ATVM funding is in the Senate bill

Aptera Community Aptera Discussions ATVM funding is in the Senate bill

Aptera Community Aptera Discussions ATVM funding is in the Senate bill

  • ATVM funding is in the Senate bill

  • Paul Carlucci

    Member
    July 31, 2022 at 1:57 pm

    SEC. 50142. ADVANCED TECHNOLOGY VEHICLE MANUFACTURING.

    (a) APPROPRIATION.—In addition to amounts otherwise available, there is appropriated to the Secretary for fiscal year 2022, out of any money in the Treasury not otherwise appropriated, $3,000,000,000, to remain available through September 30, 2028, for the costs of providing direct loans under section 136(d) of the Energy Independence and Security Act of 2007 (42 U.S.C. 17013(d)): Provided, That funds appropriated by this section may be used for the costs of providing direct loans for reequipping, expanding, or establishing a manufacturing facility in the United States to produce, or for engineering integration performed in the United States of, advanced technology vehicles described in subparagraph (C), 21 (D), (E), or (F) of section 136(a)(1) of such Act (42 22 U.S.C. 17013(a)(1)) only if such advanced technology vehicles emit, under any possible operational mode or condition, low or zero exhaust emissions of greenhouse gases.

    (b) ADMINISTRATIVE COSTS.—The Secretary shall reserve $25,000,000 of amounts made available under subsection (a) for administrative costs of providing loans as described in subsection (a).

    (c) ELIMINATION OF LOAN PROGRAM CAP.—Section 136(d)(1) of the Energy Independence and Security Act of 2007 (42 U.S.C. 17013(d)(1)) is amended by striking ‘‘a total of not more than $25,000,000,000 in’’.

  • John Malcom

    Member
    July 31, 2022 at 2:09 pm

    Remember, a bill that is not yet finalized or voted on by the Senate Or signed into law

  • Dan Stevens

    Member
    July 31, 2022 at 3:28 pm

    Yep, Tesla needs more government money.

    Aptera was denied for this loan back in 2008(?) which was a big part of their initial demise. The denial appears to have been based primarily on the car being a 3 wheeler and though the program eventually relented and would allow 3 wheel applications, and then Aptera reapplied.

    In 2011, they apparently got approved for 150M but they had to raise 80M themselves as a condition. That never happened.

    Timing was poor.

    I can almost see a similar set of events happening now, except I think Chris and Steve are a bit wiser this time through, much further along in the process and far less likely to get kicked out of the company again, which is a good thing.

    Unfortunately, government programs are notoriously unreliable and difficult to work through. Funding is a slippery thing, may or may not happen for the program, the requests are MANY and large, and they will be competing against Tesla, Ford, GM, Peterbuilt, Kenworth, Daimler, anyone who ever uttered EV or hydrogen, from cars to trucks to charging stations to lithium mining to whatever.

    I’m sure they are cuing up the loan app, but I would not be spending it till the check clears the bank.

    • John Malcom

      Member
      July 31, 2022 at 5:33 pm

      Although forum members will not like to hear the things in your post your thoughts are a worthwhile caution. A lot is depending on a government loan. You certainly are correct about the competition for the loans. The competing company’s have large, long established, lobbying organizations and favorable congressional representation from home districts. They can muster large teams to produce world class proposals. A challenge for Aptera as most of these awards are not made on meritorious submissions.

    • Dennis Swaney

      Member
      July 31, 2022 at 8:18 pm

      It should be restricted to those that produce less than 50,000 vehicles per year.

    • Lane Costilow

      Member
      August 1, 2022 at 6:44 pm

      “kicked out”

      Is that accurate? I got the impression it was voluntary because the Detroit CEO was taking a different direction.

      • Dan Stevens

        Member
        August 1, 2022 at 9:36 pm

        Not sure which is more accurate. Founders tend not to leave a company they founded completely voluntarily, but it does happen. I have seen lots of founders get so sidelined in their company that they leave.

        So, take your pick, but I would say its safe to assume that the Aptera at the time was not the Aptera that was founded. Different directions, different passions, different desires.

        But to your point, I don’t think it was anything like ‘pack up your office and be out by 5’, but at the same time, I doubt it was like ‘no, don’t leave, we need you’. Somewhere in-between I imagine.

        I’m guessing though.

Viewing 1 - 3 of 3 replies

or to reply.

Original Post
0 of 0 posts June 2018
Now