Video footage intended for investors has leaked. Co-founders and co-CEOs of Aptera Motors, Steve Fambro and Chris Anthony are shown talking about the solar EV startup’s future, which includes a potential IPO.
The company is known for maintaining an open line of communication with its expanding network of investors, reservation holders for the Accelerator program, and EV enthusiasts who hope to see a business start producing solar-powered cars on a large scale.
The latest public update came in late last month as Aptera Co-CEOs unveiled a teaser for its flagship vehicle’s upcoming app and battery technology while showing a glimpse of the 3-wheeled EV’s Body in Carbon (BinC) in an exhibit at the JEC World 2024 in Paris.
As Aptera moves closer to a scaled production scheduled to start later this year, the company’s founders have been very open about the funding needed to achieve the milestone.
Even after the achievement of state grants and raising $34 million through a crowdfunding accelerator program, Aptera still requires more liquidity to push its solar EV across the finish line and into the hands of early adopters.
An initial public offering (IPO) by Aptera has been one potential resolution to this lingering issue. According to the video footage that surfaced recently, an IPO is still on the to-do list of the company’s co-CEOs.
Aptera founders target IPO around the start of SEV production
Youtube channel Free Power uploaded a video showing the brand’s co-CEOs talking about the potential for an IPO and the implications of that amount of public funding for the start of SEV production.
There were no available sources for the video footage but representatives from Aptera stated that Free Power leaked footage from an old exclusive investor-only webinar. As per Electrek, it is not sure how dated this footage is, but there are some interesting tidbits that anyone rooting for the company’s success would be interesting in knowing.
“We would love to tie an IPO to our production start. Obviously, once we start delivering vehicles, we think we’ll get a lot more notoriety, we’ll get a lot more pre-orders. It seems like a natural fit that if we can tie an IPO to our production start, that kind of maximizes the benefit of everything. It gives us growth capital to launch into other variants of the three-wheeler and possibly four-wheel vehicles, part of a whole future plan to get us to 150,000 units per year.” Says Aptera co-CEO Chris Anthony.
Steve Fambro, fellow CEO of Aptera, added some insightful commentary after, saying that you are constantly raising money in any business like this. Aptera has done a great job of remaining cost-conscious, but as previously indicated, it has never hidden the fact that it will require additional funding to fulfill its solar-powered dream.
“We aspire to deliver one million Aptera by 2023. So, how do we do that? It’ll be a capital-intensive plan; it will require multiple factories, and an IPO can help us rally the capital to do that,” Anthony said.
The public and other investors will take more notice as Aptera gets closer to genuine scaled SEV production, increasing the likelihood of getting that initial public offering (IPO) and reach true mass production.
