Aptera late Wednesday announced the end date for its crowdfunding stage, as it seeks private capital on its way “towards high-volume production” of its high-efficiency, three-wheel solar EV.
The company’s Regulation A crowdfunding, which bypasses traditional investors and the stock market and emphasizes smaller amounts, will end on June 30, it says, and it’s engaging with the firm US Capital for additional funding.
Through all phases of crowdfunding so far, over three years, Aptera has raised more than $100 million from more than 17,000 investors. It was incentivized this past year with an Accelerator Program that gave investors—at a minimum of $10,000 each—priority for reservations of the first 2,000 initial build slots of the three-wheeled electric car.
Aptera notably doesn’t say that funding has been secured. It instead says that its crowdfunding efforts “have paved the way for the company to engage with US Capital to secure funding for the production of Launch Edition vehicles.”
Aptera Launch Edition
Aptera Launch Edition charging
Aptera Launch Edition core specs
The Launch Edition was revealed in January 2023 with a 4.0-second 0-60 mph acceleration, a 42-kwh battery pack that would provide a range of up to 400 miles, and a solar system that can provide 700 watts of continuous power good for 40 miles of range per day, according to the company. Its price has been set at $33,200.
Aptera announced its use of the Tesla NACS port even before last year’s wave of American-market EV brands switching charging standards.
Aptera investment perks
The company announced the completion of the Accelerator Program in February and noted that it had raised enough money to “to fund the initial phases of production”—about $33 million, as of the end of January. Aptera appeared to walk that back a few weeks later, when it provided an update noting that “the start of production for Launch Edition requires additional capital.” Aptera clarified later to Green Car Reports that the previous claim of initial production phases referred to “production-intent vehicle builds.”
Aptera now also says that it plans to bring the vehicle to market “at scale” in 2025, and it hinted in recent months that some design changes are coming for efficiency and cost-effectiveness. Up to now, it’s looked to CPC in Italy for its carbon-fiber body plus chassis and suspension components, to battery supplier EVE Energy for 2170-format cylindrical NMC cells, and to CTNS in South Korea for battery modules.
Source link #Aptera #finishes #crowdfunding #seeks #capital #solar
Headlining today’s Green Deals is a two-week Rad Power Memorial Day sale that is taking up to $600 off three e-bikes, while also offering free extra battery promos as well – starting with the RadRover 6 Plus High-Step Fat-Tire e-bike at $999. It is joined by a rare discount on the all-black Hover-1 Instinct Electric Bike, as well as the multi-color model, all starting from $715. And to round out the main deals, the Greenworks 48V 21-inch Cordless Self-Propelled Lawn Mower, 24V 320 CFM Leaf Blower, and a 24V 12-inch String Trimmer with two 5.0Ah batteries has fallen to $488. Plus, all the other hangover Green Deals that are still alive and well.
Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.
Rad Power Memorial Day sale takes up to $600 off e-bikes and offers free extra batteries – starting from $999
Rad Power Bikes has launched its Memorial Day sale through May 29 that is taking up to $600 off three of its e-bikes, while also giving you a free extra battery for two of the models. Leading the sale is the RadRover 6 Plus High-Step Fat-Tire e-bike for $999 shipped. Usually going for $1,599 since the company lowered prices across its lineup of models, this e-bike has seen three previous flash sales since the new year began, with the most recent one in April dropping costs to $1,099. Today’s deal comes in as a new all-time low, amounting to a $600 markdown off the going rate. You can learn more about this model by heading below the fold or checking out our hands-on review.
Nicknamed Rad Power’s “beast of a bike,” the RadRover 6 Plus reaches a 20 MPH top speed for up to 45 miles on a single charge thanks to its 750W brushless geared hub motor working in tandem with the semi-integrated 672Wh battery. Sporting a 12-magnet cadence sensor, this e-bike has five levels of pedal assistance to choose from, accessible through the full digital display that also gives you real-time performance data like battery levels or a wattage meter to keep track of the motor’s output. Should you take the roads less traveled (often off the paved paths), this model is ready and willing with its water-resistant connectors and wiring harness, as well as a pair of 26-inch by 4-inch puncture-resistant fat tires with fenders over each.
Next is the RadExpand 5 Folding e-bike for $1,249 shipped, plus the free extra battery (just be sure to add both items to your cart so the discount can be automatically applied). It has the same combination motor and battery to reach a 20 MPH speed for 45+ miles on a single charge, which can vary depending on your travelling conditions, but is also doubled with your extra battery. This model only comes with four levels of low-profile cadence sensing pedal assistance, along with features like a water-resistant wiring harness, a standard LED headlight, an integrated taillight with a brake light indicator functionality, an integrated rear storage rack, fenders for both tires, and a simple LED display. As the name suggests, its folding frame makes space saving far easier when not in use.
