It’s probably been one of the most underreported EV stories in years.

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The long, difficult journey of Aptera Motors (NASDAQ: SEV).

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While the company’s offerings are anything but traditional, the technology is not trivial, particularly regarding its ability to move the vehicle using only the sun.

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Indeed, many car makers have tried - and failed - to integrate solar into the body of an electric car in an effort to feed it electrons without a plug. Aptera is the only one that’s made it realistic.

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Utilizing airplane aerodynamics and next-generation engineering, Aptera has built an electric car that can operate for up to 40 miles solely from the solar cells integrated into the vehicle.  Couple that with a 400-mile range, and you have a truly exciting EV.

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Of course, the vehicle's design may turn off a lot of people.  

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This is no ordinary sedan.  It actually looks like the front of an airplane, and its limited seating makes it a “no-go” for large families.

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Still, with nearly 50,000 pre-orders, it’s no slouch.  I actually wouldn’t be surprised to see this specialty EV player carve out its own little niche.  

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Certainly, it’s had no trouble raising cash.

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Aptera locks in another $6.3 Million

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Before its IPO, the company secured up to $75 million in equity financing, raised $33 million from an accelerator program, and another $100 million from a very successful crowdfunding campaign.

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And this week, the company announced the exercise of warrants for gross cash proceeds of about $6.3 million.  

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This latest round of funding will primarily support the validation and testing phase of Aptera’s vehicle development program. 

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Worth noting, this news comes less than two weeks after Aptera announced it completed the first solar electric vehicle built on its validation assembly line in Carlsbad, California. 

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The vehicle is part of a series of validation builds that will be used for testing and refining the production process ahead of commercial deliveries.

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For a startup introducing an entirely new type of electric vehicle, that step matters.

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The newly completed vehicle rolled off what Aptera calls its low-volume validation assembly line, which currently consists of 14 dedicated assembly stations designed to build vehicles through a repeatable process rather than one-off prototype construction.

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This stage is designed to verify that every system (from electrical components to drivetrain integration) can be assembled consistently before the company moves toward higher-volume production.

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The vehicles produced during this phase won’t go directly to customers. Instead, they will be used for critical testing programs, including thermal system validation, brake performance testing, and durability and safety assessments.

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These tests are necessary before Aptera can obtain regulatory certifications and begin selling vehicles to the public.

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While I’m keen on the car and the technology, the stock is still quite risky.  The company has a decent amount of cash, but building a new car brand from the ground up isn’t cheap.  That being said, Aptera has built a sort of loyal following.  Even car fanatic Jay Leno has opined on his love for the vehicle.

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Indeed, that’s not enough to make the stock worth buying, but if the company is successful in getting this car off the line and onto the roads, the market will pay attention.  I would recommend you do the same before that happens.

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