• Tech Tech

Solar EV startup gains momentum after securing multimillion-dollar investment: ‘This is an important moment’

“This is exciting.”

"This is exciting."

Photo Credit: Aptera

Electric vehicle enthusiasts are eagerly waiting for the first full solar-powered car to reach consumers, but the industry has hit several speed bumps as solar EV startup companies rise and fall. However, one company, Aptera, just secured a tier-1 battery supplier and a major investment, giving it a big boost and a lot of optimism for the future, as reported by Electrek.

Aptera is still in the process of developing an impressive-sounding EV that it describes as the “most efficient vehicle on the planet,” according to Electrek. But the company, which went bankrupt in 2011 and then rose from the dead in 2021 (as The Verge described it), seems to be perpetually stuck in the prototype phase.

Now, hopefully, an investment and battery supply agreement from Korean battery manufacturer Creative Technology & Surprise (CTNS) will help to get it over the hump. 

“I believe that this is an important moment for CTNS to leapfrog to the future unicorn in global market, and sincerely appreciated to Chris Anthony & Aptera Motors to become our partner for the journey,” CTNS CEO Ki-jeong Kwon said during the signing ceremony in Seoul, per Electrek.

Aptera co-founder Chris Anthony commented that he was “happy to invite CTNS as an official partner for Aptera Motors and was impressed a lot by the enthusiasm & spirit of the Korean startup.”

The news for Aptera may have come just in the nick of time — as of last year, the startup was reportedly strapped for cash and may have run afoul of the SEC with a crowdfunding campaign.

Electrek’s commenters, many of whom have been following the Aptera saga closely over the years, were cautiously optimistic about what the news means for the future of the company and for solar-powered EVs.

“This is exciting. I wish Aptera the best of luck and really hope they can succeed at bringing a product to market, even if it remains a niche vehicle,” wrote one commenter.

“I can’t get a good reading on Aptera. They have a fairly vocal and supportive group of investors, early reservation holders. … I hope they can turn the corner, because their car is interesting, and it would be neat to see some production. Even on a limited edition,” wrote another.

Join our free newsletter for weekly updates on the coolest innovations improving our lives and saving our planet.

Cool Divider