The once-promising EV startup, Aptera Motors, has officially shut down and is preparing to begin formal liquidation proceedings. Although best known for its well-publicized but ultimately never-released two-seat Aptera 2e, the California-based firm had recently changed its corporate course and was planning to launch a more practical mid-sized sedan alternative that also featured a lightweight composite body, had a 130-mile per-charge range an anticipated 190 MPGe fuel economy equivalent and would have a base price of less than $30,000.

In a statement outlining his decision, Aptera Motors CEO Paul Wilbur indicated that while the organization had made great strides, the resources simply were not there to permit moving into the next phase of operation. "We were well on the way to satisfying the vision of efficiency on which the company was founded and we are confident that with time and capital we could still achieve our goal. The Aptera formula: aerodynamics plus light weight design (through composites) delivered efficiency of 206 EPA miles per gallon in tests at Argonne National Labs. That wasn't a simulation; it was real measured performance. Despite that promise of efficiency, this challenged market - specifically large private investors - did not have an appetite to lead an investment for the perceived low volume return of our three-wheeled vehicle. So we reprioritized our product plan to four-door sedans, which also cost us time." Last week, that time formally ran out.

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