Aptera Motors is currently doing fine testing its first production-intent solar electric vehicles but has been very candid about its need for more funding to reach bonafide production. Its most recent SEC filing details slower-than-expected investments from convertible notes, and the startup’s co-CEO recently hinted that Aptera might revisit crowdfunding, seeking help from the loyal following that has helped it this far.
Aptera Motors is the solar-electric “engine” that could (and still could). We’ve kept close tabs on the startup over the years and have made a conscious effort to keep you readers informed on its progress, much of which has been promising. Especially over the past 18 months or so.
We consistently applaud Aptera Motors for its transparency and monthly updates, often led by co-CEOs Steve Frambro and Chris Anthony, who continue to fight onward in bringing the second iteration of Aptera to its fullest potential and reach what has now become the holy grail of solar EV development – full-scale production.
Last month, Aptera delivered a significant milestone to the public, showcasing its first-ever production-intent build, complete with genuine components we could one day see in a flagship solar EV on the road. Until this point, crowdfunding led by a loyal fanbase of reservation holders and believers in sustainable technology has gotten Aptera this far.
Last we heard, Aptera had raised over $135 million from over 17,000 investors, which the startup touted as the most successful crowdfunding raise in history. However, the company shared that it would need another $60 million in additional funding to begin low-volume SEV production, now slotted for late 2025.
To achieve this, Aptera shuttered its crowdfunding campaigns and turned to financial group US Capital Global, which has been leading the $60 million sale of convertible notes since July. Based on SEC filings, more prominent investors appear weary of investing in the solar EV startup. Still, Aptera’s co-CEOs continue to push forward regardless but have hinted at other levers to gain cashflow, including a fresh crowdfunding campaign.
Source: Aptera Motors/YouTube
Could Aptera revisit crowdfunding to reach production?
So far, Aptera’s $60 million funding raise has not gone as quickly as planned. When the startup originally announced the partnership with US Capital Global over the summer, executives from the financial group anticipated the raise would take 60 to 90 days.
We are now in November, beyond the 90-day timeline, and per Aptera’s October 21, 2024, filing with the SEC, it had only sold $400,000 of the $60 million in convertible notes. The co-CEOs shared that the minimum investment price through US Capital was $50,000. That is far too much green for the average Aptera crowdfunding participant but not an obscene amount for larger investment firms.
Based on those October figures, financial groups appear hesitant to invest in the startup despite its progress and the potential of its solar EV technology. Whether its on Reddit, Discord, or the Electrek comment section, the Aptera community is still very high on the startup and believes it can succeed and stay on track for mass production in 2026.
Munro and Associates, led by Sandy Munro, signed on as a partner to Aptera Motors in 2020, and the famed automotive enthusiast has made several appearances alongside the startup’s co-founders in addition to routine visits to its headquarters in Carlsbad, California.
Last month, Munro Live shot a video at Aptera HQ where co-founders Steve Fambro and Chris Anthony walked Sandy around the shop and inside and out of the PI-2 Solar EV. From the driver’s seat, Munro peppered Fambro and Anthony with questions about their required funding.
Most of the answers were routine and stuff we’d already heard before, but there was one little juicy tidbit Chris Anthony said that’s noteworthy. We highly recommend watching the full 40-minute video, which we’ve embedded below, but the stuff we’re talking about today starts at around 37 minutes.
Munro asked about funding, and Anthony explained the $60 million raise via convertible notes with US Capital. Per Anthony, that funding would help Aptera get all the necessary production equipment and tooling to begin building initial customer vehicles. Anthony also shared that money would help get Aptera to a run rate of 6,000 solar EVs per year, which are cashflow neutral. Here’s where it gets good. Anthony elaborates:
We think along the way, we may open the crowdfunding again because right now, the minimum investment for the convertible note is $50,000. So, a lot of people have been waiting to invest in Aptera, but they can’t because the minimum is so high.
So Aptera is considering a return to crowdfunding to gain additional funding, but perhaps somewhere down the road. The immediate focus remains on the convertible note with US Capital Global. Anthony went on:
But it’s going well, we’ve made lots of great connections over the last two months and hopefully we’ll continue the raise and be able to start buying some of this bigger equipment like the castings for the rear and stuff like that soon.
If there wasn’t enough riding on the $60 million convertible note with US Capital, it is the best current option to get Aptera the equipment it needs to begin genuine SEV production. However, crowdfunding has already proven quite fruitful for Aptera in the past, and its founders have not lost sight of that option.
