Aptera has raised $3m of its $20-50m crowdfund goal, offers new swag to investors
Aptera’s new community funding program is just two weeks in, but it has raised $3 million of it’s $20-50 million goal. To incentivize further investment, the company is now offering new pieces of Aptera-branded swag to lead investors.
Aptera announced the funding milestone today, though it wasn’t really a secret, as it has had a constantly-updated investment leaderboard ever since its January 27 crowdfunding announcement.
In that announcement, Aptera indicated that it wanted to raise $20 to $50 million by the end of March. Aptera is hoping to attract 2,000 investors at $10,000 or more each, which would put it into this fundraising range.
So far, Aptera has raised $3.10 million from 257 investors, according to the leaderboard at press time.
So, if we assume that investments start fast and trail off, or that the rate of investment is relatively stable over the investment period, it looks like Aptera might be running a bit behind schedule, about a quarter of the way into its two-month investment period.
As a result, Aptera has offered a few new perks to investors, perhaps to speed things up a bit.
In addition to the previous perks of a 5% discount on an Aptera and waiving the $100 reservation fee (which anyone can save $30 on by using our link) for any investor over $10,000, Aptera has promised that everyone who invests over $10k between Jan 27 and March 26 will get a serialized, limited-edition hardcover book about the Aptera production and design process.
Beyond this tier, any investor over $15k in that timeframe will get a “branded Aptera adventure bag,” and investors over $25k will get the bag and a “branded Aptera Accelerator jacket.”
The 2,000 investors will gain access to the first 2,000 Launch Edition Aptera vehicles, roughly in order of their positions on the leaderboard. The #1 investor will get Aptera #1 – currently, that position goes to an investor from Maryland who goes by the initials R.P. They have invested $10,500 since Jan 27, but over $1 million since Aptera originally started taking investments.
Those Launch Edition cars will start at $33,200, with a configuration including the upgraded 400-mile battery, all available solar panels, and all-wheel drive system. Though that price is conspicuously labeled as “subject to change.”
Finally, Aptera promised additional swag incentives in the future, stating that it will add “more items and experiences to the list” as more investments roll in. It also alluded to a special prize for the top 10 investors but said we’ll “have to wait and find out.”
If you’d like to invest in Aptera, you can find more at their Investment Accelerator Program site.
Electrek’s Take
There’s a lot of discussion in the Electrek newsroom any time Aptera comes up. For longtime EV fans, Aptera has quite a history – it tried and failed to bring a car to market once before, though this second attempt seems more realistic than the first did.
The car does have a cool and different design and incredible efficiency. It perhaps could even deliver the promise of being able to drive and charge fully on solar power for low-mileage individuals or people living in very sunny places. This could make it easier for people who don’t have access to their own parking spot to stay charged up from day to day, for example. And while solar is usually more effective on the roofs of buildings or in other stationary applications, solar cars have been a dream for a long time.
It’s also somewhat reasonably priced, with a $25,900 base price (for the non-Launch Edition) – though that’s “subject to change,” as it’s the same price that Aptera originally announced in 2020, and most cars have gone up in price since then.
But one car that hasn’t gone up in price is the Chevy Bolt, which is a screaming deal right now at a base price of $26,500. That’s barely more than an Aptera, but you get a “real car” for that price. Of course, the people looking at an Aptera are probably the type of people who want something different anyway, so perhaps a “real car” isn’t what they want. But that pricing differential doesn’t seem to work in Aptera’s favor, especially when the Bolt will qualify for the federal EV tax credit, whereas the Aptera, as a three-wheeled vehicle, will not.
But then again, nothing can compete with the Bolt on price/performance right now, and it’s nearing the end of its product life. We’ll have to see what GM has in store with the Equinox, which is supposed to replace the Bolt at a somewhat similar price range, and see how the rest of the market develops in the next year or more before the Aptera hits the road.
So, while we remain optimistic that Aptera can make it, we also recognize it’s got a long way to go in a tough environment for startups as funding has dried up across the economy in recent months. As a result, solar EV startups have been having a rough time lately, with Lightyear recently declaring bankruptcy, and Sono running its own crowdfunding campaign. And another three-wheeled EV-maker, Arcimoto, is also in trouble.
So Aptera has its work cut out for it, but maybe offering a few more incentives will nudge some more investors into action.
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Wind energy powered 20% of all electricity consumed in Europe (19% in the EU) in 2024, and the EU has set a goal to grow this share to 34% by 2030 and more than 50% by 2050.
To stay on track, the EU needs to install 30 GW of new wind farms annually, but it only managed 13 GW in 2024 – 11.4 GW onshore and 1.4 GW offshore. This is what’s holding the EU back from achieving its wind growth goals.
Three big problems holding Europe’s wind power back
Europe’s wind power growth is stalling for three key reasons:
Permitting delays. Many governments haven’t implemented the EU’s new permitting rules, making it harder for projects to move forward.
