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Aptera Motors closes its doors, without producing its space-age electric car

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Aptera Motors closed this week, after failing to obtain the $150 government loan it needed to build electric cars.

Aptera 2e stock press
Aptera 2e stock press

Aptera Motors had a dream — it would build a 200 MPG electric car for under $30,000, and take home the Automotive X Prize. The vehicle of choice was the Aptera 2e, a car that looked as much like a Jetsons flying saucer as a true automobile, but the company managed to get the craft certified by the US Department of Energy. Unfortunately, neither the funding nor that Automotive X Prize materialized, and now, after refunding customer deposits and failing to obtain a $150 million loan, the company is shutting its doors for good. In a press release, Aptera President and CEO Paul Wilbur expresses disappointment at coming so close to its goals, and seemingly pitches the company's remaining intellectual property (particularly a lightweight composite material) to would-be buyers going forward.

We remain confident, even as this chapter closes, that Aptera has contributed tech new technologies to build a future for more efficient driving. Through the dedicated staff at Aptera, our board and suppliers, we have touched this future. All that remains is for someone to grab it. We still believe it will happen.

On its website, Aptera thanks its suppliers, depositors and employees for supporting the company over the last five years.