MemberJanuary 7, 2022 at 1:54 pm
I have been following your progress for some time. I read your 2021 annual report, and I have a couple of questions:
- Have you released the Beta, Gamma, and Delta builds yet, and if not, when will they be released?
- Have you delivered your first vehicle yet?
- Have you filed your 2022 Annual report yet?
- Do you have a revised Plan of Operation for 2022?
- The following information came from this document: https://www.sec.gov/Archives/edgar/data/1786471/000164460021000040/Aptera2021AnnualReportFinal.pdf
In particular, I am interested in the following:
Plan of Operation
Our 12-month plan is to complete our design and validation for a production intent vehicle that we can scale production on in 2022. Our key planned activities and milestones to achieve our 12-month plan of operation includes the following:
- Release all part designs for Beta builds in Q2 of 2021
- Build our Betas vehicles in Q2 of 2021
- Begin Test and Validation in Q3 of 2021
- Begin improved Gamma design from lessons learned in Q3 and Q4 of 2021
- Sort out basic supply chain for Gamma vehicles in Q3 and Q4 of 2021
- Release Gamma Body in Q3 of 2021
- Start building first Gamma units in Q4 of 2021
- Start building our production strategy and begin test builds with Gamma vehicles in station builds in Q4 of 2021
- Continual validation through till we build the first Delta vehicles towards the end of 2021
- Deliver a vehicle to a customer by the end of the year.
- Then build out our facilities and ramp up production accordingly in 2022
Thank you, I hope to join your growing list of investors!
MemberJanuary 7, 2022 at 2:55 pm
I think you are referring to the 2020 annual report that came out in April 2021, because those goals were targeted for 2021. Their 2021 annual report for the year 2021 has not been released yet. The annual report is made after the year is completed stating their financial standing, what they have accomplished, and their vision for the coming year. It is posted at the end of Aptera’s homepage usually around the month of April.
MemberJanuary 8, 2022 at 7:37 am
I did send this exact request to firstname.lastname@example.org toward the end of December but received no reply. I checked news, but I was obviously confused if you have met these goals. My apologies. I wanted to buy in prior to Dec 31, 2021, but I am being cautious after seeing many (unrelated) tech startups fail. Most notably, a heads-up helmet manufacturer who abused investments terribly and then disappeared.
Do you have a new plan of operation for 2022 that you can / will share, either here, or via email?
MemberJanuary 10, 2022 at 7:16 am
No. They are very busy and usually take about 2 weeks to get back to us. They are constantly flooded by emails from us.
Just throw in a $70 reservation. It’s refundable if they go belly up. In 2011 all reservations were refunded also. If you don’t like it cancel.
MemberJanuary 12, 2022 at 5:57 pm
You’ve touched on a very important part of this.
If you don’t like it cancel. How many already have because the wait is far too long ?
People are impatient these days, very very impatient.
How long will the average Joe wait as aptera ads more middle management and upper management without any real headway ?
I hate to be the negative Nancy of the forums. But I was a reservation holder the first time around and 3 years went by and nothing, here we go again
MemberJanuary 12, 2022 at 7:29 pm
Patrick, I believe they are making a lot of headway especially considering the environment we all are experiencing now. Unless you have some special insight the rest of us don’t have I believe none of us are qualified to make a judgement on the efficacy of Aptera management.
Of course some will become to impatient to wait for their delivery. That is fine we all have freedom of choice supported by Aptera’s commitment to return our reservation money. The patient majority will be rewarded by being able to drive a truely remarkable vehicle that is worth waiting for.
MemberJanuary 13, 2022 at 5:55 am
Patrick, Yup…we are all impatient to get behind the wheel of an Aptera sooner than later. However, if you consider how long it takes multi-billion $ legacy car manufacturers to bring a new concept car to market (3-5 yrs), the idea that two guys could basically start from ground zero and possibly get their hand-built vehicles to customers in less than 3 years is simply mind-boggling! Team Aptera is already moving forward with Beta testing, the most critical stage that will insure our vehicles meet or exceed the highest industry standards of quality, safety, durability and performance. I for one want them to take all the time they need to get it right the first time. As John said, given the unprecedented delays all manufacturers are facing, it certainly behooves all of us to continue to exercise our patience muscles. If Aptera is able to get even one vehicle out of the barn in 2022, I’ll be amazed and very, very happy!
MemberJanuary 14, 2022 at 2:40 pm
It’s not just impatient to get behind the wheel. Today’s society is that of “immediate gratification”
The majority of new vehicle owners are not of the age when you had to wait for anything.
I call them the “press the green button” generation.
I had to wait for film to be developed , wait to get home to call a friend , wait for a letter in the mail.
This generation is that of ( I want it now, or I’ll get it elsewhere )
Sorry again to be a negative Nancy. But if you read the comments on IG when aptera posts anything. They make me look like a big old soft teddy bear.
I noticed at my work, when you get more than 2 engineers in the room to work on something , it becomes a “mines bigger than yours”. And the only things they can agree on are, When to go to lunch , when to go home and how much more they should get paid… before that , nothing gets done expediently.
