@@thomasbragg9378 How do you expect to be paid back if their investment presentation plain said they won't have revenue in 12 months and the raise is going at less than 1% the target rate? So Aptera now owes USCG investors $784K in less than 12 mo.
@thomasbragg9378 Can you share your thought process as to what made you invest in this vs. other choices? If Aptera fails before 2 years, do you lose the amount you invested? Big one: When you looked at the $30K BOM for the vehicle, did you assess that Aptera could be viable going forward based on their MSRP projections? You are likely the best person to ask as you’ve taken the offer.
As someone who tests things all day long, I would not want to have a camera over me with the public trying to analyze everything. In my testing, I break things or find where they are broken and then have the product improved. This may take many iterations and the public does not understand that. (It is hard enough for me to get my management to understand that it really is in their best interest for me find the breaking point instead of customers finding it and sometimes that just takes time.) My team has a different approach to what people think of when testing a product. We are not here to tell you how good the product is. You know that or at least should know that. We are here to tell you where you missed something and where the issues are before a customer finds them. There are lots of reasons why there could be an issue with the product. Having a camera over them for everyone to be an armchair quarterback would not be helpful at all.
The issue at hand is that Aptera has changed so much of the vehicle's design over the course of the last two years that we do not in fact know what the baseline for the vehicle will be. The initial purpose of the PI's is to prove their claims correct and, once that has been accomplished, then they can push the PI's to the point of failure.
@@chrisrudzinski6241 IMO I don't think they changed much at all since the alpha. Still looks like a stream line body and sure they had to modify things a bit but it still looks like the Aptera that we were expecting. Sure, they wanted IWM, but that didn't pan out, they still had a back up plan of a more traditional FWD electric motor. For me, the only deal breaker is if they changed the shape to a brick.
@@chrisrudzinski6241 I agree that there have been many changes over the last 2 years and some I have found concerning but also realize that they need to get off the pot and get a product out. The first release of anything is almost never the ideal design that was first conceived. This that said, the validation tests are critical. I do not expect the Cd to be 0.13 but more like 0.15. If everything else were the same, that takes the LE below 400 miles per charge and there is the change with the motor(s). I suspect we will see the LE drop down to the 300 mile range unless the unit of measure is 48 mph not 65. It will all depend how the LE is qualified. At this point, testing on a track makes perfect sense whereas testing on public roads (at this point) introduces lots of variables & risks. Best to get the planned track tests completed and released and then get PI-3 & PI-4 on the road for real world testing. Testing of PI-2 should be out of the public eye, at least real-time eye. A results summary is really needed for any serious investor in my view. Aptera is at a make or break point though this is not the only point they will encounter, just a very big one. 400 mile at EPA testing standards not 65 mph would be a win but that was not what we saw 2 years ago as a prediction. Aptera has been very careful not to identify the conditions at which the vehicle will achieve 400 miles on a charge. If the vehicle operates without HVAC running and with an outside temperature of 68F, no wind, 185 lbs driver, no passenger and averages 60 mph, it is likely that the Aptera will achieve 400 miles on a charge but that is ideal, not realistic. To your point, the testing will update the baseline and that needs to be done as soon as possible.
My guess is the PI builds are coming together "part by part". Each custom part is designed, sourced, negotiated, manufactured, shipped, assembled and tested. This process takes a small staff a lot of time. We Aptera fans are spoiled in wanting to see each part coming together. I don't know squat about the parts in my Tesla -- and never will. Thanks for the update.
Teetering on bankruptcy, Rivian recently raised $5 billion (with a B!) from the Volkswagen Group, another company teetering on bankruptcy, but Aptera can't raise $60 million to produce vehicles for the first few thousand people on its list of 40,000 preorders. WTF?
I am hoping that they are road testing the PI-2 Aptera currently. There seemed to be rumblings that there were some mechanical parts being held up in shipping that interfered with the PI build completion, but that may just be rumors. I hope that we hear a solid update and get PI-2 test result information before December. Cork is an interesting texture that would be an organic contrast to the CF, metal and hard plastic surfaces. But if they use cork there should be some way to remove it, in case the cork gets stained or otherwise degrades.
PI-2 was never intended to be on the road and only a track vehicle per Chris and Steve. From a cost perspective, insuring PI-2 for the road is not worth it and the tests that it was intended for can all be done on a track where plates and insurance are different. (A slow speed test in a parking lot does not require plates or insurance. Why a plate was put on the vehicle is an interesting question if it is not going on the road. Likely it was to make PI-2 look more complete.)
Agree about the cork. I'm assuming its a weight saving measure, but I can see durability being more of a factor compared to traditional plastic cup holders.
@@Tialian - I never knew that cupholders wore out and adding cork to a layer of injection molded plastic was a weight saving measure. Since Aptera is a multi generational vehicle, cork cupholders will last over a 100 years. Again, Aptera looking to the future.
USCG is extremely slow responding to prospective investors and has lack of follow up. When they finally respond, it is with inadequate, generic answers or documents. Besides USCG lack of attention to the Aptera raise, the conversion conditions are disappointing, presuming I interpreted them correctly. I have given the investment document today to an advisor for a second opinion and shall see. As it stands, based on my experience I am not surprised by the pathetically low capital raise. In fact, it confirms my fears. Hopefully I am mistaken about the conversion conditions as well as USCG.
Keep us posted. Be careful to watch the USCG sales pitch again and make a list of $$ values and dates for yourself. Pay attention to the part where $60M is not enough to start production. Also pay attention to BOM cost and research what typical auto industry margin requirement is. Visit Aptera and demand a 1hr drive (Gamma or newer) before full recharge to measure miles/kWh. Inquire development schedule for ABS and regenerative braking. You can thank me later ;-)
they have raised 1.2% of the desired amount of 60million, thats another way of looking at it. 700,000/60,000,000x100 = 1.2%, seems they are not doing very well from mature investors. What would be the reasons for that?
