Nearly six months into its Accelerator crowdfunding program, solar EV startup Aptera is putting a pause on new investments while it files requested paperwork with the Securities and Exchange Commission (SEC). As a result, many of the loyal believers that make up the Aptera community and have helped get the company this far will no longer be able to invest unless they meet certain criteria.
Aptera first launched the Accelerator Program in late January, one week after officially debuting the Launch Edition version of its flagship solar EV. The unique program enables reservation holders to invest in Aptera in exchange for a secured production slot of the first 2,000 solar EVs off the assembly line. In return, that funding empowers the startup to purchase initial production equipment to be paid back through an awarded grant from the California Energy Commission (CEC).
By February, Aptera announced it was extending the program without end until all of the Launch Edition solar EVs were spoken for. We have followed the program’s progress and reported back to you along the way. To date, over 1,110 individuals have committed to investing at least $10,000 each, for a total eclipsing $16 million.
Although over 850 build slots still remain, Aptera shared that it is halting the Accelerator program this weekend, but there is still time to invest.
The Accelerator leaderboard as on June 9 / Credit: Aptera
Aptera will soon only allow accredited people to invest
An email signed by co-founders Chris Anthony and Steve Fambro went out to reservation holders today stating the following:
A lot is happening at Aptera right now and we’re moving swiftly to bring solar mobility to the masses. Through the Accelerator Program, we have surpassed our crowdfunding expectations and over 1,100 trailblazers have joined the effort to accelerate Aptera’s path to production.
To continue our Crowdfunding, the SEC requires us to temporarily pause and file updated documentation. We wanted you to know first that the window for investing in Aptera as a non-accredited investor will be closing soon. We will only continue to accept investments from non-accredited investors here until midnight PDT on Sunday, June 11, 2023.
During this temporary pause, we will still take investments from accredited investors through a Reg D offering at invest.aptera.us. So, if you want to join the future and are an accredited investor, you still can invest during this time.
We’re humbled by the support of so many people who share our commitment to creating a better future for people and our planet.
Aptera was not super specific about what sort of files and documentation needs to be updated with the SEC, but the idea of being funded by common folk believers who want to invest in solar mobility doesn’t appear to be sitting right with Uncle Sam.
Instead, accredited investors will be the only ones allowed to participate in funding the startup following Sunday’s sudden deadline. According to the SEC website, one must fit the following criteria to claim status as an accredited investor:
Financial criteria
Net worth over $1 million, excluding primary residence (individually or with spouse or partner)
Income over $200,000 (individually) or $300,000 (with spouse or partner) in each of the prior two years, and reasonably expects the same for the current year
Professional criteria
Investment professionals in good standing holding the general securities representative license (Series 7), the investment adviser representative license (Series 65), or the private securities offerings representative license (Series 82)
Directors, executive officers, or general partners (GP) of the company selling the securities (or of a GP of that company)
Any “family client” of a “family office” that qualifies as an accredited investor
For investments in a private fund, “knowledgeable employees” of the fund
It will be interesting to see how this all plays out and how Aptera responds to this sudden pause in crowdfunding. As one of the most refreshingly transparent startups in the EV world today, Aptera’s founders have spoken quite openly about the startup’s continuous need for funding in order to reach that holy grail that is scaled solar EV production.
Since the Accelerator program began, there has been a steady and consistent trickle of newcomers joining to invest, so it’s a shame that Aptera will not get to see it through to selling out its first batch of vehicles, at least not to those of us who aren’t millionaires (yet).
It will now be up to the professionals and their checkbooks to see Aptera over the finish line. Remember, there’s still time, though. Non-accredited individuals can still invest until Sunday, and as always, you can still reserve an Aptera of your own without the $10,000 commitment.
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Logo of Aramco, officially the Saudi Arabian Oil Group, Saudi petroleum and natural gas company, seen on the second day of the 24th World Petroleum Congress at the Big 4 Building at Stampede Park, on September 18, 2023, in Calgary, Canada.
Artur Widak | Nurphoto | Getty Images
Saudi Aramco on Tuesday posted a 0.9% jump in third-quarter profit on the back of higher production even as oil prices remained under pressure.
