Aptera Announces Accelerator Program to Kick Off Production Plan

Community-led effort will help us deliver our first vehicles more quickly and make solar mobility a reality for all

Last Friday, we showed you our production vehicle design – the Launch Edition. It represents our team’s commitment to bringing solar mobility to the world with 400 miles of range, ~700 watts of solar cells, and a revolutionary assembly process. Now that you know what we are building, we are moving swiftly to get the Launch design into volume production. 

We have over 40,000 reservations from customers in 112 countries, representing $1.5 billion in potential revenue. We have a world-class manufacturing partner in CPC Group, who has the capabilities to accelerate our production timeline. CPC has estimated they can start building our Bodies in Carbon (BinC) in 6 months. We recently began cutting the first steel blocks to make the molds to produce the parts for the BinC. 

Our 75,000 square foot facility in Carlsbad, CA has been designed to assemble a vehicle every 12 minutes, with a yearly capacity of 10,000 vehicles per shift. Partners including Munro & Associates have been instrumental in helping to design our assembly using LEAN manufacturing tools and simulation. The suppliers for 92% of our vehicle and 98% of our factory equipment have already been selected. We have a robust plan and we are ready to begin executing it quickly. Meet the Aptera Accelerator Program. 

What is it?

Through the Aptera Accelerator Program, the first 2,000 Launch Edition vehicles produced will be prioritized for early deliveries to investors. From now through March 26, 2023, anyone who invests $10,000 or more will be added to our leaderboard.  

Past investors who contribute $10,000+ will have their total amounts (including past investments) added to the investment leaderboard. Investments over $10,000 receive a $100 coupon to waive the vehicle preorder reservation fee and a 5% discount (up to $2,500 value) off the final purchase price of one Aptera vehicle.  

The investor who contributes the most to the Accelerator Program during this time period will receive the first delivery slot in the queue, and the remaining 1,999 slots will be prioritized according to the largest investment amount.  

Customers must take delivery of their vehicles from our Carlsbad, CA location. As part of our Right to Repair philosophy, we will make Aptera parts and repair documentation available for service needs, if any should arise.

How is Raising Money Going? 

We are working on closing our Series B2 round, and we have many great conversations underway with large investors. However, this process takes time. We have been selected for a $21.9 million grant, largely for equipment and machines to produce the Aptera, matched with $26.4 million of other funds, including what we hope to raise from this effort.  

The grant is being formalized now, and nothing is certain until that process is complete, which is expected to be in February or March. Under the grant, Aptera must spend first and then get reimbursed for eligible expenses through the grant up to $21.9 million. 

Why This Program? 

We want to deliver solar mobility to the world as quickly as possible. Our Launch Edition vehicle is only one of many future products we hope to build that will make the world a better place.  

Once funded, we expect it will be 12 months until production of our first vehicle commences. Without funding, we anticipate our timelines will continue to be pushed back. Our community has always been our biggest asset and we’re asking our order holders and other supporters to now help us to accelerate our growth.  

If we can raise $20-50 million to execute on the first phase of our production plan, it will help tremendously. We expect our use of proceeds to include capital expenditures such as equipment and tooling and assisting in completing the requirements for obtaining the grant.  

What about Paradigm Edition Vehicles?  

Paradigm Edition owners can invest under this campaign to receive a top delivery spot, or their vehicles will be delivered in the first year of production, after these first 2,000 Launch Edition vehicles have been delivered. 

How do I Join?  

Investments must be processed through our website: invest.aptera.us to count in this campaign. To invest, go to visit https://invest.aptera.us. For questions, please contact invest@aptera.us. You can view the Aptera Accelerator Program leaderboard at www.aptera.us/leaderboard. We reserve the right to change the promotion details at any time including but not limited to timing, the quantity of vehicles, and minimum investment amount.  

When Does the Accelerator Program Begin and End?

The Aptera Accelerator Program starts on January 27th, 2023, and will go through March 26th, 2023.

Does my Previous Investment Count Toward the Program?  

Yes, but you will need to invest a new minimum of $10,000 on invest.aptera.us to participate in the Accelerator Program. Then, your past investment contribution(s) regardless of the investment platform and your most recent investment to participate in the program will be the amount displayed on the leaderboard. You can continue to make additional investments while the program is still running to qualify for reservation slots 1 through 2,000.  

If I Secure One of the First 2,000 Reservation Slots, Can I Transfer It to Someone Else?

Yes, we will allow you to transfer your reservation slot to another individual.

When Will I See the Sum of All My Investments on the Leaderboard?

Your total investment sum on the Leaderboard will be updated over the course of the next week. Not all investments were made through the same platforms, email addresses, or names. This data is being consolidated as we speak. One way to make sure we have your accurate and updated information is to verify that all of your prior REG A investments have been registered with Computershare. Please see this  FAQ Link for more information.   

Legal Disclaimers

This offering is being made pursuant to Regulation A under the Securities Act and there is a prospectus related to this offering available here. The offering will be made only by means of an offering circular. An offering statement regarding this offering has been filed with the SEC. The SEC has qualified that offering statement which only means that the company may make sales of the securities described by that offering statement. It does not mean that the SEC has approved, passed upon the merits or passed upon the accuracy or completeness of the information in the offering statement. The securities offered by the company are highly speculative. Investing in shares of common stock of the company involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Furthermore, investors must understand that such investment could be illiquid for an indefinite period of time. No public market currently exists for the securities, and if a public market develops following the offering, it may not continue. You may obtain a copy of the Form 1-A offering circular that is part of said offering statement here. You should read the offering circular before making any investment. 

SEC Filings

1-K Filing (2021) 
Annual Report (2021)

Forward-Looking Statements Disclaimer 

The offering materials and this letter may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. These forward-looking statements are based on the beliefs of, assumptions made by, and information currently available to the company’s management.  When used in the offering materials, the words “estimate,” “project,” “believe,” “anticipate,” “intend,” “expect” and similar expressions are intended to identify forward-looking statements, which constitute forward looking statements. These statements reflect management’s current views with respect to future events and are subject to risks and uncertainties that could cause the company’s actual results to differ materially from those contained in the forward-looking statements.  Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.  The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.