I wonder if 'Solar mobility for all'/make affordable high quality vehicles isn't a strong selling point as compared to 'Crazy money for early investors as we attempt to sell a good product at the highest profit margin possible!'
Might be helpful to briefly explain what a convertible note is. As for those buttons, that design seems cheap to me because it reminds me of those old 80s game controllers that had those shallow buttons you had to sometimes press really hard to get them to register.
Convertibles Notes are corporate loans with their predetermined interests that are repayable at maturation (outstanding loan and interest), OR, in lieu of cash repayment, can be converted into company common shares. Aptera is presently seeking $60M of such loans.
Do you think a big investment company is going to put money down without seeing a working PI vehicle? When the PI vehicles are out and road testing then we have a chance for the big bucks.
Once that cork gets dirty it's done. You'll never get it clean.It'll always be a sticky dirty mess. I do you like the texture in the car but Not. Daily driver Friendly.
There are foreign car manufacturers that do Not like the build a car & have a network or such related updates! Why not keep that going! Don’t re-invent the wheel…make Aptera a non/ network dependent auto.
They told us that the high speed testing would not occur until the external surfaces are installed. Has anyone seen a pi build complete with external surfaces (solar panels)?
My thought is that people are holding off investing because of the uncertainty with the Maxeon cells importing being halted and CPC being sold. If either company gives Aptera problems it will make waves with investors.
I'm excited for Aptera as this is a critical time for them. Lots of testing to perform, lots of validation, lots of opportunities to make those final tweaks before scaling production parts. The thing people don't understand is that by applying pressure to get things out faster, we inherently self sabotage our own safety as a result of our own impatience. In order to offset the burn rate of capital, some companies will rush parts to production and make revision changes over the lifetime of that part. This is a double-edged sword. To those of you who can't wait anymore, stop trying to rush the process, stop trying to apply pressure in an attempt to change the outcome in your favor. Have faith that Steve/Chris know what their doing and let things happen naturally. Don't let your own fears/insecurities cause you to create anxiety that results in creating a dangerous collective idea that risks Aptera reaching its goals.
Fans and critics shouldn’t be blamed for applying pressure or impatience. If Chris and Steve knew what they were doing they wouldn’t keep setting unrealistic timelines.
@@simonthedog7980 - I disagree. Chris and Steve are required to set unrealistic timelines as if they do not, funding will slow down and come to a halt. They know exactly what they are doing. Thus you see why the funding nearly doubled in a month and the cash on hand never changed a bit.
I'm convinced that CA and Steve among others have consistently demonstrated they don't know what they are doing. Their lack of ability and control of equity are the simplest explanation for Aptera failure.
This seems promising 😊 Not so sure cork for a cupholder would be good due to spillage, cork absorbing various fluids. I do like it otherwise, maybe as dashboard which would be fun
I think that Aptera provides more than enough transparency. We don't need daily updates, and having a constant livestream watching people do their job would be creepy. Would you want that at your workplace?
How about we look at it this way. The total amount requested is $60M and it went from 0.6% to 1.1% of what they have wanted to raise. We were told that between 60 to 90 days. Here we are at 113 days. So, I guess that the USCG guy was not just a bit off, but way off. Sounds like another episode of, "Let's fire up the excuse generator." As for why they are quiet, it relates to the point above. The are most likely working as hard as can be because they know we have the dreaded holidays coming up. Thanksgiving and then Christmas. Luckily in Europe they have no idea what Thanksgiving is, so they will keep working. Come a week before Christmas all the way through a week after New Years, expect zero to get done there. They check out and most are not allowed to work anyway (at least for the industries they need to work with). Looking at the numbers, going from 0.6% to 1.1% is not looking good. So they need to produce some results really fast. If not they will run out of money. Plus, you seem to leave out that the cash on hand number has not changed in a month. I guess they just stopped paying all of their bills?
No more adaptations , looks fine the way it is! With the national highway traffic safety administration NHTSA approval., it should do fine as it is. The accessories are like an aftermarket option…they appeal to those with desires not needs.
Cork is an interesting choice. It is a nice material for the reasons you mention. But it does stain easily, which is bound to happen with a cup holder. That being said, it probably can be replaced fairly easily. Yes, some time ago, I suggested on Discord that CM wear a livestream GoPro head harness while he's on the production floor --- and call it the McCamm Cam. Maybe even charge a connect fee for a little extra revenue stream. 😅
I think that we need to start a mass campaign to let Aptera know they need to not use cork and go for a major redesign and research into another material. Since funding is nearly doubling and the Pi2 can drive around a parking lot, Aptera is pretty much done with all engineering work and testing. Now it's time to go after the details. What is the substitute we all want?
@@billsmith5960 You are truly a dick in a cool way. Love your efforts, honestly. Entertaining as f_ck. I should start looking for a flat six -powered bus in your honor.
@@bobhellman8676 - It's like when you are at the Daytona 24 and some dude stuffs the car into the tire barrier in the international horseshoe with 5 minutes left in the night practice. Then when the car comes back on the rollback and now the crew has to do an all nighter yet the driver has just one last request. It's that the seat needs to be moved up a bit because he's a little uncomfortable with it. Now that he's only clocked lots of hours in the car before stuffing it into the wall, he decides at that moment, to bring this up. Then he is ready to leave and go for a nice dinner and then some sleep. Just getting the car back up and functioning is not enough, now it's a last minute request that pretty much becomes the center of attention. Yes, it's easy to really become sarcastic because working with a priority list (#1 is to get the car functioning) is not good enough when someone comes in with a red sharpie and throws that last detail at the top. So, I'm glad we are worrying about the cork and buttons.