It’s time to go for good enough and get some cash coming in through sales not hoping for an influx of cash from private investors.
Aptera missed the boat last time by hoping the government would float them money. Now they are hoping people will float them cash , at 7% and rising the current rate of inflation is only going to get worse through 2022. How much disposable income will people commit to a dream ? Vs. buying food and heat for their families.
MemberJanuary 15, 2022 at 8:02 am
Patrick, if average age of this forum’s most frequent contributors/reservation holders is any indication, I’m guessing we have more than average patience compared to 20 somethings. I’d still rather have Aptera take as long as needed to do careful Beta testing and deliver a quality, mostly bug free vehicle than rush it just to meet some arbitrary deadline. A rushed inferior product would foretell Aptera’s early demise than would a 6-12 month delay. BTW, back in the day, we’d likely refer to you as a “Debbie Downer”, rather than “Negative Nancy”! 🙂
MemberJanuary 15, 2022 at 11:29 am
FWIW, I am 60.
I don’t think that this is a matter of rushing “to meet some arbitrary deadline”, but rather, a matter of providing realistic deadlines that they can meet. Anyone can promise the moon to encourage investment, but it is even a rarer company that will provide more conservative timelines, which might suggest a much later release date. That later release date is more likely to scare off the casual investors and the people “buying in” at $100 per pop, but for those willing to wait years for a long-term investment to mature, it is the smarter choice (IMO.)
I do understand that this project is inherently risky for investors, but without risk, there is rarely return. It is the misinformation and non-communication that scared me. A potential investor should not be required to read through “news” that is fluffed and formatted for the public. My request for a new timeline still has not been addressed. I did not even receive a reply that a new timeline was in the works. Instead, I received a condescending suggestion to read the “news” and try to keep up.
I would love to see this come to fruition, or even to provide new technology that could be useful by more conservative companies with designs that would be more readily accepted by the American consumers. I would drive the heck out of what we see now, but I am in the minority. I fear that there will be burnout and eventual disinterest by many of the developers when it has taken several years with no immediate end in sight. Also, when the company walks away from investors by failing to simply reply to email, it triggers red flags for me. They will never know to what extent someone might be willing to invest if they do not communicate on a personal basis. Incidentally, I had already contacted them through the “invest” email address, but I was redirected to the unresponsive “info” email address.
MemberJanuary 16, 2022 at 5:34 pm
Hello Patrick, well I believe you answer your statement in your statement, those people that can’t wait a minute, have in fact already left aptera because you have to wait to get one, the other factor about that group of people is they do not usually have any loyalty, so as soon as the Aptera will become available they will be back if they like the product. personally i prefer to wait for better quality instead of the good enough approach.
I hear you loud and clear about the time to market issue, if you are really rich, you don’t talk about your product until it is ready to sell (which feels fast to market), It is not the case here, Aptera needs us to finance its approach, which is great for some of us who have invested in the company. it also makes it feel long to delivery. Considering the aptera approach to efficiency, I still believe they are the only company doing it to this extent so I believe they will be first to market with this approach.
My 2 cents
MemberJanuary 16, 2022 at 7:35 pm
I am a proponent of early to market with “Good enough” You can have excellent quality with good enough as long as you set your standards for good enough at the right level and in the right places and don’t try to make your product all things to all people.
Back in the day (A long time ago) I worked in an IBM product lab as an engineering product manager. Marketing had a principle they lived by which was “First to market got 75% of the market” This was a time when IBM was a very successful computer manufacturing company, some of which was attributed to that principle. In the market place the reputation of IBM was, “Not the greatest technology, but you could neve go wrong with IBM”
Aptera has high quality standards and will work to make sure their product meets those standards. I hope they are not trying to make the Aptera perfect before it enters the market. I am a consultant for a legacy car manufacturer who, like all others, is trying to make the transition to electric. The team recently completed a competitive analysis of this manufacturers current and planned EV products and others currently in the market and entering the market in the next 18 months. Aptera was a part of that analysis. Aptera’s widow of greatest potential success is 06/22 to 02/23 based on that very rigorous assessment. (This company is a very low level near term competitor to Aptera) After that point there will be strong competitors in the US market with preferred vehicle configurations, competitive pricing, and strong value propositions. one of these competitors is below everybody’s radar at the moment.
The “Good enough” decision can not be made in isolation nor on a personal preference for quality over everything. It must be make in a system context involving many weighted variables and scenarios over a number of different future timeframes.
My two cents.
MemberJanuary 16, 2022 at 8:21 pm
you don’t have a second chance to make a first impression, hopefully good enough is good enough
MemberJanuary 17, 2022 at 5:56 am
I could not agree more, and this is especially pertinent to communication.
