Trouble Maker Posted November 22, 2009 Report Share Posted November 22, 2009 (edited) http://green.autoblog.com/2009/11/20/aptera-update-backstory-uglier-than-we-knew/ Actual story has links to other stories to give a full picture. Almost applied for a job there before the crash, glad that didn't come to fruition. Though I would have known what I was getting into. You kind of have to assume with a tech startup that things might go south at some point. Not saying that things are over there, but the writing is on the wall. Here's to hoping they get the DOE loan. Electric automaker Aptera has had a very tough week, starting with news of a boardroom showdown last weekend over money troubles – which were then walked back a bit. During the week, we've been hearing that the problems run deeper than we expected, and Karen Pease from Gas 2.0 believes she has put more pieces of the tale together. First, it's important to know about Laura Marion, who is CFO at Aptera, but she also worked at Delphi, where she was cited by the SEC (PDF) for massive accounting fraud and ended up paying a $40,000 fine. Marion came to Aptera with Paul Wilbur, now Aptera's CEO, who had previously worked at ASC and Saleen (pretty much as those companies were going bankrupt). Wilbur was behind the firings last week, and the Gas 2.0 writeup (a must read) cites an anonymous employee who was liveblogging the recent firings saying that, "Paul Wilbur has just sacrificed the company to line his own pockets. Crap, I'm crying. [...] Seems to think suspending operations til govt$$ come in will make him a rich man. So sad for [Aptera founder] Steve Fambro, he's a great guy being ruined." We asked Wilbur for a statement, and he sent AutoblogGreen a replying saying: We have assembled a world-class team that has the full support of our board. We and our board are confident that we have the people and resources needed to bring the most innovative electric vehicle to market as soon as possible. This story is not over, not by a long shot. Edited November 22, 2009 by Trouble Maker Quote Link to comment Share on other sites More sharing options...
zeitgeist57 Posted November 22, 2009 Report Share Posted November 22, 2009 I really, really like Aptera, and have been following the development of the 2e since 2007. The all-electric is great, but they have plans for a gas engine, range-extender version that gets ridiculous mpg. I really hope these guys survive the recession...from a business standpoint they are doing everything they can to succeed... Quote Link to comment Share on other sites More sharing options...
Mallard Posted November 22, 2009 Report Share Posted November 22, 2009 They have gone way too long without being able to sell anything. I admire what they are trying to do, but the idea that any start up can compete in the automotive market is a joke. The reality is, most of these start up companies will only be successful if they can develop something unique and license it to a major OEM. I admire the drive and innovative design the Aptera has come up with, but they will have a hard time selling cars to mainstream America. No matter what they do, the fact that they are 3-wheeled (considered a motorcycle) and don't have to meet the same safety standards as cars will be used against them in marketing. Even if they can meet automotive standards I feel the 3-wheeled stigma will plague them. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.