Aptera's biggest hurdle has always been it's funding. They have a niche concept and getting backing for that is very difficult. A two seater, with three wheels no less, that is electric and gets sunshine power...I know the solar isn't the main source of power but it's a selling point and it's not selling anyone apparently. They are niche. They have a following of core supporters, but honestly...it's not looking good to get to production.
@@1voluntaryist Their old idea was crowd funding. You can't get enough that way for a project as big as a new car company, as they discovered the hard way.
@@ericwheelhouse4371 Actually, they could… not an automobile therefore not subject to their rules… they were simply choosing to to demonstrate how safe it really is
@@paperklip3 - Not just about safety. Many other things to test to make sure they are not going to end up with a class action lawsuit, NHTSA mandated recall or lack of service support. Not to mention, the first issue, will be front and center on YT.
The company Aptera Motors was established in 2005, although it later went through a liquidation in 2011 before being relaunched by the original founders in 2019. Five years later they still are not in production. Give me a break. In February 2023, Arcimoto announced it was shutting down production at its Eugene factory due to a lack of funding.
Shouldn’t be surprised about the financing challenges. Fossil fuel interests are massive and working hard to delay transition to green products. Media suggests EVs aren’t going to be popular any time soon BUT is that true or an out for U.S. car companies who cannot make the transition profitably because their capital is committed to ICE vehicles. This narrative falls apart if you look at China where EVs are in demand and EV companies are profitable. Sadly denial reigns here in the U.S. and it, along with arrogance and stupidity will be our downfall.
From what I understand, the convertible note has no bearing on production of the first 40,000 cars. From their current production, they know some of the tooling that will be required if they open additional factories. For starts they will need an additional hydraulic press, which has a 18 month lead time. Machining the main die has a 11 month lead time. The convertible note is to deploy additional factories in several other countries, ie europe. It is convertible because they are paying up front for production hardware at alternative locations, and if it fails, that hardware could be sold. However if all goes well they can reduce the amount of time it will take to go from 20k cars per year to 150k cars per year by 1.5 to 2 years.
No, to Mr. Elon Musk; it would surely put Aptera in its demise. Who's watching the hen house, so to speak?. But, I do agree, Aptera vehicles should be on the road. I've even put in an offer to help out in Carsbad, if they will have me/us during our timeshare use week. It may only be 35-70 man hours. The way I look at it, anything to get us quicker to 1,000 vehicles, makes it possible for me to have a solar powered vehicle.
I don’t have $50,000 (the minimum to participate in the note), but I could help with another few thousand dollars. If I hit the lotto jackpot tonight I will write them a check for the entirety myself. Maybe I will hit the lotto.
It's hard to overcome the established companies making it difficult to get supplies and parts as well as the regulations requiring a vast input of capital initially and if you're doing solar electric you're going against the oil companies as well. Just a few people invested in your failure. How many people shorted Tesla? It's hard to do something like that without a big wad of fuck you money
"...as it (Aptera) competes with larger companies..."??? Competes how? No other companies make a self-charging EV (solar charged by onboard PV). Aptera is three times more efficient than Tesla and four times the field, e.g., no competition on efficiency. Why is turning down funding offers a mistake? Do you know more than Chris or Steve? Please explain with DETAILS.
No mention of the $200M they tried through Marathon Capital 2 years ago? I guess we just forget history and look to the future. Makes sense as they lowered the bar to $60M. Looks like that’s not working. Lower the bar again to $15M in new stock at a $14.50 PPS. $4 PPS higher than for the accelerator program.
@@ImpressiveTechView - Also the announcement was done on June 8, 2022 (right on the official Aptera website). So, I cannot find where there is new vision or leadership announced anywhere from then. Since you know the facts as you keep making these videos, I can't wait to see the next one covering with a "deep dive".
yeah hmm。。。 they need people to encourage them. envoke confidence... encourage investors. inform the public of their struggles. promote this revolutionary technology. why did you make this video？what is your motive？
They were always going to go back to crowd funding, ending it was just a trick to create a boost for a last minute rush. Credulous retail investors are being conned out of their money.
