According to a recent post from Aptera Motors co-CEO Steve Fambro, the solar EV startup has received a delivery of bodies in carbon (BinCs) from Italy. According to Fambro, the BinCs will be cleaned up and soon become Aptera’s next three production-intent solar EV builds.
Solar EV startup Aptera Motors continues to push forward toward its holy grail of scaled production and is another step closer in the process. After announcing it would end its crowdfunding campaigns, which garnered $135 million from over $17,000 investors, Aptera announced a partnership with financial group US Capital Global.
US Capital is leading a new investment round that includes up to $60 million in convertible notes of Aptera Motors Corp.
According to US Capital’s Aptera investor presentation, the $60 million will provide the startup with enough cash to build 10-12 validation prototypes, complete crash testing, and then manufacture 10-15 production intent vehicles that will be sold. Aptera has been teasing its production-intent builds for some time now, especially the PI-2, which, according to a company update from March 2024, is expected to feature Aptera’s production components.
In a recent post to X, Aptera CEO Steve Fambro shared a similar update alongside some images seen below.
Aptera on the cusp of production intent builds 2 through 4
Fambro posted the most recent BinC images seen above alongside the following progress update:
Two large boxes arrived from Italy today containing BinCs for PI-2 thru PI-4. Going to be trimmed shortly and then construction will begin!
As you can see in the image on the left, three BinCs have been delivered safely to Aptera’s Carlsbad headquarters and will lay the groundwork for production intent (PI) builds 2, 3, and 4.
This is welcomed progress as Aptera remains on track according to its previously shared timelines. If and when the $60 million convertible note round is successful, Aptera could have enough cash to hit a start of (very limited) production in 2025 before ramping up to 20,000 solar EV builds per year after that.
As is always the case with Aptera, more capital will be required to truly reach its production goals, but this is a welcomed step that moves us closer to taking a spin in a production intent solar EV, and those thousands of loyal investors are getting closer to possibly getting a bonafide production model someday.