The rumors have been circulating for months, and now it’s a sad reality. Futuristic EV maker Aptera has announced it will close its doors before ever releasing its spaceship-like 3-wheeled electric 2e to the public. Paul Wilbur, President and CEO of Aptera Motors, announced the news and said that Aptera had simply run out of resources. The problem was that the company failed to match the Department of Energy loan funds that would have provided them with $150 million to develop a 190-mpg mid-sized sedan. So, it would appear the plans for Aptera’s two-seater electric car were already unfeasible.

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That change in plans may have been what caused their financing to dry up. Aptera was convinced they could develop a 206-mpg vehicle, but if it didn’t look anything like their originally planned three-wheeler 2e, investors seemed not to be interested. The company had already exhausted their options in developing the 2e, however, so it was the end of the road. Aptera is optimistic that another company will be able to make use of their technology, but it’s unclear when or how that would happen.

+ Aptera

Via AutoGuide