Aptera just closed a $2M private round

Now our development efforts shift into high gear, driving Aptera closer to production!
(From our Press Release)

San Diego, CA., Feb. 28, 2020 — Aptera Motors, maker of the world’s most efficient passenger vehicles, has closed a $2m round of private financing. This round supplements Aptera’s current crowdfunding efforts at www.WeFunder.com/Aptera, where the company has already raised over 300% of their goal. Together, this fully funds Aptera’s development plan to build and test development vehicles over the next six months. Aptera’s plan is to move from its development vehicles into series production by the end of this year.

Aptera has been working to put together a private round of financing since the beginning of the year. This has resulted in the closing of significant capital to support their development and production engineering efforts through the summer. Once their development vehicles are complete, testing and validation will begin and the knowledge from those efforts will be integrated into Aptera’s final production intent vehicle design.

The principle investment for this round comes from Patrick Quilter, a long-term EV supporter and founder of QSC, a producer of advanced audio electronics for over 50 years. After retiring some years ago, Quilter comes to Aptera not just as a private investor, but with deep engineering knowledge of power electronics. He also has a long career in mid-scale manufacturing, which should provide insight into the production and ramp-up challenges ahead for Aptera. “Pat’s personal experience with EVs, including the GM EV1 and a succession of hybrid and modern EVs, bring enormous value to what Aptera is building here” said Aptera CEO and cofounder Chris Anthony. Patrick Quilter’s history of tech innovation with QSC started over 50 years ago with a passion to improve live stage sound. Through steady effort, QSC has grown into a world leader in high performance audio and visual equipment.

Aptera CEO and cofounder Chris Anthony continued: “We are excited to get started with the work needed to push through our development program and into production late this year. There will be many challenges ahead, but in addition to Pat’s insights, we have an amazing team who are ready for the work.”

Quilter notes “I have always enjoyed the freedom and empowerment of driving my own car on American highways. But we need to radically improve the efficiency of personal transportation if we are to continue using cars without damaging the planet. Converting to clean, efficient electric propulsion is a big step forward. Yet the Aptera shows what is really possible by using 75% less energy than mainstream electric cars with no sacrifice in comfort or performance. This is what the world should be striving for, and I’m very excited to be part of Aptera’s push to make the world a more efficient place!”

About QSC
QSC is a globally recognized leader in the design, engineering and manufacturing of high-performance audio, video and control (AV&C) products including the Q-SYS™ Platform, power amplifiers, loudspeakers, and digital mixers. Uniquely leveraging a broad range of technologies located under one roof, QSC products outperform the sum of their parts by delivering reliable, scalable and flexible solutions for installed, corporate, portable, production and cinema customers worldwide. For more about QSC, visit www.qsc.com

About Aptera Motors
Aptera Motors strives to positively impact the planet by building the world’s most efficient transportation. With advanced aerodynamics, lightweight structures, and an efficient powertrain, our vehicles use less energy by a factor of four than the average electric vehicle. This enables Aptera to travel more than 1,000 miles on a single charge while providing safety, comfort and a fun driving experience. For more about Aptera, visit www.Aptera.us