Why use footage from Aptera that features employees no longer there let alone the closed facility where solar was supposed to happen? They need far more than sixty million dollars. The Convertible Note is their first attempt to court traditional sources of money and a convertible note is effectively a loan which is paid back in equity at a lower price as defined by the discount rate. In other words its very expensive means to borrow money especially considering if fully subscribed Aptera would be paying US Capital Group $4.2m for doing so. Then comes the up to twelve percent interest per year which could add another fourteen million dollars to the cost and finally the discount rate should it convert to equity and up to twenty percent off. I am going to guess there are two major reasons they are failing here. First real money realizes there is no market for a three wheel two seat vehicle which will cost as much as a model Y. Second is that its very possible the equity conversion is into class b stock which is effectively worthless. Why? Because only Class A has voting rights and Chris and Steve granted themselves each fifteen million shares with another twenty six odd million going to another founder group. That means any equity earned by the note has no voting power. Real money ain't going to touch that. Remember they detailed an additional fifty four million dollars in expenditures needed to reach production of which Aptera can only guarantee eighteen million. The sixteen in equipment financing cannot be guaranteed, the matching funds from California - all twenty million cannot be achieved until they spend a like amount and it still has to go through an approval process plus should you read the grant they no longer can qualify for a lot of it. Aptera needs probably triple what they asked for to reach production and even then they won't have sufficient sales to matter. Their reservations are more based on a far lower priced vehicle than they are selling
You’re talking about the orange guy who said he’s going to squash the EV market? The guy who said windmills kill whales and cause cancer in people (of course he was confusing windmills with wind turbines)? The guy that believes that climate change is a hoax?
My problem with aptera is that they don’t have a functioning prototype. The idea is to build a car that gets energy from the sun, puts it in a battery and goes 40 miles. That car doesn’t exist but they act like it does.
What in the actual delusion are you talking about. I have seen 6 different prototypes. The product and plan for production is there. The problem is the excessive regulations and expensive mandatory tests.
@@ericwheelhouse4371 Like I stated, the idea is to build a solar car, that’s the prototype that I’m interested in seeing. What they have so far is an electric vehicle. It’s like having a prototype of a flying car that doesn’t fly. You can say that you have already designed the wings and tested it on a computer, but in my opinion you don’t really have a functioning prototype until your car does the thing that is at the core of it’s reason for being.
@ericwheelhouse4371 Think about how Aptera has avoided ongoing validation from the start. They park at the beach without measuring kWh for the day. They drive around with visitors and never recharge to demo miles/kWh. They constantly overheat, I think there was no proper cooling. They have never showed charging. The wind tunnel in Italy was a photo stunt, no Cd data. They park at public events and don't move. They use moving on a frozen lake as winter ability. They won't offer sales contracts with delivery penalties. They have missed every delivery promise. They haven't published efficiency degrade for recent changes. They lied about 40 solar miles/day to match avg commute. They are now quietly saying 30 limited to S. CA which is 21 for most of USA. They don't correct anyone that still refers to 40. They took +$100M donations, paid themselves $200K/yr and never gave up equity.
@@artsmith103 - Let's not forget these are from two guys that are pretty much complete strangers that have a checkered past for their previous businesses.
This company is a complete disaster. They are hand laying up a carbon car. Have you any idea how long it takes to make one car? Also 3 wheels? how many formula one cars have 3 wheels?. Just stupid. I had a friend try to make 3 wheel cars once. great on the flat but go up a hill while turning the steering wheel and the stupid thing tipped up and over onto the back left or right quarter. Do not put any money into this disaster.
I wouldnt buy one. I like Tesla's. This does not look safe at all. Its a great concept and niche car for a few but like the dale and others i dont think it will happen. It does look cool.
maybe you could explain the same thing over and over and over to get this to the length you need it.....and explain it again .....
I didn’t mind so much as much interesting non-redundant video snippets. And I watch most videos at 2x speed… so a well-spent 5m 😀
I really want to see this company succeed. They are doing something that can revolutionize transportation more than even Tesla.