As always, we will keep you in the loop on Aptera news as it progresses with more production-intent builds, including a PI-2 with solar panels ahead of more testing. You can reserve an Aptera for $30 off the $100 reservation by clicking here.
As promised, here’s the full video from Munro Live that offers a fantastic look at the PI-2 build so far:
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Portable power station specialist EcoFlow is kicking off its third annual Member’s Festival this month and is offering a unique new rewards program to those who become EcoFlow members. The 2025 EcoFlow Member’s Festival will offer savings of up to 65% for its participating customers, and a portion of those funds will be allocated toward rescue power solutions for communities around the globe through the company’s “Power for All” fund.
EcoFlow remains one of the industry leaders in portable power solutions and continues to trek forward in its vision to power a new tech-driven, eco-conscious future. Per its website:
Our mission from day one is to provide smart and eco-friendly energy solutions for individuals, families, and society at large. We are, were, and will continue to be a reliable and trusted energy companion for users around the world.
To achieve such goals, EcoFlow has continued to expand its portfolio of sustainable energy solutions to its community members, including portable power stations, solar generators, and mountable solar panels. While EcoFlow is doing plenty to support its growing customer base, it has expanded its reach by giving back to disaster-affected communities by helping bolster global disaster response efforts the best way it knows how– with portable power solutions.
Source: EcoFlow
EcoFlow and its members look to provide “Power for All”
Since 2023, EcoFlow has collaborated with organizations worldwide as part of its “Power for All” mission. This initiative aims to ensure access to reliable and timely power to disaster-affected communities across the globe, including rescue agencies, affected hospitals, and shelters, to support rescue and recovery efforts.
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This fund most recently provided aid for communities affected by the recent Los Angeles wildfires, assistance to the Special Forces Charitable Trust (SFCT) in North Carolina following severe hurricanes, and support for non-profits engaged in hurricane preparedness in Florida and the Gulf Coast. Per Jodi Burns, CEO of the Special Forces Charitable Trust:
In the wake of devastating storms in Western North Carolina, reliable power was a critical need for the families we serve. Thanks to EcoFlow’s generous donation of generators, we were able to provide immediate relief, ensuring these families and their communities had access to power when they needed it most. We are so impressed with EcoFlow’s commitment to disaster response through their ‘Power for All’ program. It has made a tangible impact, and we are deeply grateful for their support and partnership in helping these families recover and rebuild.
In 2024, the US experienced 27 weather and climate events, each causing losses exceeding $1 billion, marking the second-highest annual total on record, according to National Centers for Environmental Information. The increasing frequency and severity of natural disasters underscore the critical need for reliable and timely power solutions during emergencies, much like EcoFlow and its members are helping provide through the “Power For All” initiative.
To support new and existing EcoFlow members, the company is celebrating its third annual Member’s Festival throughout April to offer a do-not-miss discount on its products and donate a portion of all sales to the “Power for All” fund to provide rescue power to those in need in the future. Learn how it all works below.
Source: EcoFlow
Save big and give back during the 2025 Member’s Festival
As of April 1st, you can now sign up to become an EcoFlow member to participate in the company’s exclusive 2025 Member Festival.
As a member, you can earn “EcoFlow Power Points” by completing tasks like registration, referrals, and product purchases and tracking your individual efforts toward disaster preparedness and recovery.
Beginning April 4, EcoFlow members will also be able to take advantage of exclusive discounts of up to 65% off select portable power stations, including the DELTA Pro Ultra, DELTA Pro 3, DELTA 2 Max, DELTA 3 Plus, RIVER 3 Plus, and more. However, these sale prices only last through April 25, so you’ll want to move quickly!
Click here to learn more about EcoFlow’s “Power for All” campaign. To register for EcoFlow’s 2025 Member Festival in the US, visit the EcoFlow website. To register as a member in Canada, visit here.
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Tesla is losing another top talent: its long-time head of software, David Lau, has reportedly told co-workers that he is exiting the automaker.
Tesla changed how the entire auto industry looks at software.
Before Tesla, it was an afterthought; user interfaces were rudimentary, and you had to go to a dealership to get a software update on your systems.
When Tesla launched the Model S in 2012, it all changed. Your car would get better through software updates like your phone, the large center display was responsive with a UI that actually made sense and was closer to an iPad experience than a car.
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Tesla also integrated its software into its retail experience, service, and manufacturing.