My prediction model is doubling of USCG total with each new PI build milestone, counting only the first milestone achieved by each PI vehicle. When PI-2 achieved its low speed test milestone, the USCG total doubled from $200k to $400k. With the reported $700k update, the next new PI vehicle milestone is imminent, followed by an increase of the USCG total to $800k. The $60M goal should be reached between the 8th and 9th new PI build milestone.
Probably nothing will happen to your shares until Aptera is listed on a stock market or goes bankrupt. Same as other unlisted companies. If you find someone who wants to buy your shares for a price you accept, then contact Aptera and see if they authorize the change of ownership of the shares, for a fee perhaps. No guarantees.
I'm not a finance expert. The issue is that all the prior donor coupons don't represent any equity so they can't be worth anything. If/when owners finally sell equity, they will assign a small portion to prior stock sales and sell a lot more equity.
Has the main headlight assembly shown up yet? Has there been any significant overview of the latest cooling system? Basically asking if they have all the parts in-house to do a representative range test once things are together. Concerns that need to be addressed... They have forever referred to this variant as the "400 mile version". With the motor, cooling, deletion of those rows of cells down the length (45 kWh became 42 kWh if I remember correctly) and "other" changes, they could be admirably 2X the efficiency of a Model 3 LR and not hit it's EPA 363 mile range. Which would be terrible. A) It's not a 400 mile model, and b) It doesn't showcase the efficiency to the layperson. If you say "It's twice as efficient as a Model 3" and it doesn't go significantly further, what average person will get it? If it takes more time to charge it back up (than a Model 3) then how does that promote the concept? Ideal would have been the 2190 cells, in my opinion. Those would seem to be coming up as available. If you could say it's highly efficient and it goes 450 miles, people would be far more impressed, no? If it's wider than a 3, less safe than a 3, costs more than a 3, has less passenger space than a 3, and on top of that doesn't go further than a 3, you're down to "But you save 2 cents/mile!". Not a stellar argument.
@@artsmith103 Have faith in the outcome. You could go on endlessly regarding your background, rationale, and actual experiences and it will fall on deaf ears vs. Kool-Aid. But reality will prevail! Glad you got your PE.
@artsmith103 On cost/mile, I realized this AM that things are pretty reasonable these days, compared to my own personal cost/mile. When I hit ShakeShack on the way back from Philly last week, Mike’s Pastry on the last trip before heading out of Boston, and it will be La Mia’s Pizza on the way back from Midtown this week, my cost per mile for snacks is on par with our F150 SuperCrew. So whatever extra efficiency Aptera might provide isn’t particularly relevant over a Model 3, the Model 3 being so much better than the F150. I consume way more per mile. So that’s why I’m about the Telo. Use that instead of the F150 and that’s about as far as I need to reduce things. Beyond that, more responsible snack choices would have far greater impact on the overall cost/mile.
How about Jeff Bezos? He's into EV's big time and done lots of investment in them. Then Warren Buffet. He's also into EV's big time. Let's not forget Bill Gates. He wants to save the planet, so Aptera is perfect for him.
@billsmith5960 gotta solve the the puzzle, more difficult than engineering! 😁 hopefully some Redditor on here reaches them organically..would be great for Aptera, great for San Diego; would be an honor to see Aptera's influence ripple throughout from my hometown.
@@BlueManRedManYellow my guess is that it is about four orders of magnitude more than you have invested. That is assuming that you even have a reservation and being generous in calling the reservation fee an investment.
Man can you please make video on aptera 1000 Miles calim with prove. they have prototype. how much miles were they able to drive on single charge. I cant get answer to this. i dont think this needs commercial ready car to test this. what was number on those cars?
I already get 1000 mile range with my RV. All I have to do is just coast downhill. Unless Aptera uses a test that goes by an SAE standard, then they can make their own test and get whatever numbers they want. Plus not using a production model even makes more sense. Why do that as it might not get the numbers they want.
Sad that it's not gaining traction faster. Taliosive had a pretty good podcast on why the builds might not be moving as fast as we all would want and that's more of a supply chain issue and that seems to be frustrating some people at Aptera a bit. Because suppliers will prioritize larger buyers over smaller or start ups. But we just have to keep plugging along... THe cork cup holder will probably be the first part to replace in the Aptera. :)
Probably should have gone with a different title IMO, it undermines the credibility of the channel when you frame it in this way. I understand it is not a lie, but it is a clear decision on your part to name the video is such a way. I want Aptera to get funded just as much as the next guy, but it comes off as click bait, and only serves to get uninformed peoples hopes up only to dash them when they look at the numbers and realize that "almost double" of .5% of the overall goal is not really something to celebrate after how long this process has been going on.
@jhallpk In Steve's defense, he only has to work with what he's given. Reminder that AOC, Aptera "Owners' "Club, has a baseline of "optimistic and supportive fan channel" because there are, of course, no owners beyond Aptera's partial development efforts (which they own for now). Steve does a great, and at times, thankless second-guessed job. At the true core of your concern is that Aptera came closer to public reality than ever before with their USCG disclosure that their program is not viable (if you understand manufacturing). Specifically, their $30K BOM/process will never result in their fulfilled promise of a $33K LE. They have a $75K MSRP specialty low volume fringe vehicle at best. That requires another $100 million in tooling, and inception investment, which is unlikely. Don't blame Steve, blame Aptera founders.
I'm considered an Aptera critic and all I do is process Aptera info through the most accurate engineering analysis I can offer. Often it's simply identifying their vocabulary that exposes their inability. I think AOC's effort here is as good as can be expected.
