Laura K. Cowan

Aptera Refunding 2e Electric Car Deposits: Is Our Future EV Dream Car Dead?

by , 08/16/11

Aptera 2e deposits, Aptera financial trouble, Aptera rumors, Aptera, alternative transportation, green transportation, green automotive design, electric vehicle, electric car

Aptera was developing a futuristic 200 mpge electric car that would knock our socks off. But then the company stopped taking deposits last month, blaming a problem with the escrow account in which they were held. And now, Aptera is refunding deposits to prospective owners hoping to scoop up one of these three-wheeled wonders or the planned 2h hybrid, with a memo explaining that production is taking too long for them to hold on to people’s money. That’s not a good sign. But it gets worse.

Aptera 2e deposits, Aptera financial trouble, Aptera rumors, Aptera, alternative transportation, green transportation, green automotive design, electric vehicle, electric car

In a note mailed August 12th, the “Aptera Team” wrote, “… as you know, our path to production has been longer than anticipated, which has complicated our reservation administration to the point that we have decided to return your deposit.” The company once again blamed the reservation system, saying their credit card system “… is designed for transactions to be completed in a six-month window. Since most of Aptera’s deposits have been in reserve for more than six months, maintenance of the account has become problematic for our credit card processor and administratively cumbersome for Aptera.” Could be true.

But what’s really concerning us here is how noncommunicative executives are being about the problems at Aptera, something that could signal much worse trouble under the surface. Company chief marketing officer Marques McCammon was vague last month following the decision to stop taking deposits, deflecting questions about Aptera’s financial situation. “We are under a strict NDA as a part of our DOE Loan application that limits my ability to comment on that at this time,” he said, referring to Aptera’s application for loans under the Department of Energy’s Advanced Technology Vehicle Manufacturing program, which has awarded Tesla and Fisker loans already. Aptera is still waiting to hear about its own loan application, which hinges on the company proving it is a viable concern without the loans. It’s now unclear if that’s possible. Mr. McCammon also said, “We will, however, be making some important announcements in the near future.” We hope against hope that won’t be what we think it is.

+ Aptera

Via Green Car Reports

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3 Comments

  1. NeilAsh January 2, 2012 at 5:36 pm

    Why was this not a runaway success? Simple, because Americans are not as green as they say they are. America *still* consumes far more of everything than just about every other nation, they drive unnecessarily big cars, live in massive houses and eat twice as much as anyone else.
    I’m very disappointed in this news, and I’m sorry to be a cynic, but when it really comes down to brass tacks you guys love your SUVs too much.

  2. Anon150 August 23, 2011 at 3:37 pm

    Actually, at the 9th (not quite the 11th) hour they decided to rework the whole shebang.

    Now, it’s front wheel drive, and apparently required a complete “do-over”.

    With the two main startup guys gone, I predict Aptera is a dead duck.

    Sure would like to get one of the shells, though. I’ve got a GL1800 that would slot right into that tail end…

  3. caeman August 16, 2011 at 1:02 pm

    This is NOT a difficult task. You have a mold or three for the carbon fiber shell bits. You have an electric motor in the rear wheel. We already know 3-wheel roadsters (2 front wheel config) are stable and can be quite sporty (see T-Rex for reference). The battery tech is already present. The process for forming carbon-fiber is a well-known and simple process.

    Why isn’t this thing in mass production already!?

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