April 14 Press Release

[drivin98]

APTERA’S ALL-ELECTRIC, 200-MPG-PLUS PRE-PRODUCTION VEHICLE REVEALED TODAY

Parts Suppliers, X PRIZE Participation, DOE / Private Funding and Production Projections among Topics Discussed During Press Conference

CARLSBAD, Calif. (April 14, 2010) – Aptera Motors, manufacturer of the all-electric, 200-mpg-plus Aptera 2e, has navigated some financial challenges during the past year, according to President and CEO Paul Wilbur, “but we’ve recently turned a very important corner and we’re on the road to financial stability.”

In a press conference conducted today, Wilbur said, “We are behind our projected launch timing for the 2e – our two-seat, three-wheel vehicle – and the ultimate responsibility is mine. But our team is deeply committed to putting the world’s most efficient vehicle on the road, and despite the tough economy, we’ve recently secured private funding from New Jersey-based NRG Energy. We’re also waiting for news related to our Department of Energy application for a five-year, $184 million loan through the Advanced Technology Vehicles Manufacturing Loan Program.

"We completed the first close of our recent round of funding last month, and one more financing hurdle remains. When it's complete, it will take about 11 months to start our full-volume launch next year."

Aptera’s newest 2e model, which was shown to the public for the first time, is, according the Aptera Chief Engineer Tom Reichenbach, “what consumers can expect as the design-intent vehicle (www.aptera.com for photos). Additionally, nearly 90 percent of the material cost of the 2e will be sourced from American-based suppliers and the vehicle will be assembled by Aptera in the USA."

Overall, 23 strategic suppliers (and Aptera Progressive Insurance Automotive X PRIZE team sponsors) were announced for the 2e, including GE; Watertown, Mass.-based A123 Systems, which supplies the vehicle's phosphate-based lithium ion batteries and management systems; electric motor provider Remy International from Anderson, Ind.; and transmission systems from BorgWarner in Dearborn, Mich. (http://xprize.aptera.com for a full list of suppliers).

Additionally, Wilbur stated Aptera will ultimately employ 2,500 people at its north San Diego County headquarters and other company facilities around the country. Another 10,000 indirect jobs are expected to emerge at component suppliers, vehicle retailers, transportation and other third-party service providers.

"The Aptera was developed completely from a clean slate. It's the ultimate start-up," said Wilbur. "Lots of engineering and dedicated people have created this beautifully-designed vehicle. The objective is to assure that the safety, quality and overall efficiency of our first production vehicle are correct. No compromises. We have to get this right the first time, and we've contracted with the best and brightest in the industry.”

"In the process, Aptera has constructed a sustainable development model for the U.S. auto industry that's based on technological innovation and reduced oil dependence."

When the press conference concluded, the design-intent 2e was rolled onto a transport vehicle and shipped to Michigan where it will compete in the Progressive Insurance Automotive X PRIZE. For the next several months, the 2e, which has reached the fourth phase of the competition, will undergo extensive testing and judging.

"This competition was established to prove the world can have viable 100-mpg, clean-tech vehicles," said Wilbur. "Since we began participating in 2008, it's been exciting to see Aptera's safety and efficiency claims validated by such a credible independent party."

Aptera Motors (www.aptera.com) was founded in 2006 to develop and build the most energy-efficient commuter vehicles on the road, without compromise to safety or comfort. Utilizing streamlined aerodynamic design, lightweight composite structures and unique drive systems, Aptera delivers vehicles that are affordable and efficient. The Southern California company operates a facility in north San Diego County, where it designs, engineers and manufactures the vehicles and their composite systems to create an exceptionally strong, safe, sleek body. For information about Aptera and the Progressive Insurance Automotive X PRIZE, go to (http://xprize.aptera.com).


Photo from X-Prize.aptera.com

[chijayhawker]

It looks like it has become so bloated and fat looking. So much for the sleek looking vehicle it once used to be.

[butter]

God, it looks so bloated. And what's with those clouds?

[dov]

Let's note that this is an artist rendering and not a photo. Lens choice and virtual camera angle as well as bad reformatting (changing aspect ration of image) can all effect how the car looks. How's about we wait for a real photo before assuming the car's been mangled.

Frankly, I'm heartened by their being able to make this deadline and get the car shipped off for the competition. The news about getting more money is excellent as well! Let's see how they do.

[Matthijs]

Here you can get the brochure: http://xprize.aptera.com/_res/Aptera2e_Brochure.pdf

[D Jetson]

Aw hey, what's another year or two?

[KarenRei]

Agreed. The lines are all ruined. The unnaturally flat window bottom, the "blacked out" fake window parts on the front and back of the window, the "boxed" cross section... this is the great improvement that the company blew all its money and its lead on?

Also.... a rendering? Really? At this point in the game?

[Antjel]

The brochure has some diff pic's of course when you're redirected back to Aptera.com you still get the 2009 brouchure.

[evmavin]

The car lines seem to be messed up, there are large hinge lines showing, the door looks lost on it's own and there are new panel lines that really seem to have messed up the look of the vehicle. The wheel pants are quite ugly, it does look more like and american auto though. As ugly as I thought the Leaf was it's starting to grow on me and after seeing these pictures I'm left feeling like its a uninspiring blob. I also see the big EVA hump on the dash- seems bulky and ugly from here. The interior shots should be interesting. One would think they would at least update their site.

[Matthijs]