Then there is the RadRunner Plus Utility e-bike for $1,599shipped, down from $1,799 and coming with the same free extra battery deal. Equipped with the same 750W motor and 672Wh battery, it can match the RadExpand 5’s speed and mileage (doubled with the extra battery too). Its five levels of normal pedal assistance are joined by a bonus zero level for manual pedaling (if you want to get in some cardio). Its taillights have the added ability to go into flash mode for more obvious illumination at night or when parking, an integrated cargo rack that can double as passenger seating, and it has an included 7-speed Shimano derailleur for when you go manual.
Hover-1 Instinct Electric Bikes start from $715
Amazon is offering the Hover-1 Instinct Electric Bike for $763.59 shipped in black, after clipping the on-page 15% off coupon. Already down from its usual $1,000 price tag, this particular model hasn’t seen quite as many discounts like its multi-color counterpart, having spent much of 2024 so far hovering near or around its MSRP after starting the year off by riding in on its $596 low from leftover Christmas sales. Today you can grab this model for one of the lowest prices we’ve seen as a combined $236 markdown, making it a much more affordable commuting option for those on a budget. The blue model is still sitting at its MSRP, while the multi-color model can be found for $715 currently.
The Hover-1 Instinct sports a smaller 350W brushless motor than we usually see with a lot of e-bikes these days, but with its removable 36V battery you’re still getting one hell of an affordable commuting option with 40 miles of travel range on a single charge, albeit with only a 15 MPH top speed. With each ride, you can choose between using the throttle for pure electric action (though this will decrease mileage) or one of its three pedal assistance levels – and if you want to get some low-stress exercise, the lower levels provide only a little extra power as opposed to its highest level setting. It also features 26-inch pneumatic tires, front and rear disc brakes, and an LCD digital display that gives real-time readouts for speed, battery level, mileage, pedal assist level, ride time, and more.
Greenworks 48V mower, 24V blower, and 24V trimmer combo falls to $488
The lawn mower sports 48V of power with its brushless motor and two 5.0Ah batteries (which are also compatible for the other tools in the combo as well), giving you around an hour of runtime on a single charge – though this timeframe may vary depending on terrain conditions and operator techniques. It has the usual seven-position height adjustment as well as the 3-in-1 functionality to mulch, rear bag, or side discharge clippings. The leaf blower offers 320 CFM at 90 MPH for up to 20 minutes on a single battery’s charge, while the string trimmer provides a 12-inch cutting path with an auto-feed system to replace broken lines as you go for less stop-start distractions.
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
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Intelligent power management company Eaton is opening a new assembly plant in Santiago de los Caballeros in the Dominican Republic, to meet growing customer demand for its fuses. The project will increase supplies of Eaton’s Bussmann series fuses, which provide critical safety functionality in EVs, energy storage projects and other industrial applications.
Eaton’s new 65,000-square-foot assembly plant is expected to create some 300 manufacturing jobs. Production is to begin in 2024.
Eaton has operated in the Dominican Republic for more than 35 years, and is one of the country’s largest manufacturers. This will be the company’s fifth manufacturing site in the DR. Eaton also recently opened an industry design center, which will be a hub for technical innovation and advancing industry education and training in the country.
In 2023, Eaton announced nearly $750 million in investments to increase North American manufacturing capacity for electrical assemblies including switchgear, switchboards and circuit breakers, EV charging technology, transformers, voltage regulators and more.
“This is the latest expansion of Eaton’s manufacturing capacity to help provide the products that are at the center of the energy transformation that is happening across the globe,” said Rob Griffin, VP of Eaton’s Bussmann Division. “Eaton’s Bussmann fuses are critical to provide safe and reliable power in electric vehicles, renewable energy, energy storage systems and data centers across the globe. The Eaton Santiago facility will assemble and package fuses and fuse accessories that are used in these applications.”
Aptera late Wednesday announced the end of its crowdfunding stage, as it seeks private capital on its way “towards high-volume production” of its high-efficiency, three-wheel solar EV.
The company’s Regulation A crowdfunding stage, which bypasses traditional investors and the stock market and emphasizes smaller amounts, will end on June 30, it says, and it’s engaging with the firm US Capital for additional funding.
Aptera’s crowdfunding has run for three years in all and was incentivized this past year with an Accelerator Program that gave investors—at a minimum of $10,000 each—priority for reservations of the first 2,000 initial build slots of the three-wheeled electric car.