@@artsmith103 Steve has become much more of a realist. I hope he starts a Telo Owners Club when Aptera sh_t tanks. What's interesting to me is that most Aptera critics were set to buy one if Aptera remotely met their claims- we just have a higher credibilty standard than the Kool-Aiders. My wife got me the hoodie and I bought the die-cast. I would likely pick up a real one for the entertainment value alone, after watching this debacle for years, despite the fact that I think that an 88" wide cosmetic-faired 3-wheeler is about the dumbest thing anyone has ever proposed as a road-going vehicle.
@@bobhellman8676 I was never interested in Elio but the Aptera hybrid got my attention at the proposed price and even 100 mpg was encouraging. The third wheel track was a concern so I hesitated to place a deposit. I was solid curious watching how things developed. The EV didn't interest me as much but back to curious. I installed ground-mount gridtie solar in 2018 after some 2yrs of planning, looking for equitable option. I started a monthly performance report for my network of enthusiasts. I really learned performance numbers and helped 4 more arrays get installed with help of my data. Aptera's early projected competence in solar was severely lacking. Then as cooling and other fluids type topics came up....well my 30yr specialty is heat transfer, fluid mechanics, and reactor design. I heard every misdotted i or miscrossed t like it came from a bullhorn. Other specialist will have to speak to mechanics like suspension, power, steering, crash safety, etc. Fanboys need to be careful about every claim made. In years, never demoed: 240V charging and associated BMS, solar charging and array performance rating, miles/kWh, regenerative braking, motor and inverter climate control, cabin HVAC, brake stopping, crash safety. Channels like Ben Builds Things deliver a vehicle in 6mo and demo testing most of those things the 1st day. I confirmed most of those things with my PHEV in the 1st 2 days. I've confirmed performance of ebike in the first hour. Everyone does this, that's the whole point. Aptera has been a complete failure.
Are you still planning on visiting them? Someone needs to do a walk through and report back. Drew is a useless simp at this point and watching him is painful. I along with others are very disappointed in how much Aptera is not sharing the progress. People want real pictures, real updates, and far more openness. Oh, thank you for show off that design by 11 page - really cool stuff on that.
Unless your a shareholder at this point, they really don't need to show you anything. No company wants to show how the sausage is made and they probably really don't want anything disclosed that they don't want disclosed. On Drew's latest podcast he went into a bit more of his time over at Aptera and now has even said he's sold his stock in Aptera and Tesla to show more of an unbiased reporting. But he's still a fanboy of these companies, and I don't think there's anything wrong with that. But there has to be a trust that goes both ways to allow him to have access. As a shareholder and fanboy of Aptera, I don't want any news coming out of it that could be blown out of proportion that makes it seem like they're ready to close it all up, because, that's what would happen. And that would disappoint everyone.
Areed! You are the most credible and balanced Aptera commenter. Drew is OK if showmanship is acceptable, but he is not knowledgeable or credible with serious Aptera observers. We need your "Take" on Aptera without the theatrics. Aptera is your turf. Telo is Drew's
I've been planning a visit down there for months now. Looks like it won't happen until next year. They are very busy and I don't anticipate any meaningful information from a visit until early next year at which time I'm hoping they will have a fully functional pi vehicle.
@@ApteraOwnersClub I had 2 weeks of vacation these last 2 weeks. I wanted to use one of my investment perks and to visit their factory. Back in September I had inquired about visiting in November. They told me to ask closer to the date I would come. I asked 2-3 weeks before I wanted to come, and they told me they were putting a pause on visits, that their engineers were focusing on validating and testing their Pi builds and need a quiet and distraction free environment to work. They did mention that they were going to bring their vehicles around to different locations for people to see and they would be announcing these events "very soon".
fwiw my convertible note purchase process began Aug 12 when i signed the NDA, and funding was acknowledged received Sep 23.
Thought it dubious that it would take so long… thx for the info (& investment).
@@gr8dvd kyc investor vetting, signing all the papers, etc. took a while, in my opinion it could have gone faster but it wasn't so bad
If their rate of sale is 400K every 6 weeks, that is very slow.
@@thomasbragg9378 How do you expect to be paid back if their investment presentation plain said they won't have revenue in 12 months and the raise is going at less than 1% the target rate? So Aptera now owes USCG investors $784K in less than 12 mo.
@thomasbragg9378 Can you share your thought process as to what made you invest in this vs. other choices?
If Aptera fails before 2 years, do you lose the amount you invested?
Big one: When you looked at the $30K BOM for the vehicle, did you assess that Aptera could be viable going forward based on their MSRP projections?
You are likely the best person to ask as you’ve taken the offer.
As someone who tests things all day long, I would not want to have a camera over me with the public trying to analyze everything. In my testing, I break things or find where they are broken and then have the product improved. This may take many iterations and the public does not understand that. (It is hard enough for me to get my management to understand that it really is in their best interest for me find the breaking point instead of customers finding it and sometimes that just takes time.) My team has a different approach to what people think of when testing a product. We are not here to tell you how good the product is. You know that or at least should know that. We are here to tell you where you missed something and where the issues are before a customer finds them. There are lots of reasons why there could be an issue with the product.
Having a camera over them for everyone to be an armchair quarterback would not be helpful at all.
The issue at hand is that Aptera has changed so much of the vehicle's design over the course of the last two years that we do not in fact know what the baseline for the vehicle will be. The initial purpose of the PI's is to prove their claims correct and, once that has been accomplished, then they can push the PI's to the point of failure.
@@chrisrudzinski6241 IMO I don't think they changed much at all since the alpha. Still looks like a stream line body and sure they had to modify things a bit but it still looks like the Aptera that we were expecting. Sure, they wanted IWM, but that didn't pan out, they still had a back up plan of a more traditional FWD electric motor. For me, the only deal breaker is if they changed the shape to a brick.
