Aptera has partnered with the Chinese company Launch Design to manufacture a solar-powered electric vehicle
The California-based startup Aptera has partnered with the Chinese company Launch Design to accelerate preparations for the production of a three-wheeled, solar-powered electric vehicle. The partnership is valued at approximately $44 million, or 300 million yuan, according to InsideEVs.
Launch Design will become Aptera’s first major strategic investor. The company specializes in production-ready design and comprehensive solutions for automakers. Founded in 2000, Launch Design employs more than 3,000 people. The company states that it has participated in the development of more than 400 vehicles, including models for Tesla, Cadillac, Renault, BYD, and Chevrolet.
Under the terms of the agreement, Aptera will gain access to Launch Design’s overseas facility for pilot production, where the first units of the solar-powered electric vehicle will be assembled. The Chinese company will also help develop assembly equipment and manufacturing processes, which will then be shipped to Carlsbad, California.
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Aptera previously reported that it had ordered the first 40 production-ready bodies and chassis for the initial batch of vehicles for customers. The company expects these vehicles to roll off the assembly line in the fourth quarter.
Aptera will cover two-thirds of the program’s approved expenses. Launch Design will cover the remainder—up to $15 million—with warrants to purchase Aptera shares. The Chinese company’s investment will be directed toward assembly tooling, manufacturing equipment, vehicle testing, pilot production, and preparations for mass production.
Aptera noted that it has been collaborating with Launch Design for over a year. The startup plans to leverage its partner’s international supplier network to reduce material costs. Launch Design’s suppliers may also provide Aptera with finished assemblies rather than individual parts, which should simplify final assembly.
