Aptera sells all 2,000 production slots of its Launch Edition solar EV, raising nearly $34 million
We are just over one year removed from the initial launch of solar EV startup Aptera’s Accelerator program, which was implemented to not only get customers to commit to their SEV purchase fully but also help give the company some financial runway as it inches toward scaled production. It may have taken longer than anticipated, but the program succeeded, raising nearly $34 million.
Today’s milestone is another feather in the cap of solar EV developer Aptera, the last prominent startup remaining in the quest to achieve scaled production and deliver its ultra-sustainable mobility solutions to the masses.
To say it has been a journey so far is an understatement, and Aptera has an interesting history you can recap via our years of consistent coverage. For the sake of time (it is Friday, after all), we’re only going to circle back to January 2023, when Aptera announced a Launch Edition of its long-promised SEV by the same name.
Launch Edition is a preconfigured, limited edition design that will (hopefully) kick off Aptera’s SEV production and arrive as the first vehicles of their kind on the road. Celebrated for its continuous progress updates and transparency with its fanbase, Aptera openly admitted the Launch Edition vehicles could not reach production with significant additional funding.
Days later, Aptera co-founders Steve Fambro and Chris Anthony announced an Accelerator Program, which requested community funding investments from reservation holders starting at $10,000, which prioritizes who gets the first commemorative Launch Edition builds based on how much a person forks over.
This led to a leaderboard competition for the 2,000 available slots. Uptake was slow at first, so Aptera ended up extending the crowdfunding program indefinitely until all slots were spoken for. Just over a year later, that day has come – over 2,000 people have invested, and Aptera is now $34 million closer to scaled solar EV production.
Aptera production boosted by continued investments
Now that all 2,000 production slots for the Launch Edition SEVs have been filled, Aptera has officially closed the Accelerator program to new customers. That being said, those already on the leaderboard are more than welcome to commit to further investments in the startup to climb the chart for an earlier delivery.
As you may notice on the current leaderboard, Aptera completed its customer investor process with 2,040 reservations. Aptera initially promised 2,000 initial builds of the Launch Edition SEVs, so we’ve asked the company if it will honor those 40 additional customers. We also asked where Aptera’s current timeline for the start of solar EV production is targeted to begin, but we are still waiting to hear back on either inquiry.
The initial purpose of the crowdfunding was to give Aptera some up-front cash flow to purchase the necessary production equipment to build its Solar EVs – funds that will eventually be reimbursed by a $21.9 million grant awarded last year. As of October 2023, Aptera had already acquired over 60% of the essential equipment and tools required to manufacture its Body in Carbon (BinC).
This included stamping dies and post-processing tools – some of the most expensive components of the production process that require the longest lead times to be commissioned and delivered. In December, Aptera announced a multi-million dollar deal with Korean manufacturer CTNS for battery packs to power its solar EVs as its tier-1 supplier.
While the Launch Edition solar EVs have all been spoken for, you can still reserve a fully-customizable Aptera of your own for $100 down, $70 if you use the following link.
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Bobcat unveiled the all-new TL25.60e electric telehandler concept at Intermat last month, with a 2.5 ton rated capacity, three electric motors, and the promise of unmatched energy efficiency and performance that’s objectively superior to diesel.
The Bobcat TL26.60e gets its energy efficient edge from its “actively cooled” li-ion batteries, which are designed to deliver consistent performance in any weather and help fleet operators maintain low running costs while maximizing efficiency and, as a consequence, savings.
Those batteries send power to three separate electric motors, one each to power drive, the rotating superstructure/cab, and the boom/attachments. Bobcat says the arrangement helps its electric telehandler concept consume energy only when it’s needed, and claims that the setup provides immediate responsiveness for all the machine’s movements. That kind of quiet, vibration-free precision control should make the TL26.60e’s operator cab a great place to work from.
Speaking of the cab, it’s the same one found in Bobcat’s larger TLS models, despite the TL26.60e’s smaller footprint. The compact nature of the the machine’s electric components means there’s room for stuff like that – and, as a consequence, more room for operators.
“At Bobcat, we are committed to innovative design that prioritizes both cutting-edge technology and operator wellbeing,” says Vijay Nerva, Innovation Lead, Bobcat EMEA. “Our integration of ergonomics and digitization, exemplified by the transparent T-OLED screen, allows us to introduce customizable, interactive features without compromising the comfort and spacious design of our cabs.”
The TL26.60e features a top speed of 25 km/h, a 6 meter lifting height, and a 2.5 ton lifting capacity. The liquid-cooled battery has a 30 kWh capacity, which should be good for a full shift at most low-speed job sites.
Electrek’s Take
Bobcat’s electric telehandler concept is still just that, but as more and more construction companies come up agains no-drip job sites, low emissions zones, tightening noise regulations, and the ESG goals of both corporate and government clients, it seems like only a matter of time before machines like this become more the rule than the exception.
SOURCES | IMAGES: Bobcat, via Heavy Equipment Guide, Canada.
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If you were looking to lease Chevy’s new all-electric Equinox, it just got a lot cheaper. Chevy cut Equinox EV lease prices by nearly $140 per month. With new offers, the Chevy Equinox EV can be leased for as little as $379 per month.
After kicking off Equinox EV deliveries last month, Chevy is already introducing significant savings opportunities.
On Chevy’s website, 2024 Equinox EV lease prices start at just $379 per month. The deal is for 36 months, with $3,198 due at signing. It includes 10,000 miles a year and is based on an MSRP of $43,295. GM included $500 off for qualified lessees.
With an effective rate of $468, the 2024 Chevy Equinox EV is nearly $100 cheaper per month to lease than the Tesla Model Y.
According to online research firm CarsDirect, Tesla Model Y lease rates went up $50 this month. The Long Range model now starts at $449 with $4,143 due at signing, or $564 per month.
Meanwhile, the RS trim is significantly discounted. The Chevy Equinox RS can be leased for $429 for 36 months. With $3,109 due at signing, that amounts to $515 per month.
Chevy Equinox EV lease prices drop to just $379/mo
Previously, the RS trim had an effective cost of $651 per month ($569 for 39 months and $3,209 due at signing), meaning it’s $136 cheaper per month to lease.
Based on CarsDirect data, GM raised the 36-month residual values on the RS model to 75% from 68%, while the lease rate dropped from 7.3% to 5.5%.
|
Chevy Equinox EV trim |
Starting Price |
| 1LT FWD | $34,995 |
| 2LT FWD | $43,295 |
| 2RS FWD | $44,795 |
| 3LT FWD | $45,295 |
| 3RS FWD | $46,795 |
Chevy’s current 2LT FWD is the cheapest model hitting dealerships, starting at $43,295. The lower-priced $34,995 will be available to order later this year. All trims are eligible for the $7,500 federal tax credit.
Although this is a significant deal, Chevy Blazer EV lease prices are even more appealing. The 2024 Chevy Blazer EV is listed at $369 per month for 24 months. With $1,679 due upfront, the effective lease rate is $439 per month, only $10 more than the gas-powered model.
Chevy isn’t the only one cutting EV lease prices. Honda slashed lease prices on its first electric SUV, the Prologue. The 2024 Honda Prologue now starts at $399 per month for 36 months (with $3,999 due at signing).
If you’re in the market for a new EV, you can take advantage of significant savings opportunities. Use our links below to find deals on popular models at a dealer near you.
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On the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss the Tesla shareholders meeting, more lawsuits coming for Tesla, ultra-fast charging by Lotus, and more.
Today’s Podcast is sponsored by the Electrek American Solar Challenge 2024.
The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
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Here are a few of the articles that we will discuss during the podcast:
Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET):
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