@@chrisrudzinski6241 I agree that there have been many changes over the last 2 years and some I have found concerning but also realize that they need to get off the pot and get a product out. The first release of anything is almost never the ideal design that was first conceived. This that said, the validation tests are critical. I do not expect the Cd to be 0.13 but more like 0.15. If everything else were the same, that takes the LE below 400 miles per charge and there is the change with the motor(s). I suspect we will see the LE drop down to the 300 mile range unless the unit of measure is 48 mph not 65. It will all depend how the LE is qualified. At this point, testing on a track makes perfect sense whereas testing on public roads (at this point) introduces lots of variables & risks. Best to get the planned track tests completed and released and then get PI-3 & PI-4 on the road for real world testing. Testing of PI-2 should be out of the public eye, at least real-time eye. A results summary is really needed for any serious investor in my view. Aptera is at a make or break point though this is not the only point they will encounter, just a very big one. 400 mile at EPA testing standards not 65 mph would be a win but that was not what we saw 2 years ago as a prediction. Aptera has been very careful not to identify the conditions at which the vehicle will achieve 400 miles on a charge. If the vehicle operates without HVAC running and with an outside temperature of 68F, no wind, 185 lbs driver, no passenger and averages 60 mph, it is likely that the Aptera will achieve 400 miles on a charge but that is ideal, not realistic. To your point, the testing will update the baseline and that needs to be done as soon as possible.
I agree with you. Doing a live stream of their building PI 2 would be a most imprudent thing to do.
@ddessert6 Is there really anyone who would willingly agree to having a camera on them during their entire work day?
My guess is the PI builds are coming together "part by part". Each custom part is designed, sourced, negotiated, manufactured, shipped, assembled and tested. This process takes a small staff a lot of time. We Aptera fans are spoiled in wanting to see each part coming together. I don't know squat about the parts in my Tesla -- and never will. Thanks for the update.
Teetering on bankruptcy, Rivian recently raised $5 billion (with a B!) from the Volkswagen Group, another company teetering on bankruptcy, but Aptera can't raise $60 million to produce vehicles for the first few thousand people on its list of 40,000 preorders. WTF?
I am hoping that they are road testing the PI-2 Aptera currently. There seemed to be rumblings that there were some mechanical parts being held up in shipping that interfered with the PI build completion, but that may just be rumors. I hope that we hear a solid update and get PI-2 test result information before December. Cork is an interesting texture that would be an organic contrast to the CF, metal and hard plastic surfaces. But if they use cork there should be some way to remove it, in case the cork gets stained or otherwise degrades.
PI-2 was never intended to be on the road and only a track vehicle per Chris and Steve. From a cost perspective, insuring PI-2 for the road is not worth it and the tests that it was intended for can all be done on a track where plates and insurance are different. (A slow speed test in a parking lot does not require plates or insurance. Why a plate was put on the vehicle is an interesting question if it is not going on the road. Likely it was to make PI-2 look more complete.)
Good to see we can blame shipping. Might as well, it justifies the reason to wait and the lack of funding coming in. What's next to blame?
Agree about the cork. I'm assuming its a weight saving measure, but I can see durability being more of a factor compared to traditional plastic cup holders.
@@Tialian - I never knew that cupholders wore out and adding cork to a layer of injection molded plastic was a weight saving measure. Since Aptera is a multi generational vehicle, cork cupholders will last over a 100 years. Again, Aptera looking to the future.
USCG is extremely slow responding to prospective investors and has lack of follow up. When they finally respond, it is with inadequate, generic answers or documents. Besides USCG lack of attention to the Aptera raise, the conversion conditions are disappointing, presuming I interpreted them correctly. I have given the investment document today to an advisor for a second opinion and shall see. As it stands, based on my experience I am not surprised by the pathetically low capital raise. In fact, it confirms my fears. Hopefully I am mistaken about the conversion conditions as well as USCG.
Keep us posted. Be careful to watch the USCG sales pitch again and make a list of $$ values and dates for yourself. Pay attention to the part where $60M is not enough to start production. Also pay attention to BOM cost and research what typical auto industry margin requirement is. Visit Aptera and demand a 1hr drive (Gamma or newer) before full recharge to measure miles/kWh. Inquire development schedule for ABS and regenerative braking.
You can thank me later ;-)
That is still a long way to $60M. We need some of those bitcoin millionaires.
Yeah, double of nothing is still nothing :(
BTC millionaires are shrewd investors.
Ya mean like the dude who bought a 39¢ banana for $6.2 MILLION!
Unfortunately, I am still some way off my first million in BTC.
That's only 10 bananas taped to the wall.
they have raised 1.2% of the desired amount of 60million, thats another way of looking at it.
700,000/60,000,000x100 = 1.2%, seems they are not doing very well from mature investors.
What would be the reasons for that?
I wonder if 'Solar mobility for all'/make affordable high quality vehicles isn't a strong selling point as compared to 'Crazy money for early investors as we attempt to sell a good product at the highest profit margin possible!'
Thanks for the update Steve.
Might be helpful to briefly explain what a convertible note is.
As for those buttons, that design seems cheap to me because it reminds me of those old 80s game controllers that had those shallow buttons you had to sometimes press really hard to get them to register.
Convertibles Notes are corporate loans with their predetermined interests that are repayable at maturation (outstanding loan and interest), OR, in lieu of cash repayment, can be converted into company common shares. Aptera is presently seeking $60M of such loans.
ruclips.net/video/z-CVcJoYGVY/видео.html
So they went from 0.5% of their goal to 1.0% of their goal in a month!?!?!??!
I am sure there will be a November update, probably on 28th November. We will learn the status of the PI builds then. Fingers crossed.
When do we admit US capital isn't going to get the funds in time?