Grid connection bottlenecks. Over 500 GW(!) of potential wind capacity is stuck in grid connection queues.
Slow electrification. Europe’s economy isn’t electrifying fast enough to drive demand for more renewable energy.
Brussels-based trade association WindEurope CEO Giles Dickson summed it up: “The EU must urgently tackle all three problems. More wind means cheaper power, which means increased competitiveness.”
Permitting: Germany sets the standard
Permitting remains a massive roadblock, despite new EU rules aimed at streamlining the process. In fact, the situation worsened in 2024 in many countries. The bright spot? Germany. By embracing the EU’s permitting rules — with measures like binding deadlines and treating wind energy as a public interest priority — Germany approved a record 15 GW of new onshore wind in 2024. That’s seven times more than five years ago.
If other governments follow Germany’s lead, Europe could unlock the full potential of wind energy and bolster energy security.
Grid connections: a growing crisis
Access to the electricity grid is now the biggest obstacle to deploying wind energy. And it’s not just about long queues — Europe’s grid infrastructure isn’t expanding fast enough to keep up with demand. A glaring example is Germany’s 900-megawatt (MW) Borkum Riffgrund 3 offshore wind farm. The turbines are ready to go, but the grid connection won’t be in place until 2026.
This issue isn’t isolated. Governments need to accelerate grid expansion if they’re serious about meeting renewable energy targets.
Electrification: falling behind
Wind energy’s growth is also tied to how quickly Europe electrifies its economy. Right now, electricity accounts for just 23% of the EU’s total energy consumption. That needs to jump to 61% by 2050 to align with climate goals. However, electrification efforts in key sectors like transportation, heating, and industry are moving too slowly.
European Commission president Ursula von der Leyen has tasked Energy Commissioner Dan Jørgensen with crafting an Electrification Action Plan. That can’t come soon enough.
More wind farms awarded, but challenges persist
On a positive note, governments across Europe awarded a record 37 GW of new wind capacity (29 GW in the EU) in 2024. But without faster permitting, better grid connections, and increased electrification, these awards won’t translate into the clean energy-producing wind farms Europe desperately needs.
Investments and corporate interest
Investments in wind energy totaled €31 billion in 2024, financing 19 GW of new capacity. While onshore wind investments remained strong at €24 billion, offshore wind funding saw a dip. Final investment decisions for offshore projects remain challenging due to slow permitting and grid delays.
Corporate consumers continue to show strong interest in wind energy. Half of all electricity contracted under Power Purchase Agreements (PPAs) in 2024 was wind. Dedicated wind PPAs were 4 GW out of a total of 12 GW of renewable PPAs.
Read more: Renewables could meet almost half of global electricity demand by 2030 – IEA
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In 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 official unveiling of the new Tesla Model Y, Mazda 6e, Aptera solar car production-intent, and more.
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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The Chinese EV leader is launching a new flagship electric sedan. BYD’s new Han L EV leaked in China on Friday, revealing a potential Tesla Model S Plaid challenger.
What we know about the BYD Han L EV so far
We knew it was coming soon after BYD teased the Han L on social media a few days ago. Now, we are learning more about what to expect.
BYD’s new electric sedan appeared in China’s latest Ministry of Industry and Information Tech (MIIT) filing, a catalog of new vehicles that will soon be sold.
The filing revealed four versions, including two EV and two PHEV models. The Han L EV will be available in single- and dual-motor configurations. With a peak power of 580 kW (777 hp), the single-motor model packs more power than expected.
BYD’s dual-motor Han L gains an additional 230 kW (308 hp) front-mounted motor. As CnEVPost pointed out, the vehicle’s back has a “2.7S” badge, which suggests a 0 to 100 km/h (0 to 62 mph) sprint time of just 2.7 seconds.
To put that into perspective, the Tesla Model S Plaid can accelerate from 0 to 100 km in 2.1 seconds. In China, the Model S Plaid starts at RBM 814,900, or over $110,000. Speaking of Tesla, the EV leader just unveiled its highly anticipated Model Y “Juniper” refresh in China on Thursday. It starts at RMB 263,500 ($36,000).
BYD already sells the Han EV in China, starting at around RMB 200,000. However, the single front motor, with a peak power of 180 kW, is much less potent than the “L” model. The Han EV can accelerate from 0 to 100 km/h in 7.9 seconds.
At 5,050 mm long, 1,960 mm wide, and 1,505 mm tall with a wheelbase of 2,970 mm, BYD’s new Han L is roughly the size of the Model Y (4,970 mm long, 1,964 mm wide, 1,445 mm tall, wheelbase of 2,960 mm).
Other than that it will use a lithium iron phosphate (LFP) pack from BYD’s FinDreams unit, no other battery specs were revealed. Check back soon for the full rundown.
Source: CnEVPost, China MIIT
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