David Lau deserves a lot of the credit for that.
He joined Tesla in 2012 as a senior manager of firmware engineering and quickly rose through the ranks. By 2014, he was promoted to director of firmware engineering and system integration, and in 2017, he became Vice President of software.
Lau listed the responsibilities of his team on his LinkedIn:
Vehicle Software:
Firmware for the powertrain, traction/stability control, HV electronics, battery management, and body control systems
UI software and underlying Embedded Linux platforms
Navigation and routing
iOS and Android Mobile apps
Distributed Systems:
Server-side software and infrastructure that provides telemetry, diagnostics, over-the-air updates, and configuration/lifecycle management
Data engineering and analytics platforms that power technical and business insights for an increasingly diverse set of customers across the company
Diagnostic tools and fleet management, Manufacturing and Automation:
Automation controls (PLC, robot)
Server-side manufacturing execution systems that power all of Tesla’s production operations
Product Security and Red Team for software, services, and systems across Tesla
Bloomberg reported today that Lau told his team he is leaving Tesla. The report didn’t include reasons for his stepping down.
Electrek’s Take
Twelve years at any company is a great run. At Tesla, it’s heroic. Congrats, David, on a great run. You undoubtedly had a significant impact on Tesla and software advancements in the broader auto industry.
He is another significant loss for Tesla, which has been losing a lot of top talent following a big wave of layoffs around this time last year.
I wonder who will take over. Michael Rizkalla, senior director of software engineering and vehicle firmware, is one of the most senior software engineers after Lau. He has been at Tesla for 7 years, and Tesla likes to promote within rather than hire outsiders.
There are also a lot of senior software execs working on AI at Tesla. Musk has been favoring them lately and he could fold Lau’s responsibilities under them.
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Kia’s electric SUVs are taking over. The EV3 is the best-selling retail EV in the UK this year, giving Kia its strongest sales start since it arrived 34 years ago. And it’s not just in the UK. Kia just had its best first quarter globally since it started selling cars in 1962.
Kia EV3 is the best-selling EV in the UK through March
In March, Kia sold a record nearly 20,000 vehicles in the UK, making it the fourth best-selling brand. It was also the second top-seller of electrified vehicles (EVs, PHEVs, and HEVs), accounting for over 55% of sales.
The EV3 remained the best-selling retail EV in the UK last month. Including the EV6, three-row EV9, and Niro EV, electric vehicles represented 21% of Kia’s UK sales in March.
Kia said the EV3 “started with a bang” in January, darting out as the UK’s most popular EV in retail sales. Through March, Kia’s electric SUV has held on to the crown. With the EV3 rolling out, Kia sold over 7,000 electric cars through March, nearly 50% more than in Q1 2024.
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The EV3 was the best-selling retail EV in the UK in the first quarter and the fourth best-selling EV overall, including commercial vehicles.
Kia EV3 Air 91.48 kWh in Frost Blue (Source: Kia UK)
Starting at £33,005 ($42,500), Kia said it’s the “brand’s most affordable EV yet.” It’s available with two battery packs, 58.3 kWh or 81.48 kWh, good for 430 km (270 miles) and 599 km (375 miles) of WLTP range, respectively.
From left to right: Kia EV6, EV3, and EV9 (Source: Kia UK)
With new EVs on the way, this could be just the start. Kia is launching several new EVs in the UK this year, including the EV4 sedan (and hatchback) and EV5 SUV. It also confirmed that the first PV5 electric vans will be delivered to customers by the end of the year.
Electrek’s Take
Globally, Kia sold a record 772,351 vehicles in the first quarter, its best since it started selling cars in 1962. With the new EV4, the brand’s first electric sedan and hatchback, launching this year, Kia looks to build on its momentum in 2025.
Kia has also made it very clear that it wants to be a global leader in the electric van market with its new Platform Beyond Vehicle (PBV) business, starting with the PV5 later this year.
Earlier today, we learned Kia’s midsize electric SUV, the EV5, is the fourth best-selling EV in Australia through March, outselling every BYD vehicle (at least for now). The EV5 is rolling out to new markets this year, including Canada, the UK, South Korea, and Mexico. However, it will not arrive in the US.
For those in the US, there are still a few Kia EVs to look forward to. Kia is launching the EV4 globally, including in the US, later this year. Although no date has been set, Kia confirmed the EV3 is also coming. It’s expected to arrive in mid-2026.
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