MemberJanuary 15, 2022 at 2:39 pm
I emailed Aptera as well and never received a response that was meaningful. I was disappointed, yes, but I did not let it dissuade me. Realize that the buzz Aptera has generated is huge and the amount of inquiries they get is likely huge as well. They are not Facebook, Google or Apple and do not have a large department of employees focused on responding to inquiries. It is likely impractical for them to provide personal responses to all of the emails received and they need to be conscious of the ratio of effort to benefit in the prospect of responding. Many of these emails may well be from people with $1k to invest. Aptera’s means of providing responses includes: Monthly updates on YouTube, email list, FAQ on the website, support from Ambassadors, periodic investor or Ambassador meetings and this forum section of the website. Perhaps you could describe this as an investor “buffet”. There isn’t a “waiter” to provide for your every request here, but you should be able to typically find what you are looking for. Good opportunities don’t generally come served on a silver platter. Aptera has been very open and forthcoming, perhaps more so than any company I recall. They do need to limit the information they share, though, for good reason. The ‘timeline’ question is one that is frequently posed (as everybody has this question) and the answer is readily available, but you need to look.
MemberJanuary 18, 2022 at 12:49 pm
Do not forget that we are dealing here with super hero’s with a super hero mission. Depriving themselves of human comfort solely to finish the job (Steve Fambro) And the time is now and the time is right! That is how I will keep believing in them and have tremendous patience for this gem of genuine future transport.
MemberJanuary 13, 2022 at 5:37 am
My concern is about investing in the company. As will all of my investments, I need to review past performance in order to predict future performance.
MemberJanuary 13, 2022 at 6:14 am
Pete, while that advise is well heeded, one can’t apply it equally to legacy and start-up businesses. Investors in IPOs are by definition taking a bigger risk. My investment decision was based on the belief that Chris and Steve have proven themselves to be successful entrepreneurs in the past and have presented their plans for Aptera in a forthright, open manner and have continued to provide us with frequent updates and progress reports. I can’t think of another example of this level of transparency. You say you’re concerned about investing in the company. If you haven’t already, you may have lost your chance to get in on the pre-IPO level. Your next opportunity may come with the IPO, at which point Aptera will have passed from the speculative to the proof-of-concept stage. Best wishes!
MemberJanuary 14, 2022 at 7:49 am
I realize the “missed opportunity, which was why I sent several emails prior to Dec 31, 2021.
I feel that I was spared by the lack of replies, based upon the first attempt that failed.
I wish you, and all other investors the best of luck. I have chosen to invest $180k elsewhere.
- This reply was modified 6 days, 19 hours ago by Pete Marion. Reason: typo
MemberJanuary 16, 2022 at 7:15 am
I think you’re smart to avoid putting that much into a pre-production startup. I see this type of investment as at best a 50/50 chance of total loss, so I’d only allocate $180k if I were playing with many millions of dollars.
MemberJanuary 15, 2022 at 10:54 am
I’m personally pleased to see skepticism in whether Aptera will be able to deliver or not. I want investors and potential customers involved, monitoring, and hopefully improving the process. No matter what is said or promised, it doesn’t mean a thing until the rubber actually hits the road, and has been rolling along for some minimum period of time. Not until then can your investment and your expectations possibly be met. Personally, a $100 refundable (yeah right) down-payment is nothing more than an expression of interest and support in the project. Personally, I don’t expect delivery for several years, if ever. I love the concept, the potential economy, and the mere possibility of a company that will actually support its customers (again, I’ll believe it when I see it). If I receive a vehicle even close to what has been promised, and it does not set my garage on fire, I will be more than pleased. If not, I still feel good about supporting a worth while effort regardless of the outcome. It also provides gratification in a very small way as it represents a single finger gesture towards the major car manufacturers. If you don’t agree you should probably go back to Ford, Mercedes, Chevy, or Tesla and purchase one of their EVs. But before you do, you might consider that Ford didn’t care whether it’s customers lived or died when it covered up defective Firestone tires on some Ford trucks and SUVs in the late 1990’s. Mercedes, Volkswagen, and many others if not all other Diesel powered vehicles, some sold into 2018, lied for years about emissions…going so far as to intentionally cheat emissions testing. My sister currently owns a Ford EV. For years the battery has been generating problems. She visited multiple dealers in attempts to rectify the issues. The dealers lied and made up false tales including such falsehoods as the vehicle doesn’t store fault codes…duh, they actually do. Not until the extended warranty expired and the fault codes were provided to them by a third party code reader did the story change to the charge controller needs to be replaced. The dealer advised there is no guaranty that replacing just the controller will fix the issues. If not, the entire battery pack must be replaced and the dealer claims they don’t have the tools or training to do this. Tesla has recalled almost a half million of their EVs recently. These are just my personal experiences with the current automobile industry. At least with a new company I have some hope. Hope these days seems to be a rather rare commodity.
MemberJanuary 15, 2022 at 11:35 am
You have forgotten the Ford Pinto and Chevy Pickups with tanks behind the bed sides. Both of these resulted in a (relatively) large number of deaths. It was a matter of what would cost them less, a few wrongful death lawsuits, or massive recalls. There are undoubtedly many more such defects even now, and we will not learn of them until there have been enough events to come to the attention of the public.
MemberJanuary 19, 2022 at 3:02 pm
Aptera actually responded to my snarky comment on IG and said they plan to deliver an aptera to the earliest reservation holders before the end of 2022.
So I have another year to sock away OT money and keep my Volvo on the road.
This should be interesting to watch play out.