SEV News & Events

Aptera Motors has completed the first vehicle off its validation assembly line, marking a major operational milestone as the company progresses toward regulatory certification and initial customer deliveries. The company's low-volume validation assembly line represents Aptera's transition from hand-built validation vehicles to a structured assembly line process. The line consists of 14 dedicated stations, where vehicles are assembled by a team of vehicle line technicians, enabling repeatable builds, process verification, and optimization. Vehicles produced on the low-volume validation line are allocated to specific testing programs, including thermal validation, brake performance, and some destructive testing. These efforts support the company's advancement toward regulatory self-certification, EPA certification, and progress toward delivering sellable vehicles.

Aptera Motors announced that its Carlsbad, California assembly facility received Foreign-Trade Zone, FTZ, designation. The FTZ program, administered by U.S. Customs and Border Protection, is designed to support U.S.-based assembly by allowing qualified companies to defer, reduce, or eliminate certain customs duties on imported materials used in domestic production. "The program is intended to enhance supply chain efficiency, improve global competitiveness, and streamline logistics operations for participating manufacturers," the company said.

Aptera Motors announced the pricing of its public offering for the purchase and sale of 4,500,000 shares of its Class B common stock together with common stock warrants to purchase up to 4,500,000 shares of Class B common stock. The public offering price is $2.00 per share and accompanying warrant. The common stock warrants will have an exercise price of $2.00 per share, will be exercisable immediately, and will expire five years from the issuance date. Gross proceeds from the offering are expected to be approximately $9M, before deducting placement agent fees and other offering expenses. If all of the warrants issued in the offering are exercised for cash, the Company could receive additional gross proceeds of up to approximately $9M, resulting in up to $18M gross proceeds to the Company. All of the securities in the offering are being sold by the Company. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering. The offering is expected to close on or about January 26, subject to customary closing conditions

"Our third quarter was focused on disciplined execution as we prepared for our transition to a public company," said Chris Anthony, Co-CEO of Aptera. "We've begun building out our validation line and managed our cash burn, supported by $2.5 million in grant funding from the California Energy Commission. With our subsequent Nasdaq listing and the $75 million equity line of credit now in place, we are focused on the next critical phase: securing the incremental capital needed to fund our validation program and move toward low-volume production."