When funds-on-hand hit zero… ‘til then just takes 1 oligarch to forgo 1 extra yacht or vacation home and Aptera’s on to full production.
Do you think a big investment company is going to put money down without seeing a working PI vehicle? When the PI vehicles are out and road testing then we have a chance for the big bucks.
I don't think of cork as being a particularly durable material. Also, doesn't cork stain easily?
I'd rather have rubber or plastic.
Once that cork gets dirty it's done. You'll never get it clean.It'll always be a sticky dirty mess. I do you like the texture in the car but Not.
Daily driver Friendly.
It is probably the type of cork that is used for flooring which has a 50 year life
I would rather have a dark color TPE elastomer like most of the industry uses. Make it removable and wash it in the sink.
I think there's a balance that needs to be struck between updates and work. If someone's constantly updating us, then they aren't working on the car.
There are foreign car manufacturers that do Not like the build a car & have a network or such related updates! Why not keep that going! Don’t re-invent the wheel…make Aptera a non/ network dependent auto.
Is PI 4 the last to be produced? I sure hope I’m still alive in 2026 or 2027 when I’m 77 years old!😊
hang in there big guy
They told us that the high speed testing would not occur until the external surfaces are installed. Has anyone seen a pi build complete with external surfaces (solar panels)?
Nobody yet.
A Live Stream would be a great idea.
If Aptera was a transparent company they would. Yet they are not.
@billsmith5960 Patience, my friend.
@@andremcamara3120 - It does take a long time to set up a webcam. Plus the expense of the computer to do that and an internet connection.
My thought is that people are holding off investing because of the uncertainty with the Maxeon cells importing being halted and CPC being sold. If either company gives Aptera problems it will make waves with investors.
Aptera lawsuit would be in that league
I'm excited for Aptera as this is a critical time for them. Lots of testing to perform, lots of validation, lots of opportunities to make those final tweaks before scaling production parts.
The thing people don't understand is that by applying pressure to get things out faster, we inherently self sabotage our own safety as a result of our own impatience.
In order to offset the burn rate of capital, some companies will rush parts to production and make revision changes over the lifetime of that part. This is a double-edged sword.
To those of you who can't wait anymore, stop trying to rush the process, stop trying to apply pressure in an attempt to change the outcome in your favor.
Have faith that Steve/Chris know what their doing and let things happen naturally. Don't let your own fears/insecurities cause you to create anxiety that results in creating a dangerous collective idea that risks Aptera reaching its goals.
Or, don't "have faith."
Fans and critics shouldn’t be blamed for applying pressure or impatience. If Chris and Steve knew what they were doing they wouldn’t keep setting unrealistic timelines.
@@simonthedog7980 - I disagree. Chris and Steve are required to set unrealistic timelines as if they do not, funding will slow down and come to a halt. They know exactly what they are doing. Thus you see why the funding nearly doubled in a month and the cash on hand never changed a bit.
I'm convinced that CA and Steve among others have consistently demonstrated they don't know what they are doing. Their lack of ability and control of equity are the simplest explanation for Aptera failure.
$700,000 That's 1.67% of $60M
Love the webcam idea as long as it’s not the same one being used on the eagles; they can be territorial.
This seems promising 😊
Not so sure cork for a cupholder would be good due to spillage, cork absorbing various fluids. I do like it otherwise, maybe as dashboard which would be fun
I think that Aptera provides more than enough transparency. We don't need daily updates, and having a constant livestream watching people do their job would be creepy. Would you want that at your workplace?
How about we look at it this way. The total amount requested is $60M and it went from 0.6% to 1.1% of what they have wanted to raise. We were told that between 60 to 90 days. Here we are at 113 days. So, I guess that the USCG guy was not just a bit off, but way off. Sounds like another episode of, "Let's fire up the excuse generator."
As for why they are quiet, it relates to the point above. The are most likely working as hard as can be because they know we have the dreaded holidays coming up. Thanksgiving and then Christmas. Luckily in Europe they have no idea what Thanksgiving is, so they will keep working. Come a week before Christmas all the way through a week after New Years, expect zero to get done there. They check out and most are not allowed to work anyway (at least for the industries they need to work with).
Looking at the numbers, going from 0.6% to 1.1% is not looking good. So they need to produce some results really fast. If not they will run out of money. Plus, you seem to leave out that the cash on hand number has not changed in a month. I guess they just stopped paying all of their bills?
If the cup holder has cork at the base, is that easy to clean? Cup holders can get pretty gunked up from small spills over time.
No more adaptations , looks fine the way it is! With the national highway traffic safety administration NHTSA approval., it should do fine as it is. The accessories are like an aftermarket option…they appeal to those with desires not needs.
Cork is an interesting choice. It is a nice material for the reasons you mention. But it does stain easily, which is bound to happen with a cup holder. That being said, it probably can be replaced fairly easily.
Yes, some time ago, I suggested on Discord that CM wear a livestream GoPro head harness while he's on the production floor --- and call it the McCamm Cam. Maybe even charge a connect fee for a little extra revenue stream. 😅
I think that we need to start a mass campaign to let Aptera know they need to not use cork and go for a major redesign and research into another material. Since funding is nearly doubling and the Pi2 can drive around a parking lot, Aptera is pretty much done with all engineering work and testing. Now it's time to go after the details. What is the substitute we all want?
@@billsmith5960 wow!
@@billsmith5960 You are truly a dick in a cool way. Love your efforts, honestly. Entertaining as f_ck. I should start looking for a flat six -powered bus in your honor.
@@bobhellman8676 - It's like when you are at the Daytona 24 and some dude stuffs the car into the tire barrier in the international horseshoe with 5 minutes left in the night practice. Then when the car comes back on the rollback and now the crew has to do an all nighter yet the driver has just one last request. It's that the seat needs to be moved up a bit because he's a little uncomfortable with it. Now that he's only clocked lots of hours in the car before stuffing it into the wall, he decides at that moment, to bring this up. Then he is ready to leave and go for a nice dinner and then some sleep.