Through all phases of crowdfunding so far, Aptera has raised more than $100 million from more than 17,000 investors.
Aptera notably doesn’t say that funding has been secured. It instead says that its crowdfunding efforts “have paved the way for the company to engage with US Capital to secure funding for the production of Launch Edition vehicles.”
Aptera Launch Edition
Aptera Launch Edition charging
Aptera Launch Edition core specs
The Launch Edition was revealed in January 2023 with a 4.0-second 0-60 mph acceleration, a 42-kwh battery pack that would provide a range of up to 400 miles, and a solar system that can provide 700 watts of continuous power good for 40 miles of range per day, according to the company. Its price has been set at $33,200.
Aptera announced its use of the Tesla NACS port even before last year’s wave of American-market EV brands switching charging standards.
Aptera investment perks
The company announced the completion of the Accelerator Program in February and noted that it had raised enough money to “to fund the initial phases of production”—about $33 million, as of the end of January. Aptera appeared to walk that back a few weeks later, when it provided an update noting that “the start of production for Launch Edition requires additional capital.” Aptera clarified later to Green Car Reports that the previous claim of initial production phases referred to “production-intent vehicle builds.”
Aptera now also says that it plans to bring the vehicle to market “at scale” in 2025, and it hinted in recent months that some design changes are coming for efficiency and cost-effectiveness. Up to now, it’s looked to CPC in Italy for its carbon-fiber body plus chassis and suspension components, to battery supplier EVE Energy for 2170-format cylindrical NMC cells, and to CTNS in South Korea for battery modules.
Source link #Aptera #finishes #crowdfunding #seeks #private #capital #solar
In under 66 hours after launching its new low-cost electric SUV, VinFast’s VF 3 racked up nearly 30,000 pre-orders. Starting under $10,000 (235 million VND), the VinFast VF 3 is already creating a buzz. Following the special price promo, the VF 3 will cost around $20,000.
Meet the new low-cost mini electric SUV
VinFast revealed the affordable VF 3 at CES 2024 in January, announcing plans to launch the mini electric SUV globally, including in the US.
The VF 3 aims to “unbound the imagination of urban mobility that is not only sustainable but also accessible for everyone,” according to Ms. Tran Mai Hoa, VinFast’s deputy CEO of sales and marketing.
In other words, VinFast looks to meet the growing demand for low-cost EVs globally. VinFast designed the compact electric SUV for cruising through the city.
At 125.6″ long, 66.1″ wide, and 63.8″ tall, the VF 3 is even smaller than Volvo’s new EX30 (167″ long X 72″ wide X 61″ tall).
The electric SUV is equipped with a 10″ infotainment with Android Auto and Apple CarPlay compatibility. With the second-row seats fully folded, the VF 3 offers up to 550 liters of cargo space.
VinFast VF 3 (Source: VinFast)
VinFast VF 3 racks up close to 30,000 pre-orders in 66 hrs
After announcing it was accepting early deposits for the VF 3 last week, VinFast says the electric SUV is already creating hype.
VinFast revealed the VF 3 received 27,649 pre-orders within 66 hours of launching, a new record for a Vietnamese automaker.
The VF 3 is already a “social media phenomenon in Vietnam,” topping trend rankings ahead of its global debut. With the low-cost special introductory price of $9,248 (235 million VND), the mini electric SUV is already making a big impact.
VinFast VF 3 interior (Source: VinFast)
The special price (235 million VND) is for the battery subscription model. With the battery included, the VF 3 can be ordered for 315 million VND ($12,390). The promotion ran from May 13 to May 15.
VinFast says paying for the VF 3 upfront costs only half the price of the cheapest gas car currently available in Vietnam.
VinFast VF 3 (Source: VinFast)
Otherwise, buyers need only 50 to 70 million VND ($1,965 to $2,750) for a down payment. The rest can be financed with monthly payments of just over 2 million VND ($78.5) over eight years.
For the first time in Vietnam, VinFast sold the VF 3 on e-commerce platforms like Shopee, resulting in over 50% online orders.
VinFast (VFS) stock chart (Source: TradingView)
VinFast (VFS) stock is up 8% on Thursday and 44% over the past month. However, VFS shares are still down 34% this year and over 90% from their ATH last August, shortly after going public.
Electrek’s Take
VinFast has already announced plans to sell the VF 3 globally, including in the US. However, the $10,000 (235 million VND) promo price was a special offer. The VF 3 will cost around $20,000 in Vietnam.
