Aptera EV Shakeup and Delays Linked to Financial Problems

The road to electrification will have winners, losers and a fair number of shakeups before the rubber finally starts hitting the pavement next year. Funding remains a problem for most companies, and it’s led to introduction delays for a number of them.

Count Aptera as the latest delay. The company, which makes a futuristic, Jetsons-styled lithium-ion battery car called the 2e, is now confirming that it is pushing production back into 2010 (from this year). Despite a press release, it’s not really news. Two weeks ago in BNET Autos, we reported that it would probably happen.

“The company has backed away from a late 2009 delivery date for the first 2e cars,” I wrote November 2, “and now sees 2010 as a more realistic goal.” According to spokesman Marques McCammon, the company’s chief marketing officer, “We’d have to stretch to get some cars out in 2009, so there’s some chance of that slipping. But we will be on the road in 2010.”

Aptera apparently told me that without simultaneously informing its 4,000 depositors. On the Aptera forum, one of them named “Futura” noted my story and commented, “This is not really unexpected. For once, I’d like to hear it first, directly, from Aptera to depositors. Aptera still fumbles with its communication to depositors, I think.” Other posters sound skeptical about the company keeping to a schedule.

Company President and CEO Paul Wilbur said in the company’s Wednesday press release, “We now have to adjust our production schedule to align with financing realities. Properly managing the resources of the company means we’ll complete our first vehicles in 2010, not by the end of 2009 as previously projected.”

In late 2008, Wilbur said that the Aptera’s production and delivery “will be tied directly to funding.” Despite having raised $24 million from supporters such as Idealab and Google, Aptera’s been having trouble since the financial meltdown raising operating capital in the financial markets. That remains true, despite a recent favorable federal ruling that allows its three-wheeled cars to receive Department of Energy grants and loans.

The announcement was accompanied by news of a staff shakeoff. Co-founder Steve Fambro was said to be taking a leave of absence. Chris Anthony, who first had the idea (sketched on a napkin) for an aerodynamic vehicle that became the Aptera, said he was departing to concentrate on his other companies, Epic Boats and Flux Power. “We’ve got to be wholly focused on funding and getting the first 2e on the road,” Fambro said.

But the truth may include more conflict than the orderly transfer of power the company outlines. In his useful blog post at Wired.com, former Tesla employee Darryl Siry reports that there was a growing rift between Fambro and Anthony on the positive side and Wilbur on the negative—the founders thought the car was ready for production, but industry veteran Wilbur thought differently.

Wind-down windows were added to the gullwing doors, and that led to further changes. Tension grew over the founders’ desire to start delivering cars and get cash flowing. The board supported Wilbur in a showdown, Siry reports.

The Aptera 2e looks like an airplane without wings, has a range of 100 miles, and can reach 90 mph (with a sub-10-second zero-to-60 time). At least it will when and if it gets on the road.

Aptera photo by Jim Motavalli