Just getting the car back up and functioning is not enough, now it's a last minute request that pretty much becomes the center of attention. Yes, it's easy to really become sarcastic because working with a priority list (#1 is to get the car functioning) is not good enough when someone comes in with a red sharpie and throws that last detail at the top. So, I'm glad we are worrying about the cork and buttons.
My prediction model is doubling of USCG total with each new PI build milestone, counting only the first milestone achieved by each PI vehicle.
When PI-2 achieved its low speed test milestone, the USCG total doubled from $200k to $400k.
With the reported $700k update, the next new PI vehicle milestone is imminent, followed by an increase of the USCG total to $800k. The $60M goal should be reached between the 8th and 9th new PI build milestone.
That sounds like a great model. Let Aptera know about it.
Might be time for another episode of "Troll Humter," Steve.
I think the next update will be a Beta looking PI2 track video. That's what I heard from the Drew update on Tailos.
Good to know some additional funds have come in, but we want to see that number go through the roof!! Thank you Steve.
Sadly those funds don’t even cover a month worth of operating costs
@@RomanChaar exactly. it's a month-end net loss of capital. This is not sustainable. They need a big investor, or they are dead in the water
I feel IF this makes it to market, the more it will cost to purchase. 😐
Does anyone know what will happen with the shares we bought several years ago. I think I spent $5000 during that offering.
Probably nothing will happen to your shares until Aptera is listed on a stock market or goes bankrupt. Same as other unlisted companies.
If you find someone who wants to buy your shares for a price you accept, then contact Aptera and see if they authorize the change of ownership of the shares, for a fee perhaps. No guarantees.
I'm not a finance expert. The issue is that all the prior donor coupons don't represent any equity so they can't be worth anything. If/when owners finally sell equity, they will assign a small portion to prior stock sales and sell a lot more equity.
Senseless to use convertible notes on a hardtop.
🤣
😂
I'm looking forward to selling my Tesla and buying an Aptera.
Has the main headlight assembly shown up yet?
Has there been any significant overview of the latest cooling system?
Basically asking if they have all the parts in-house to do a representative range test once things are together.
Concerns that need to be addressed...
They have forever referred to this variant as the "400 mile version".
With the motor, cooling, deletion of those rows of cells down the length (45 kWh became 42 kWh if I remember correctly) and "other" changes, they could be admirably 2X the efficiency of a Model 3 LR and not hit it's EPA 363 mile range.
Which would be terrible. A) It's not a 400 mile model, and b) It doesn't showcase the efficiency to the layperson.
If you say "It's twice as efficient as a Model 3" and it doesn't go significantly further, what average person will get it? If it takes more time to charge it back up (than a Model 3) then how does that promote the concept?
Ideal would have been the 2190 cells, in my opinion. Those would seem to be coming up as available.
If you could say it's highly efficient and it goes 450 miles, people would be far more impressed, no?
If it's wider than a 3, less safe than a 3, costs more than a 3, has less passenger space than a 3, and on top of that doesn't go further than a 3, you're down to "But you save 2 cents/mile!". Not a stellar argument.
bob doesn't know. don't tell bob
@@casylong8383Yo, master of all tree stumps. Did you invest in this?
I'm reading down through the comment, thinking hey, this is better than usual. Then look up, oh it's you :-)
@@artsmith103 Have faith in the outcome. You could go on endlessly regarding your background, rationale, and actual experiences and it will fall on deaf ears vs. Kool-Aid. But reality will prevail! Glad you got your PE.
@artsmith103 On cost/mile, I realized this AM that things are pretty reasonable these days, compared to my own personal cost/mile. When I hit ShakeShack on the way back from Philly last week, Mike’s Pastry on the last trip before heading out of Boston, and it will be La Mia’s Pizza on the way back from Midtown this week, my cost per mile for snacks is on par with our F150 SuperCrew.
So whatever extra efficiency Aptera might provide isn’t particularly relevant over a Model 3, the Model 3 being so much better than the F150. I consume way more per mile.
So that’s why I’m about the Telo. Use that instead of the F150 and that’s about as far as I need to reduce things. Beyond that, more responsible snack choices would have far greater impact on the overall cost/mile.
Need 1M each from 60 well-off progressive celebs that would want to get solar mobilty moving by next year
How about Jeff Bezos? He's into EV's big time and done lots of investment in them. Then Warren Buffet. He's also into EV's big time. Let's not forget Bill Gates. He wants to save the planet, so Aptera is perfect for him.
@billsmith5960 gotta solve the the puzzle, more difficult than engineering! 😁 hopefully some Redditor on here reaches them organically..would be great for Aptera, great for San Diego; would be an honor to see Aptera's influence ripple throughout from my hometown.
It goes to 11.
delivery gunna be pushed yet another year
"almost doubled" is the most charitable framing humanly possible. What a disappointment.
It's like 1% of the 60mil. Pathetic
@@BlueManRedManYellow my guess is that it is about four orders of magnitude more than you have invested. That is assuming that you even have a reservation and being generous in calling the reservation fee an investment.
@@wingsounds13 You're under the delusion that the founders were ever cabable of fulfilling their promises.
LoL "Bibi" was trending.
Man can you please make video on aptera 1000 Miles calim with prove. they have prototype. how much miles were they able to drive on single charge. I cant get answer to this. i dont think this needs commercial ready car to test this. what was number on those cars?
I already get 1000 mile range with my RV. All I have to do is just coast downhill. Unless Aptera uses a test that goes by an SAE standard, then they can make their own test and get whatever numbers they want. Plus not using a production model even makes more sense. Why do that as it might not get the numbers they want.