Although these are pre-orders, it’s still a sign of demand for low-cost EVs. If the demand is high in Vietnam, it should be interesting to see how many pre-orders the VF 3 racks up in other global markets like Europe, North America, and Asia.
Would you buy the VF 3 for $20,000? Let us know your thoughts in the comments below.
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Source link #VinFast #VFS #secures #30K #preorders #days
Solar EV startup Aptera Motors announced it is leaving its “crowdfunding nest” of sorts, putting a bookend on three years of its Regulation A offering to pursue private funding. The startup shared a deadline for public investors while it engages in discussions with private financial group US Capital to help (finally) get its solar EVs into scaled production.
Scaling is hard.
We’ve seen dozens of startups aim for that vital yet oh-so-difficult milestone only to fall flat and go broke. In the small but exciting segment of solar EVs, especially, finding the funds to reach scaled production has proven arduous. However, Aptera Motors has shown its tact and scrappiness in garnering funding via several unique solutions, such as crowdfunding.
In the summer of 2021, Aptera Motors launched a Regulation A offering, which provides an exemption from registration requirements with the SEC in regard to public offerings of its securities, thus opening the door for funding from its (potential) customers up to a certain amount.
In early 2023, Aptera co-founders Steve Fambro and Chris Anthony announced an Accelerator Program, requesting community funding investments from reservation holders starting at a minimum of $10,000. Those who invested in Aptera have had their deliveries prioritized with commemorative Launch Edition builds.
By February 2024, crowdfunding investors had called “dibs” on all 2,000 initial production slots, raising nearly $34 million. Even so, Aptera’s co-founders relayed that more funding would be required to scale, and the company has been exploring additional funding streams since.
Earlier this month, Aptera introduced a new investment opportunity in the form of a self-directed IRA. Less than two weeks later, Aptera shared a deadline for crowdfunding opportunities as it looks to move forward with private funding from at least one of the larger players in FinTech investments.
Source: Aptera Motors/YouTube
Aptera will stop accepting crowdfunding on June 30
Per an email sent to reservation holders and newsletter subscribers, Aptera will close its Regulation A offering on June 30, 2024, capping off three years of crowdfunding that resulted in over $100 million from more than 17,000 investors.
Those faithful investors have secured a stake in Aptera’s future as it sunsets its crowdfunding program and turns to new horizons with private financial group US Capital. Aptera co-founder and co-CEO Chris Anthony spoke about the startup’s next phase in financial security as it gears up for scaled solar EV production:
The response to our Regulation A offering has been overwhelming, and we are grateful for the support of over 17,000 investors who share our passion for clean, efficient transportation. Their investments have been instrumental in propelling Aptera towards production readiness.
Aptera’s successful crowdfunding efforts have paved the way for the company to engage with US Capital to secure funding for the production of its Launch Edition vehicles. Through this fundraising initiative, Aptera aims to bring its innovative vehicles to market at scale in 2025.
We are excited to partner with US Capital as we enter this crucial phase of production funding. Their expertise and support will enable us to realize our vision of delivering solar electric vehicles that redefine the future of transportation.
As we’ve reported in the past, the startup remains interested in an IPO to help get production over the finish line, but a partnership with US Capital can help get Aptera into production of the initial Launch Editions and possibly beyond. Anthony gives the full scoop in Aptera’s update video below.
The deadline to invest in Aptera via crowdfunding is June 30, 2024, at 11:59 PM PT.
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Source link #Aptera #close #crowdfunding #Solar #production #private #financial #group
Plug Power has developed a Class 6, medium-duty fuel cell electric truck powered by hydrogen.
Suitable for middle-mile deliveries, the vehicle can travel up to 500 miles utilising an “industry-proven” electric propulsion system powered by Plug’s ProGen fuel cell technology.
In addition to its extended range, which will be crucial for middle-mile deliveries, the vehicle does not require a commercial driver’s license (CDL) for operation, making it more accessible.
The product is currently in its final integration and testing phase, with on-road operational pilots set to begin this summer (2024) in collaboration with Plug’s key market leader logistics customers. Its following phase will provide valuable real-world data and feedback.
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The US has now officially surpassed 5 million solar installations, a significant landmark in its shift toward clean energy, according to data released by the Solar Energy Industries Association (SEIA) and Wood Mackenzie.
The 5 million milestone comes just eight years after the US achieved its first million in 2016 – a stark contrast to the four decades it took to reach that initial milestone since the first grid-connected solar project in 1973.
