MemberSeptember 10, 2021 at 10:13 am
The way you fix the dept problem is by going through bankruptcy. Chapter 7 the company, set up a new one to buy the IP in the bankruptcy sale and do a restart. That’s essentially what Aptera has done. The went under, sold the company to a Chinese company which did nothing with it and then a couple of years ago they bought the IP rights and name back.
I would assume that they are serious in their restart attempt, they probably saw what Aptera is doing and thought that they could give it a try also. Doesn’t mean that their chance of success is very good, the jury is out on Aptera also. I’d certainly rate Aptera’s chances a lot higher than Elio’s but it’s far from assured that they will succeed.