakeholders. Therefore, we’ll begin volume production vehicles once our current series of private funding has closed or when we secure financing through the Department of Energy’s Advanced Technology Vehicle loan program, whichever comes first,” continued Wilbur.

Co-founder Chris Anthony is stepping aside from day-to-day activities to concentrate on his two other companies, Epic Boats and Flux Power. Steve Fambro, Aptera’s other co-founder is taking a short leave of absence and will re-engage with the company in the new year.

According to Wilbur, “Building and launching a new car company is the challenge of a lifetime – even in the best economic times. At Aptera, this is especially true because we didn’t start with an existing architecture for our vehicle. The 2e was designed from scratch, which is why we’re focused on properly, and painstakingly, creating a foundation that can succeed over time; it’s a chance for everybody working at Aptera to reshape the automotive world for the next generation.”

The aerodynamically-inspired Aptera 2e goes from zero to 60 in under 10 seconds, tops out at 90 mph and has already received nearly 4,000 deposits, which are fully refundable and remain in an escrow account. The company operates two Southern California facilities in north San Diego County, where it designs, engineers and manufactures the vehicles and their composite systems. (11/18/09)

Links:

Aptera Motors
http://www.aptera.com

--- What Makes a Green Car a Green Car?

Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: No