@pangae1now
That's possible!
Aptera's biggest hurdle has always been it's funding. They have a niche concept and getting backing for that is very difficult.
A two seater, with three wheels no less, that is electric and gets sunshine power...I know the solar isn't the main source of power but it's a selling point and it's not selling anyone apparently. They are niche. They have a following of core supporters, but honestly...it's not looking good to get to production.
Oh. Yeah,
It's not just slow, it's virtually absent. Going back to crowd funding won't get the relevant amount. If no new idea comes along, they are over.
What is the "old idea"? Please explain.
@@1voluntaryist Their old idea was crowd funding. You can't get enough that way for a project as big as a new car company, as they discovered the hard way.
They need to commence production even at a slower rate, then do an IPO. Enough stalling, already. Let's get the show and the car on the road!
Can’t sell anything made from production till all the tests are done.
@@ericwheelhouse4371
Actually, they could… not an automobile therefore not subject to their rules… they were simply choosing to to demonstrate how safe it really is
@@paperklip3 - Not just about safety. Many other things to test to make sure they are not going to end up with a class action lawsuit, NHTSA mandated recall or lack of service support. Not to mention, the first issue, will be front and center on YT.
They CANNOT start production--they do not have the production frames and NO MONEY to make them. So much for OPs demand!
Not only what's happening with US Capital. What's happening with the Dubai investments?
Hmm 🤔
The company Aptera Motors was established in 2005, although it later went through a liquidation in 2011 before being relaunched by the original founders in 2019. Five years later they still are not in production. Give me a break. In February 2023, Arcimoto announced it was shutting down production at its Eugene factory due to a lack of funding.
Shouldn’t be surprised about the financing challenges. Fossil fuel interests are massive and working hard to delay transition to green products. Media suggests EVs aren’t going to be popular any time soon BUT is that true or an out for U.S. car companies who cannot make the transition profitably because their capital is committed to ICE vehicles. This narrative falls apart if you look at China where EVs are in demand and EV companies are profitable. Sadly denial reigns here in the U.S. and it, along with arrogance and stupidity will be our downfall.
From what I understand, the convertible note has no bearing on production of the first 40,000 cars.
From their current production, they know some of the tooling that will be required if they open additional factories. For starts they will need an additional hydraulic press, which has a 18 month lead time. Machining the main die has a 11 month lead time. The convertible note is to deploy additional factories in several other countries, ie europe. It is convertible because they are paying up front for production hardware at alternative locations, and if it fails, that hardware could be sold. However if all goes well they can reduce the amount of time it will take to go from 20k cars per year to 150k cars per year by 1.5 to 2 years.
They have no current production, they have not produced one vehicle to sell.
The AI narrator in this was distracting
No, to Mr. Elon Musk; it would surely put Aptera in its demise. Who's watching the hen house,
so to speak?.
But, I do agree, Aptera vehicles should be on the road. I've even put in an offer to help out in Carsbad, if they will have me/us during our timeshare use week. It may only be 35-70 man hours. The way I look at it, anything to get us quicker to 1,000 vehicles, makes it possible for me to have a solar powered vehicle.
@ Elon seem to be a different guy now!
What do you think
How is it working there at Aptera for work?
Response to your offer in/from Carlsbad?
Aptera isn’t going to happen people!
I don’t have $50,000 (the minimum to participate in the note), but I could help with another few thousand dollars. If I hit the lotto jackpot tonight I will write them a check for the entirety myself. Maybe I will hit the lotto.
@@CH-es4up Absolutely! If there's anyone needing more financial assistance, it's the CEOs collecting $200K/yr of false promises and failed delivery.
@CH-es4up
Lo!
It's hard to overcome the established companies making it difficult to get supplies and parts as well as the regulations requiring a vast input of capital initially and if you're doing solar electric you're going against the oil companies as well. Just a few people invested in your failure. How many people shorted Tesla? It's hard to do something like that without a big wad of fuck you money
Please explain why it takes so much money to start producing these cars
It's a scam. They don't even have tooling.
