Aptera suddenly pauses Accelerator program at request of SEC, only two days left to invest
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.
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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![The Genesis GV60 MIV is one hardcore EV that climbs mountains [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/01/Genesis-GV60-MIV-EV-6.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
The luxury carmaker channeled its inner superhero with this one. Genesis unveiled the new GV60 Mountain Intervention Vehicle (MIV) this week in Switzerland, an off-road EV that can climb mountains. The concept is designed for extreme rescue missions. Check it out below.
Meet the Genesis GV60 MIV rescue EV concept
Genesis showed off the new GV60 MIV this week at the World Economic Forum (WEF) in Davos, Switzerland. Crowds lined up to see it at the AMERON Davos Swiss Mountain Resort, not far from the WEF venue.
Based on its first dedicated EV, the GV60, the concept is designed to tackle extreme terrain and weather on rescue missions.
The purpose-built vehicle gains off-road elements like snow tracks and medical and emergency communication systems for rescue missions on mountains or other extreme terrain. Other upgrades include a custom heavy-duty roof rack and rear hatch rack.
Genesis added large carbon fender flares to warn those nearby and protect the vehicle from damage in extreme weather.
With a fully electric powertrain, the Genesis GV60 MIV has no tailpipe emissions, protecting the environment. It’s also nearly silent, with minimal noise pollution.
Inside, the off-road electric SUV includes custom sports seats, adding to the GV60’s already impressive interior design.
The concept follows the upgraded GV60, revealed earlier this month. Genesis updated it with redesigned front and rear bumpers, more tech, and added luxury.
Like the new 2025 Hyundai IONIQ 5, based on the same E-GMP platform, the upgraded GV60 is expected to feature a bigger battery providing more range. Powered by an 84 kWh battery, the 2025MY now has up to 318 miles range, up from 303 miles in the outgoing model (77.4 kWh battery).
The 2025 Genesis GV60 starts at $52,350 in the US and has a range of up to 294 miles. Once the upgraded model arrives in 2026, the electric SUV could have a range of up to 300 miles.
| 2025 Genesis GV60 trim | Range (EPA-est) |
Starting Price* |
| Standard RWD | 294 miles | $52,350 |
| Standard AWD | 264 miles | $55,850 |
| Advanced AWD | 248 miles | $60,900 |
| Performance AWD | 235 miles | $69,900 |
What do you think of the GV60 MIV? Should Genesis get these onto the mountains? Or should it stick to on-road luxury cars? Let us know in the comments.
Ready to try out the electric luxury SUV for yourself? With the 2025 models arriving, Genesis is offering generous discounts on the 2024 lineup while they are still in stock. You can use our link to find offers on 2024 and 2025 Genesis GV60 models at a dealer near you today.
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Rivian (RIVN) already has several automakers reaching out about potential supply deals for software and other EV tech. According to Rivian’s Chief Software Officer, Wassym Bensaid, its new partnership with Volkswagen has other OEMs “knocking on our door.”
Will Rivian and VW supply EV tech to other automakers?
After launching “Rivian and VW Group Technology, LLC,” their new software and EV joint venture in November, the collaboration is already showing potential.
Bensaid, who co-leads the new joint venture with VW’s Casten Helbing, said in an interview on Thursday (via Reuters) that the collaboration is in talks with at least a few other automakers over potential supply deals for software and EV architecture.
“I’d say that many other OEMs are knocking on our door,” he said. Although no names or other details were revealed, Bensaid added that “there is demand.”
The software leader explained that Rivian is prioritizing its smaller, more affordable R2 until 2027 while integrating the new tech into upcoming VW, Audi, Porsche, and Scout brand EVs.
Bensaid added that the new JV “today becomes one of the key partners” for other automakers who want to “make a leap from a technological standpoint.”
Last week, German news outlet Spiegel reported that VW could expand the partnership with Rivian. Volkswagen CEO Oliver Blume said, “We are thinking about sharing modules and bundling purchasing volumes.”
VW is already planning to invest $5.8 billion, which, according to Rivian CEO RJ Scaringe, is a “meaningful financial opportunity.”
Rivian is already using the platform and software stack on its Gen 2 R1S electric SUV and R1T pickup, a drastic upgrade from the previous version. The architecture uses seven electronic control units (ECUs), down from 17 in the Gen 1 models.
The new models also include Rivian’s new in-house autonomy system, the Rivian Autonomy Platform, which consists of 11 cameras, five radars, and other features for added driver assist (ADAS) features.
At the opening of the new Rivian Space in San Francisco on Thursday, Scaringe said the company plans to roll out hands-free driving this year. It’s expected to be similar to Tesla’s Full-Self Driving (FSD). In 2026, Rivian will launch an “eyes-free” system as it advances new tech and software.
Electrek’s Take
The JV with Volkswagen could be significant for Rivian as it looks to accelerate growth in 2025. After shutting down its Normal, IL manufacturing plant last April for upgrades, Scaringe said the company is already seeing “a meaningful reduction” in material costs.
Rivian’s R2, starting at around $45,000, is expected to open an entire new market. Analysts expect the VW partnership to provide enough funding for the R2 to enter production, which is expected in the first half of 2026.
Last week, Rivian closed its loan agreement with the US Department of Energy (DOE) for up to $6.6 billion in financing for its new manufacturing plant in Georgia. The EV maker has already started hiring construction and management workers, with recruitment “expected to ramp quickly.”
Will Rivian’s EV architecture and software “become the platform of choice in the Western world” aside from Tesla? That’s what Canaccord Genuity analysts said in a note to investors.
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