Friday, December 2, 2011

Aptera Shuts Down

Carlsbad-based Aptera, the developer of a three wheeled, electric vehicle, has shut down. According to multiple sources, the firm is dissolving the company, after failing to find federal matching funds for its efforts. Aptera had been attempting to gain funding from the Department of Energy's Advanced Technology Vehicle Manufacturing (ATVM) loan program, after initially failing to be qualify in 2008 for the program due to having three, not four wheels. Aptera had been backed by Esenjay Investments, Google, Idealab, The Beall Family Trust, and The Simons Family.

---