Aptera › Community › Aptera Discussions › Chris Anthony will answer some of the frequently asked questions › Reply To: Chris Anthony will answer some of the frequently asked questions
MemberAugust 20, 2021 at 4:55 am
reddit: Rough notes for 8/19/21 Webinar with Chris Anthony
Aptera Investment webinar 8/19/21
Chris Anthony and Sarah Hardwick
Aspire to become public in 12-18 months. IPO or acquisition mechanism.
Total goal for this round of investment: $30 million. Strategic and private investors can contribute to this goal.
3700 investors in the last round in one week. Wefunder still sorting out the last investors from that initial round.
Current valuation is roughly $500 million.
Desires to have bulk of investment from crowd-funded sources. Chris’s ‘gut feeling’ is that this round will be enough to get them into production. May have another round after that if needed.
Cryptocurrency. As in right-to-repair, Aptera supports an individuals right to choose their investment method. Supports crypto in general. Now accepting bitcoin and etherium, dogecoin upcoming.
Funds from this round of investment will be used for: hired Pablo (VP manufacturing and supply chain), tooling, suppliers, non-recurrent engineering fees, building development vehicles.
Struggle getting into sizable manufacturing facility. Real estate people do not want to work with startups.
Just started body tooling for beta vehicles last week.
Over 120 contributors all over the world currently working for Aptera. Feel that engineers need to be initially close to the engineering facility, which is in San Diego. Wants to eventually have many small scattered factories instead of one large factory.
Tax Credits: Chris is very excited about coming federal/state incentives.
Multiple very detailed reports from Monroe and Associates have been delivered to Aptera on manufacturing process.
COVID has been a PITA. Suppliers not wanting to be involved with startups.
Chip shortage. It’s been a problem. Battery and BMS design progressing. Ordering chips in bulk now hoping to receive them in a year. Also able to order small batches at higher cost.
Rouche doing amazing work. Wrapped up door assembly design. Also working on rear suspension, front suspension finished a month ago. Anticipate much better driving with beta vehicles.
Hope to have available throughout world as soon as possible. For most markets there are exemptions for under a few thousand vehicles, so don’t anticipate delays.
Rollout order. 40kw, 25kw, 60kw, 100kw. May have small adjustments in battery size dependent upon how battery packs end up fitting in body. Will be communicated when known.
Audited/reviewed financials will be twice a year at this point per SEC requirements.
Chris and Steve do not aspire to have Aptera be acquired.
Manufacturing plant will be very different from typical large factory automation. Not looking to ‘over-automate’. Wants to have everything done by human in the beginning before automating process later on.
Looking forward. Larger 4 wheel, package delivery, semi, all possible solar powered vehicles.
Engineering focused webinar to come.