this post was submitted on 18 May 2024
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Electric Vehicles
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A big red flag. A consumer buy now timer? A huge influencer campaign across youtube, and its non voting stock. In over 15 years the only thing the company has produced with over 100 million is 4 prototypes. The "factory", if you can call it that is nothing more than a series of presentation stations with some tape showing where the "assembly lines" will be in the future. I was initially interested and followed them on Youtube for 3 years, but its always, "yeah we're working on this and that" but I see no real progress. Maybe I'm wrong, but I have a feeling this version of Aptera will end badly as the last one did. In case you didn't know, both Google and Idealab invested in the first one over 15 years ago and wrote off their investment as a loss, and no major corporate backers since. US Capital is just a fundraising LLC. There is no mention of the size of the investment or the deal, so this looks to me like a cash grab to get the influencers paid. But hey, I'm just another dude on the internet. Maybe I'm wrong and its the new best thing since the Cybertruck.
I think the timer is a little pushy, but giving a warning before closing open investment isn't a bad thing. If they reopen crowdfunding after closing it now, I will share your suspicions.