Here are Aramco’s third-quarter 2025 results compared with LSEG consensus estimates:
Adjusted net income: 104.92 billion Saudi riyals ($27.98 billion) vs. 98.47 billion Saudi riyals
Revenue: 418.16 billion vs. 411.26 billion Saudi riyals
“We increased production with minimal incremental cost, and reliably supplied the oil, gas and associated products our customers depend on, driving strong financial performance and quarterly earnings growth,” Aramco CEO Amin Nasser said.
The world’s largest oil company reported a free cash flow of $23.6 billion compared with $22 billion a year earlier. The board also declared the 2025 base dividend of $21.1 billion and performance-linked dividend of $0.2 billion to be paid in the fourth quarter.
The results come as Aramco faces a profit squeeze amid weaker oil prices — down over 6% this year until September — except for a short-lived surge in the second quarter triggered by tensions between Israel and Iran.
Year-to-date, spot prices of the U.S. West Texas Intermediate are down over 16%, data from FactSet showed. Similarly, the global benchmark Brent is down over 12%.
Over the weekend, OPEC+ announced a modest increase in oil production for December and decided to halt further hikes during the first quarter of next year. The cartel members agreed to raise their December production target by 137,000 barrels per day, matching the hike for October and November.
Since April, OPEC+ has raised its output targets by approximately 2.9 million barrels per day but began easing the pace of these increases in October over expectations of a market glut.
Adding to the complexity, new Western sanctions on Russia, a key OPEC+ member, are posing difficulties for the group’s production strategy, as Moscow faces limits in boosting output after the U.S. imposed additional restrictions on the country’s major oil producers Rosneft and Lukoil.
Nasser added that the company’s stake in HUMAIN is expected to further drive innovation and progress its role in the “crucial and rapidly evolving AI sector.”
A $5.7B lawsuit filed in Federal court alleges that Toyota operated what amounts an organized, fraudulent enterprise that intentionally concealed known, catastrophic safety defects associated with their hydrogen fuel cell-powered Toyota Mirai sedans.
Originally passed as part of the Organized Crime Control Act of 1970, the Racketeer Influenced and Corrupt Organizations (RICO) Act is designed to help prosecutors go after people or companies that commit a pattern of crimes as part of an ongoing organization or enterprise — like the Mafia (which doesn’t exist), or large-scale fraud operations at a corporation.
That RICO statute is now at the center of a new case against Toyota. In it, the plaintiff’s attorneys argue that Toyota knowingly engaged in a decade of fraud surrounding the hydrogen fuel cell-powered MIrai sedan that jeopardized public safety and breached the terms of a previous DOJ settlement.
The case, filed by Jason M. Ingber, lead attorney for the plaintiffs in the US District Court for the Central District of California, is a 142-page RICO complaint alleging that Toyota, its financing arm, and its California dealerships coordinated conspired to market and finance HFCEVs that technicians allegedly referred to as, “ticking hydrogen bombs.”
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“This lawsuit isn’t about a simple defect, it’s about organized fraud,” argues Mr. Ingber. “Toyota engineered, financed, and controlled California’s hydrogen network, then used that control to hide safety failures and financial harm to consumers.”
According to the complaint, Toyota and its hydrogen partner, FirstElement Fuel (True Zero), intentionally concealed evidence of:
hydrogen leaks near hot engine components, creating explosion risks
sudden power loss, acceleration, and braking failures leading to collisions and injuries
aggressive financial collection tactics by Toyota Motor Credit Corporation, targeting owners of inoperable vehicles.
The suit further argues that Toyota’s concealment of these facts violates a 2014 Deferred Prosecution Agreement with the US Department of Justice (DOJ), in which the company admitted to concealing safety defects surrounding the highly publicized incidents of unintended-acceleration and agreed to report all (emphasis mine) future safety issues truthfully.
Ingber is seeking treble damages for the class, injunctive relief, and a federal order halting Toyota’s hydrogen enterprise, citing a continuing pattern of mail and wire fraud.
“Toyota built its reputation on trust,” Ingber said, in a statement. “Our case will show how that trust is violated and why consumers deserve accountability now.”
