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Issues of concern
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Issues of concern
updated 2 days, 7 hours ago
35 Members
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42
Replies
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The #1 thing I worry about is the tax credit. It could be the difference between having to quickly abandon the US market in favour of Canada / EU, or (if it gets resolved), being successful in the USA too.
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I am concerned that Aptera might suddenly increase prices when it begins to deliver vehicles.
I created a prioritized list of electric vehicles I would like to purchase. The Aptera is at the top of the list. Some of the alternatives are already being delivered. Although the price of Aptera alternatives occasionally drops (a nod to the drop in Tesla Y pricing), the price of alternatives is generally increasing. Other EV manufacturers have suddenly increased prices when they get close to delivering vehicles. A lot of folks (including fellow Aptera supporters) seem to expect Aptera to increase its prices too.
I don’t have unlimited funds or unlimited patience. I wonder if I’m foolishly passing-up birds-in-hand while I wait for the Aptera.
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Issues that continue to concern me:
1) Numerous deadlines not met. Not too very long ago, Aptera stated that production would begin “late in 2023 or early in 2024.” But the various “validation” timelines now suggest that production cannot begin any earlier than summer 2024. My own personal guesstimate, based on Aptera’s own record of consistently failing to meet deadlines, is that production will not begin before 2025.
2) Climate Control System. This is one of those issues that Aptera and Aptera fans consistently brush aside as something potential buyers do not need to worry about. It’s all well and good that Aptera is located in the temperate California coastal area, but go east over the mountains to the Central and Imperial Valleys and AC becomes a HUGE issue. It was 107 here today on 8 September! I have major doubts regarding the ability of the Aptera climate control system to keep the interior comfortably cool in my local environment. For myself as a potential buyer, Aptera is going to have to prove to me through an actual on-site demonstration that the climate control system will keep me comfortable on those July and August days when outdoor temperatures are consistently above 110 degrees F day after day after day.
3) Poor Market Evaluation. What do I mean by that? I am deeply suspicious that the founders and strategic planners at Aptera have not realistically assessed the market potential of the vehicle. The overall design and appearance are avant garde, to say the least, and the average American does not buy avant garde vehicles. And it’s a two-seater, too small for the American family. I very strongly suspect that actual unit sales (assuming Aptera ever reaches the market) will be too low to recoup the company’s initial capital investment and to make the company profitable. In short, I am concerned that Aptera will quickly go broke.
4) Price. See number 3 above. The actual MSRP will certainly be north of $40,000, probably north of $50,000. Bank on it.
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To my shock, someone at Aptera apparently saw my comment about the climate control system and responded directly via email. The response:
“The production vehicle will have an HVAC system! We are testing our
prototype vehicles in heat extreme conditions to make sure that it will
function as expected for our customers. The windows are split in half,
so the lower part will roll down.”No indication as to whether the HVAC system has yet been designed or whether it is yet another component that requires future “validation testing.” And will they test the HVAC system in “heat extreme conditions,” or just the basic vehicle? Use of the present tense with the issue of testing and the apparent current lack of a “validated” HVAC system suggests to me that they are testing only the basic vehicle. The notation that the windows roll down is utterly laughable to me. How does that help in California’s Imperial Valley when the August temperatures are always 110 plus?!?!? Feeling too warm? Cool down by sticking your head in the oven! Absurd.
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Why don’t you email them back?
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The base colors for aptera are about 12% more likely to get hit due to lower visibility. White cars get hit by other drivers less than any of the base color options for aptera. Other vehicle colors associated with a low accident risk include orange, yellow, and gold. I also worry about batteries forming dendrites when charged below freezing but my plug in Prius battery still seems good as new after 11 years.
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The three base color wraps for the Aptera: the Sol is white, the Noir is black, and the Luna is silver. However for the Launch Edition, it’s color wrap is the same silver as the Luna. Once the Les are built, then the other two base colors will be available and probably the Custom color option also. When I get my LE, I’ll probably have the Luna silver wrap replaced with the Sol white wrap.
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Issues of concern:
1] Decrease in employee count. CFO quit a year ago. I guess they can’t afford another.
2] treading water with no news of a whale investor.
3] All hopes now on Government Loan. Late application. Prior failed application. Parts from all over the world. Not American made parts, only assembly.
4] Not trustworthy. People talk of transparency. How’s that 2024 delivery date looking?
5] Vista plant rental debacle.
6] Delayed reports to SEC. Stalling.
7] The attempt to avoid fast charging smacks of desperation to cut costs, and by the way, how much will an Aptera cost? Does anyone believe the price they gave you?
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Hoping to add some light to your concerns.
Positive moves towards production:
1. APTERA’s positioning to be as lean as possible to attract investment and to keep in a positive cash flow situation.
2. Market reality in the USA at the moment for financial investing in new companies is adverse to risk taking, even so, there may be investors that APTERA may have lined up that are requesting to be hidden at this point.
3. Government loan is not a lock in, but is viewed as favorable due to it being mentioned in a positive light by the head administrator. Original loan application a decade ago only applied to 4 wheeled vehicles. Since then the program has expanded to also include 3 wheelers. Application process (paper work) is complex and takes months to complete. Other than possibly Chinese companies, pretty much every manufacturer uses foreign parts, whether it’s the USA or European manufactures.
4. APTERA is the most open and transparent company I have ever followed in my experience of investing. 2024 is very viable for limited deliveries.
5. Vista plant was secured prior to CPC involvement. Business can and do make mistakes, what matters here is how quickly they have adapted and made the decision to go ahead anyways. CPC is a world leader in manufacturing, and they themselves want to get in the market of mass production of efficient extremely well made bodies. We are truly lucky to have them on board.
6. Most of my friends who own business always weight to the last minute to do any government fillings. Last minute changes are always in play.
7. APTERA is so efficient that the founders felt that at least in the beginning, that it was not necessary to offer level 3 charging. Even a 110 outlet will provide almost 160 mile of overnight charging. Level 2 charging offers 57 miles an hour. The excellent response from APTERA to include level 3 charging when its followers requested it, shows you how quick its co CEOS worked on including it…not many companies can do that. In all my memory, I have never seen a company give an exact price of their vehicle until it is available to the public. Right now it seems that parts and battery costs are actually going down. With UAW striking, it may end up being advantageous that many parts will be foreign made.
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Next report to the SEC is due this Friday 9/29. So your complaint is days early. Go back to ‘Waiting’ a bit longer please. 😁