Economies of scale
@@r-saintyou sure are dumb aren’t you
The production isn’t the big issue. The regulations and costs for testing are.
I mean supposedly they are using a fraction of what every other automotive startup has used.
"...as it (Aptera) competes with larger companies..."??? Competes how? No other companies make a self-charging EV (solar charged by onboard PV). Aptera is three times more efficient than Tesla and four times the field, e.g., no competition on efficiency.
Why is turning down funding offers a mistake? Do you know more than Chris or Steve? Please explain with DETAILS.
Lightyear makes a self-charging solar-powered EV.
Aptera's efficiency has never been tested.
This is a poorly edited video that should supply more facts, and less fluff and repetition.
No mention of the $200M they tried through Marathon Capital 2 years ago? I guess we just forget history and look to the future. Makes sense as they lowered the bar to $60M. Looks like that’s not working. Lower the bar again to $15M in new stock at a $14.50 PPS. $4 PPS higher than for the accelerator program.
The $200M was during the old Aptera,
This Aptera is a rebounce with new vision and leadership
@@ImpressiveTechView - So the ole Aptera was in 2022? That's news to me. You know better and will provide that evidence. I thank you in advance.
@@ImpressiveTechView UAE also chose to make no investment.
@@artsmith103 - You are correct. If they were, we'd hear about it as the filter for Aptera transparency is only good news. Not the challenges.
@@ImpressiveTechView - Also the announcement was done on June 8, 2022 (right on the official Aptera website). So, I cannot find where there is new vision or leadership announced anywhere from then. Since you know the facts as you keep making these videos, I can't wait to see the next one covering with a "deep dive".
yeah hmm。。。 they need people to encourage them. envoke confidence... encourage investors. inform the public of their struggles. promote this revolutionary technology. why did you make this video？what is your motive？
Appears to be obvious… so sad
I’m going to proudly drive my Aptera in Arizona in 2026
@@paperklip3 - A group is going on a road trip to pick theirs up and drive them across the country this month.
- - Superfan in 2023.
@patrickaubichon
The reality of needing funding!
They were always going to go back to crowd funding, ending it was just a trick to create a boost for a last minute rush. Credulous retail investors are being conned out of their money.
Why use footage from Aptera that features employees no longer there let alone the closed facility where solar was supposed to happen?
They need far more than sixty million dollars. The Convertible Note is their first attempt to court traditional sources of money and a convertible note is effectively a loan which is paid back in equity at a lower price as defined by the discount rate. In other words its very expensive means to borrow money especially considering if fully subscribed Aptera would be paying US Capital Group $4.2m for doing so. Then comes the up to twelve percent interest per year which could add another fourteen million dollars to the cost and finally the discount rate should it convert to equity and up to twenty percent off.
I am going to guess there are two major reasons they are failing here. First real money realizes there is no market for a three wheel two seat vehicle which will cost as much as a model Y. Second is that its very possible the equity conversion is into class b stock which is effectively worthless. Why? Because only Class A has voting rights and Chris and Steve granted themselves each fifteen million shares with another twenty six odd million going to another founder group. That means any equity earned by the note has no voting power. Real money ain't going to touch that.
Remember they detailed an additional fifty four million dollars in expenditures needed to reach production of which Aptera can only guarantee eighteen million. The sixteen in equipment financing cannot be guaranteed, the matching funds from California - all twenty million cannot be achieved until they spend a like amount and it still has to go through an approval process plus should you read the grant they no longer can qualify for a lot of it. Aptera needs probably triple what they asked for to reach production and even then they won't have sufficient sales to matter. Their reservations are more based on a far lower priced vehicle than they are selling
Can you add some sources to your assumptions? How will I know you're correct without letting facts speak for itself?
@fillashthrownout3309 He provided you a lot of guidance, why don't you find your own confirmation?
@@fillashthrownout3309 there are no sources for these assumptions but zerowashu knows that. guesses only
It took months to raise $33 million through the launch edition fund raiser. It could take 6-12 months for 60 million.
they don't have that time.
