Many startup businesses got burned by the recent catastrophic collapse of Silicon Valley Bank (SVB), creating a very stressful time for investors.
Solar electric vehicle (SEV) startup Aptera Motors recently assured its investors that the rapid collapse of SVB did not impact it by tweeting, "Aptera has no money in SVB, and is not affected."
Aptera has no money in SVB, and is not affected.
— Aptera (@aptera_motors) March 11, 2023
Based in Carlsbad, California, Aptera claims to be the world's first SEV that doesn't require charging for most daily use and is currently crowdfunding through its Accelerator program. The program allows people to invest at least $10,000 in the company in order to receive one of the first 2,000 vehicles off the production line.
But no need to worry if you don't have 10 grand just lying around. You can still reserve your own Aptera for the low price of $100.
The three-wheeled SEV looks like a two-seater airplane that got its wings clipped off and covered with solar panels. But that's not the only cool part — the 700-watt solar package can add up to 40 miles per day of solar charge if it's being driven an average of 29 miles per day in a place with high sun exposure — sorry, Seattleites.
Add that onto the Launch Edition of the Aptera SEV's 400-mile range battery pack, and you can make it from Los Angeles to San Francisco with enough charge left over to drive down the city's famously crooked Lombard street a few dozen times.
Solar-powered EVs are a rising trend thanks to the extra boost they give to a standard EV's battery charge. Many companies are racing to produce their own SEVs.
Gas-powered cars produce 3.5 billion tons of carbon pollution worldwide, plus there aren't many that look as sleek as a wing-less airplane, so it's no wonder more and more people are turning to EVs.
Aptera's tweet put investors' minds at ease, as SVB was the 16th-largest bank in the U.S. and the go-to bank for tech startups, providing financing for almost half of U.S. venture-backed technology companies.
One Twitter user replied to Aptera's update, writing, "Phew! That's a relief." While another user adds, "Glad to hear this, was just wondering about that myself."
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