Aptera looking for Money from DOE to Launch Manufacturing

[NmGfan]

The Wall Street Journal (9/14, B2, Power) reports Aptera Motors Inc. is looking to borrow $75 million of the manufacture of its Aptera 2e, a three-wheeled electric car, from the DOE, but last year, the agency ruled that the car did not qualify for a $25 billion loan program designed to aid the development of fuel-efficient cars, because that Aptera 2e does not meet the federal definition of an automobile, which requires cars to be four-wheeled. However, a provision was included in a recent spending bill approved by the House prior to the Congressional recess that would allow any fully-enclosed vehicle that averages at least 75 miles a gallon and is designed to carry two adults to qualify for the program. Rep. Adam Schiff, who pushed for the provision's inclusion said, "We need to think outside the box when developing new fuel-efficient vehicles," adding, "Obsolete bureaucratic definitions should not create roadblocks and stifle innovation."

The sliding launch date is probably tied to a lack of funds preventing Aptera from really spinning-up any repetitive production capability. The most recent pictures from inside the "factory" facility still look like they did about six month ago...

[Apt3448]

Originally Posted by NmGfan

The sliding launch date is probably tied to a lack of funds preventing Aptera from really spinning-up any repetitive production capability. The most recent pictures from inside the "factory" facility still look like they did about six month ago...

Careful, now, that is not what the article states (which you are free not to believe, of course). From the same source:

Mr. Wilbur, Aptera's CEO, said Aptera didn't need a federal loan to start production, which is planned for later this year. But such assistance would help the company expand beyond California faster, he said.

[rumplestiltskin]

Take the money. Just start building cars before the name Apters becomes a joke. Anyone remember Vip? Do a search at IMDB for "Lover Come Back". It was a non-existent product thought up by an advertising exec. Rock Hudson & Doris Day...hijinks ensue.

[NmGfan]

Originally Posted by Apt3448

Careful, now, that is not what the article states (which you are free not to believe, of course). From the same source:

Mr. Wilbur, Aptera's CEO, said Aptera didn't need a federal loan to start production, which is planned for later this year. But such assistance would help the company expand beyond California faster, he said.

You are absolutely right on Mr. Wilbur's statement in March '09. To achieve the ability to make 10K units/year (Auto X-Prize requirement) they'll need that $75Million though...

[Ardie3301]

Vip? Nah. I'll stick with widgets - a product *not* made by Henry Tyrone (James Garner) in "Wheeler Dealers." And you gotta love those three Texans, Jay Ray, Ray Jay, and J.R. (not Ewing).

But Aptera-wise, I understand that Aptera will have to forego feeding at the public trough to produce a 3-wheel vehicle, but as a consolation, I am confident that it will prove to be a far more efficient machine than other electric vehicles choices of today and the immediate future. And the world will beat a path to their door.

-- Ardie

[rumplestiltskin]

Originally Posted by Ardie3301

{snip}...And the world will beat a path to their door.
-- Ardie

It's the first part of that adage that should be the operative item: "BUILD a better mousetrap..."

You have to build it first. Frankly, I'm skeptical but I'll put my money down when I see them start shipping units.

[LTLFTcomposite]

From the San Diego Reader:

GOP congressman Brian Bilbray used his Twitter feed to tout his mention last week in a USA Today story about a successful bill he’d authored to qualify three-wheeled vehicles for federal research funding, the main beneficiary being Vista-based Aptera Motors, backed by heavy hitters including Google and Rockwell. Not mentioned was the role of Washington lobbying firm GovBiz Advantage, to which Aptera paid $60,000. On June 22, GovBiz’s Duane R. Gibson gave Bilbray a $500 campaign contribution. … The Del Mar Thoroughbred Club, whose plans for a lease renewal at the fairgrounds racetrack was held up at least a year by the intervention over the summer of state Democratic senator Christine Kehoe, has gotten busy handing out campaign contributions to a raft of other state politicos. On July 14, according to a recent disclosure filing, the track operator gave $500 each to Democratic senator Jenny Oropeza, as well as GOP assemblymen Martin Garrick, Paul Cook, and Joel Anderson and Democrat Steve Bradford. The senate campaign of Democratic assemblyman Joe Coto got $1000 on July 28.

Paying the lobbying firm is interesting enough, nothing wrong with that. I hadn't heard about Rockwell involvement before though.

[Apt3448]

Don Beall, ex-chairman of Rockwell, is on the board of advisers of Aptera. I was not aware of Rockwell having invested in Aptera. Michael Johnson, from Esenjay Petroleum, and Bill Gross, from Idealab, both represent investing firms on the board of directors, as per Aptera website (under 'team').

Edit: OK, I'm dense today: The Beall Family trust is mentioned as investor, along with The Quercus trust, Esenjay petroleum, Google, and Idealab (in no particular order) under investment on the about us page of Aptera.com. The US government will not be added to the list, but reconsidering the $75m loan is great news today.

[KarenRei]

Probably the best $60k they ever spent.

[Matthijs]

http://www.opensecrets.org/lobby/cli...tage&year=2009