Since the beginning of 2020, more than half of all US solar installations have come online, and over 25% have been activated since the Inflation Reduction Act became law 20 months ago. Solar arrays have been installed on homes and businesses and as utility-scale solar farms. The US solar market was valued at $51 billion in 2023.
SEIA president and CEO Abigail Ross Hopper said, “Today, 7% of homes in America have solar, and this number will grow to over 15% of US homes by 2030. Solar is quickly becoming the dominant source of electricity on the grid, allowing communities to breathe cleaner air and lead healthier lives.”
Even with changes in state policies, market trends indicate robust growth in solar installations across the US. According to SEIA forecasts, the number of solar installations is expected to double to 10 million by 2030 and triple to 15 million by 2034.
The residential sector represents 97% of all US solar installations. This sector has consistently set new records for annual installations over the past several years, achieving new highs for five straight years and in 10 out of the last 12 years. The significant growth in residential solar can be attributed to its proven value as an investment for homeowners who wish to manage their energy costs more effectively.
California is the frontrunner with 2 million solar installations, though recent state policies have significantly damaged its rooftop solar market. Meanwhile, other states are experiencing rapid growth. For example, Illinois, which had only 2,500 solar installations in 2017, now boasts over 87,000. Similarly, Florida has seen its solar installations surge from 22,000 in 2017 to 235,000 today.
By 2030, 22 states or territories are anticipated to surpass 100,000 solar installations. The US has enough solar installed to cover every residential rooftop in the Four Corners states of Colorado, Utah, Arizona, and New Mexico.
Read more: Check out the ‘world’s first’ DC-to-DC solar-powered EV charger
To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check outEnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get startedhere. – ad*
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Source link #milestone #exceeds #million #solar #installations
Tesla posted larger-than-average ATP (average transaction price) increases month-over-month in April, but its prices were lower year-over-year, reports Kelley Blue Book.
April saw Tesla post a month-over-month ATP increase of 5.7% compared to March, but the EV giant’s prices were lower year-over-year by 3.3%, according to EV transaction price data from Kelley Blue Book’s newly released April Average Transaction Price report.
Tesla prices have been a key driver of volatile price dynamics in both the luxury and EV markets because it’s the highest-volume seller in both segments. Tesla prices plummeted from $62,269 in January 2023 to $50,099 in December 2023, a decline of 19.5%.
EV transaction prices in April were essentially flat compared to March – up roughly 0.1% – at $55,252, an increase of only $75 from the prior month. Year-over-year, the average transaction price for an EV was down 8.5%, thanks in part to price pressure on EVs driven by slowing sales, healthy inventory, and more competition.
EV incentive packages remain well above the industry average, in many cases more than 15-20% of the average transaction price.
Some popular EVs posted significant year-over-year price reductions in April – Ford F-150 Lightning’s transaction prices were down 23%, Ford Mustang Mach-e’s were down 15%, Tesla Model Ys were down 12%, and Hyundai Ioniq 6s were down 10%.
However, most EVs presently transact for prices lower than a year ago by approximately 4-5%.
Read more: Higher Tesla Model 3 prices bumped up EV prices overall in March
To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check outEnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get startedhere. – ad*
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Source link #April #Tesla #prices #higher #monthovermonth #yearoveryear
German automaker Volkswagen has launched an upgraded version of its ID.3 electric compact car containing a stronger and more efficient electric motor, providing more power and economical consumption.
In Germany, the ID.3 Pro S model now delivers 170 kW as standard. Customers in other markets can decide after purchase whether they want to increase the basic output from 150 kW to 170 kW via its new power-on-demand option, the company said. Increasing the power to 170 kW improves 0 to 100 km/h acceleration to 7.1 seconds. The combined WLTP range for the ID.3 Pro S reaches up to 559 km.
The new model now has an improved e-route planner and the option of preconditioning the battery. The charging and thermal management function prepares the battery ahead of the next DC charging stop so that it is supplied with energy as quickly as possible on long distances. The battery is heated to the optimum temperature so that it can be charged with a maximum output of up to 175 kW, reducing the charging time by several minutes, particularly in winter. Pre-conditioning starts automatically on the way to the next quick-charging station when route guidance on the navigation system is active using the enhanced EV Route Planner. Otherwise, the function can be activated manually using the charging menu in the infotainment system.
“The ID.3 Pro S represents the consistent further development of our product portfolio based on the needs of our customers. For example, the model now has an improved e-route planner and the option of preconditioning the battery. These are functions that have already been very well received by drivers of the other ID. models,” said Imelda Labbé, Member of the Volkswagen Brand Board of Management responsible for Sales, Marketing and After Sales.