On point!
Completely different. Accredited investors vs avg fanboys.
The market upswing is a good indicator that the new administration inspires growth again. Aptera should be fine soon enough.
Thanks SteveBueche
You’re talking about the orange guy who said he’s going to squash the EV market? The guy who said windmills kill whales and cause cancer in people (of course he was confusing windmills with wind turbines)? The guy that believes that climate change is a hoax?
Nope trump and the republicans are anti science anti logic - Aptera is doomed
😂😂😂😂😂
The decades-long scam.
My problem with aptera is that they don’t have a functioning prototype. The idea is to build a car that gets energy from the sun, puts it in a battery and goes 40 miles. That car doesn’t exist but they act like it does.
What in the actual delusion are you talking about. I have seen 6 different prototypes. The product and plan for production is there. The problem is the excessive regulations and expensive mandatory tests.
So technically what they have is also a prototype so perhaps you could say “final” prototype. They literally have prototypes though.
@@ericwheelhouse4371 Like I stated, the idea is to build a solar car, that’s the prototype that I’m interested in seeing. What they have so far is an electric vehicle. It’s like having a prototype of a flying car that doesn’t fly. You can say that you have already designed the wings and tested it on a computer, but in my opinion you don’t really have a functioning prototype until your car does the thing that is at the core of it’s reason for being.
@ericwheelhouse4371 Think about how Aptera has avoided ongoing validation from the start. They park at the beach without measuring kWh for the day. They drive around with visitors and never recharge to demo miles/kWh. They constantly overheat, I think there was no proper cooling. They have never showed charging. The wind tunnel in Italy was a photo stunt, no Cd data. They park at public events and don't move. They use moving on a frozen lake as winter ability. They won't offer sales contracts with delivery penalties. They have missed every delivery promise. They haven't published efficiency degrade for recent changes. They lied about 40 solar miles/day to match avg commute. They are now quietly saying 30 limited to S. CA which is 21 for most of USA. They don't correct anyone that still refers to 40. They took +$100M donations, paid themselves $200K/yr and never gave up equity.
@@artsmith103 - Let's not forget these are from two guys that are pretty much complete strangers that have a checkered past for their previous businesses.
I can't imagine why anyone would invest money in this project.
That is why you will always be a loser!
@@gmv0553 that was uncalled for.
@@gmv0553 Typical Aptera fanboi; they always resort to insults.
Aptera Broke = Extremely slow progress with no clear vision of production timeline.
They have a clear vision, the issue is lack of funding which keeps the production timeless dangling
I getting the feeling this whole thing is a fake.
"...feeling..." is not fact, only an emotion. That emotion may be baseless. Educate yourself with research and then your "feelings" will be relevant.
This company is a complete disaster. They are hand laying up a carbon car. Have you any idea how long it takes to make one car? Also 3 wheels? how many formula one cars have 3 wheels?. Just stupid. I had a friend try to make 3 wheel cars once. great on the flat but go up a hill while turning the steering wheel and the stupid thing tipped up and over onto the back left or right quarter. Do not put any money into this disaster.
Avoid the hill😁🤔
The carbon fiber-smc body panels are press molded in a machine not hand laid.
@@skipondowntheroad5833 Build time for each car please ?
Just because you are a loser, doesn't mean I have to be one too!
@@gmv0553 Are you the sad f*%k who can't afford a microphone?
I wouldnt buy one. I like Tesla's. This does not look safe at all. Its a great concept and niche car for a few but like the dale and others i dont think it will happen. It does look cool.
Oh! Watch more of our related videos on this!
Get Elon Musk to fund Aptera, license Tesla software and FSD, add all-weather snow airless tires.
Brother in Christ. No. As someone who owns a Tesla. No
I don't want to support or finance products owned by a goddamn fascist bigot!
@ericwheelhouse4371
Hahaha.
I like the statement.
Brother In Christ.
If Musk thought this sort of vehicle was a good idea the Tesla would have built them by now. But he doesn't, because it isn't.