Filed under: Hirings/Firings/Layoffs, Electric
Just over a month ago, Aptera was promising rebirth with Aptera 2.0. The promise will not be kept. Today, the company announced it is closing its doors, effective immediately.
In an email to supporters, president and CEO Paul Wilbur wrote, "We are out of resources." His letter (available in full after the jump) reveals many details about the behind-the-scenes at the EV start-up, including DOE discussions about development of a plug-in Camry-like sedan. The company was talking to the DOE because it was asking for an ATVM (Advance Technology Vehicle Manufacturing) loan. Aptera was recently given a Conditional Commitment Letter for a $150 million loan but could not find the required matching funds to actually collect the money, even though the company was still raising money this summer.
Speaking of money, this news raises a host of questions, including what happens to the people who put down deposits on an Aptera 2e. Also, will some of the intellectual property that the company developed find a new home elsewhere? Wilbur's letter seems to indicate that is a possibility:
We remain confident, even as this chapter closes, that Aptera has contributed tech new technologies to build a future for more efficient driving. Through the dedicated staff at Aptera, our board and suppliers we have touched this future. All that remains is for someone to grab it. We still believe it will happen.
Continue reading Aptera pulls the plug
Aptera pulls the plug originally appeared on Autoblog on Fri, 02 Dec 2011 17:12:00 EST. Please see our terms for use of feeds.
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