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Solar and wind together accounted for 88% of new US electrical generating capacity added in the first eight months of 2025, according to data just released by the Federal Energy Regulatory Commission (FERC) which was reviewed by the SUN DAY Campaign. In August, solar energy alone provided two-thirds of the new capacity, marking two consecutive years in which solar has led every month among all energy sources. Solar and wind each added more new capacity than natural gas did. Within three years, the share of all renewables in installed capacity may exceed 40%.
Solar was 73% of new generating capacity YTD
In its latest monthly “Energy Infrastructure Update” report (with data through August 31, 2025), FERC says 48 “units” of solar totaling 2,702 megawatts (MW) came online in August, accounting for 66.4% of all new generating capacity added during the month. That represents the second-largest monthly capacity increase by solar in 2025, behind only January when 2,945 MW were added.
The 505 units of utility-scale (>1 MW) solar added during the first eight months of 2025 total 19,093 MW and accounted for 73.4% of the total new capacity placed into service by all sources.
Solar has now been the largest source of new generating capacity added each month for two consecutive years, between September 2023 and August 2025. During that period, total utility-scale solar capacity grew from 91.82 gigawatts (GW) to 156.20 GW. No other energy source added anything close to that amount of new capacity. Wind, for example, expanded by 11.16 GW while natural gas’ net increase was just 4.36 GW.
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Renewables were 88% of new capacity added YTD
Between January and August, new wind has provided 3,775 MW of capacity additions – more than the new capacity provided by natural gas (3,095 MW). Wind thus accounted for 14.5% of all new capacity added during the first eight months of 2025.
For the first eight months of 2025, the combination of solar and wind (plus 4 MW of hydropower and 3 MW of biomass) accounted for 88.0% of new capacity, while natural gas provided just 11.9%. The balance of net capacity additions came from oil (20 MW) and waste heat (17 MW).
Solar + wind are almost 25% of US utility-scale generating capacity
Utility-scale solar’s share of total installed capacity (11.62%) is now almost equal to that of wind (11.82%). If recent growth rates continue, utility-scale solar capacity should equal and probably surpass that of wind in the next “Energy Infrastructure Update” report published by FERC.
Taken together, wind and solar make up 23.44% of the US’s total available installed utility-scale generating capacity.
Moreover, almost 29% of US solar capacity is in the form of small-scale (e.g., rooftop) systems that are not reflected in FERC’s data. Including that additional solar capacity would bring the share provided by solar + wind to more than a quarter of the US total.
With the inclusion of hydropower (7.59%), biomass (1.06%), and geothermal (0.31%), renewables account for a 32.40% share of total US utility-scale generating capacity. If small-scale solar capacity is included, renewables make up more than one-third of total US generating capacity.
Solar is still on track to become the No. 2 source of US generating capacity
FERC reports that net “high probability” net additions of solar between September 2025 and August 2028 total 89,953 MW – an amount almost four times the forecast net “high probability” additions for wind (23,223 MW), the second fastest-growing resource.
FERC also foresees net growth for hydropower (566 MW) and geothermal (92 MW), but a decrease of 126 MW in biomass capacity.
Meanwhile, natural gas capacity is projected to expand by 8,481 MW, while nuclear power is expected to add just 335 MW. In contrast, coal and oil are projected to contract by 23,564 MW and 1,581 MW, respectively.
Taken together, the new “high probability” net capacity additions by all renewable energy sources over the next three years – i.e., the Trump Administration’s remaining time in office – would total 113,708 MW. On the other hand, the installed capacity of fossil fuels and nuclear power combined would shrink by 16,329 MW.
Should FERC’s three-year forecast materialize, by early fall 2028, utility-scale solar would account for 17.1% of installed U.S. generating capacity, more than any other source besides natural gas (40.0%). Further, the capacity of the mix of all utility-scale renewable energy sources would exceed 38%. Including small-scale solar, assuming it retains its 29% share of all solar, could push renewables’ share to over 41%, while natural gas would drop to about 38%.
“Notwithstanding impediments created by the Trump Administration and the Republican-controlled Congress, solar and wind continue to add more generating capacity than fossil fuels and nuclear power,” noted the SUN DAY Campaign’s executive director Ken Bossong. “And FERC foresees renewable energy’s role expanding in the next three years while the shares provided by coal, oil, natural gas, and nuclear all contract.”
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Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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