I think if they had a live stream i’d lose my job because i’d be watching 24/7.
Geek porn 😀
Sad that it's not gaining traction faster. Taliosive had a pretty good podcast on why the builds might not be moving as fast as we all would want and that's more of a supply chain issue and that seems to be frustrating some people at Aptera a bit. Because suppliers will prioritize larger buyers over smaller or start ups. But we just have to keep plugging along... THe cork cup holder will probably be the first part to replace in the Aptera. :)
Probably should have gone with a different title IMO, it undermines the credibility of the channel when you frame it in this way. I understand it is not a lie, but it is a clear decision on your part to name the video is such a way. I want Aptera to get funded just as much as the next guy, but it comes off as click bait, and only serves to get uninformed peoples hopes up only to dash them when they look at the numbers and realize that "almost double" of .5% of the overall goal is not really something to celebrate after how long this process has been going on.
@jhallpk In Steve's defense, he only has to work with what he's given. Reminder that AOC, Aptera "Owners' "Club, has a baseline of "optimistic and supportive fan channel" because there are, of course, no owners beyond Aptera's partial development efforts (which they own for now). Steve does a great, and at times, thankless second-guessed job.
At the true core of your concern is that Aptera came closer to public reality than ever before with their USCG disclosure that their program is not viable (if you understand manufacturing). Specifically, their $30K BOM/process will never result in their fulfilled promise of a $33K LE. They have a $75K MSRP specialty low volume fringe vehicle at best. That requires another $100 million in tooling, and inception investment, which is unlikely.
Don't blame Steve, blame Aptera founders.
I'm considered an Aptera critic and all I do is process Aptera info through the most accurate engineering analysis I can offer. Often it's simply identifying their vocabulary that exposes their inability. I think AOC's effort here is as good as can be expected.
@@artsmith103 Steve has become much more of a realist. I hope he starts a Telo Owners Club when Aptera sh_t tanks.
What's interesting to me is that most Aptera critics were set to buy one if Aptera remotely met their claims- we just have a higher credibilty standard than the Kool-Aiders.
My wife got me the hoodie and I bought the die-cast. I would likely pick up a real one for the entertainment value alone, after watching this debacle for years, despite the fact that I think that an 88" wide cosmetic-faired 3-wheeler is about the dumbest thing anyone has ever proposed as a road-going vehicle.
Steve is doing the best he can with what he has to work with. Think of him as a haruspex.
@@bobhellman8676 I was never interested in Elio but the Aptera hybrid got my attention at the proposed price and even 100 mpg was encouraging. The third wheel track was a concern so I hesitated to place a deposit. I was solid curious watching how things developed. The EV didn't interest me as much but back to curious. I installed ground-mount gridtie solar in 2018 after some 2yrs of planning, looking for equitable option. I started a monthly performance report for my network of enthusiasts. I really learned performance numbers and helped 4 more arrays get installed with help of my data. Aptera's early projected competence in solar was severely lacking. Then as cooling and other fluids type topics came up....well my 30yr specialty is heat transfer, fluid mechanics, and reactor design. I heard every misdotted i or miscrossed t like it came from a bullhorn. Other specialist will have to speak to mechanics like suspension, power, steering, crash safety, etc. Fanboys need to be careful about every claim made. In years, never demoed: 240V charging and associated BMS, solar charging and array performance rating, miles/kWh, regenerative braking, motor and inverter climate control, cabin HVAC, brake stopping, crash safety. Channels like Ben Builds Things deliver a vehicle in 6mo and demo testing most of those things the 1st day. I confirmed most of those things with my PHEV in the 1st 2 days. I've confirmed performance of ebike in the first hour. Everyone does this, that's the whole point. Aptera has been a complete failure.
Are you still planning on visiting them? Someone needs to do a walk through and report back. Drew is a useless simp at this point and watching him is painful. I along with others are very disappointed in how much Aptera is not sharing the progress. People want real pictures, real updates, and far more openness.
Oh, thank you for show off that design by 11 page - really cool stuff on that.
Unless your a shareholder at this point, they really don't need to show you anything. No company wants to show how the sausage is made and they probably really don't want anything disclosed that they don't want disclosed. On Drew's latest podcast he went into a bit more of his time over at Aptera and now has even said he's sold his stock in Aptera and Tesla to show more of an unbiased reporting. But he's still a fanboy of these companies, and I don't think there's anything wrong with that. But there has to be a trust that goes both ways to allow him to have access. As a shareholder and fanboy of Aptera, I don't want any news coming out of it that could be blown out of proportion that makes it seem like they're ready to close it all up, because, that's what would happen. And that would disappoint everyone.
Areed! You are the most credible and balanced Aptera commenter. Drew is OK if showmanship is acceptable, but he is not knowledgeable or credible with serious Aptera observers. We need your "Take" on Aptera without the theatrics. Aptera is your turf. Telo is Drew's
I've been planning a visit down there for months now. Looks like it won't happen until next year. They are very busy and I don't anticipate any meaningful information from a visit until early next year at which time I'm hoping they will have a fully functional pi vehicle.
@@ApteraOwnersClub A no visit-we are too busy- is a good thing. Now its down to money
@@ApteraOwnersClub I had 2 weeks of vacation these last 2 weeks. I wanted to use one of my investment perks and to visit their factory. Back in September I had inquired about visiting in November. They told me to ask closer to the date I would come. I asked 2-3 weeks before I wanted to come, and they told me they were putting a pause on visits, that their engineers were focusing on validating and testing their Pi builds and need a quiet and distraction free environment to work. They did mention that they were going to bring their vehicles around to different locations for people to see and they would be announcing these events "very soon".