Paul Wilbur | TheDetroitBureau.com
Detroit Bureau on Twitter

Posts Tagged ‘paul wilbur’

Electric Carmaker Aptera Pulls the Plug

Short of cash, start-up battery-car maker will be shutting down.

by on Dec.03, 2011

Aptera's little battery car won't be making it into production as the California start-up shuts its doors.

After raising only a fraction of the money it needed to put its aircraft-like 2e battery-car into production, California start-up Aptera has had to pull the plug on its ambitious goal of becoming a major player in the coming market for electric vehicles.

The Southern California firm had been counting on receiving a federal loan to cover most of the $150 million it said it needed to launch production of the three-wheeled, highly aerodynamic 2e, which looks much like a private aircraft minus the wings.

But the government failed to come up with funding as the Department of Energy loan program came under increasing fire – an issue that saw the DoE back out of assisting another California automotive ‘s goalstart-up, San Diego-based Next Autoworks.  (Click Here for that story.) Turning to other sources, Aptera had so far only been able to raise $40 million.

http://www.thedetroitbureau.com/about/subscribe

Subscribe Now! It's Free!

“After years of focused effort to bring our products to the market, Aptera Motors is closing its doors, effective today,” Aptera Chairman Paul Wilbur said in a statement announcing the battery-car maker’s decision. “This is a difficult time for everyone connected with our company because we have never been closer to realizing our vision. Unfortunately, though, we are out of resources.”

(more…)