Well, there were a few posts that I had started and didn’t finish before ‘Grok 1.0 gave up the ghost (or, if really old, just plain forgot about them)….this is one.
I had really thought that the Aptera was a pretty cool looking car (yes, the Eldest, the Youngest, and TMEW DO put up with me) – the idea that it was an EV or a high mileage vehicle was pretty much secondary (interesting, but secondary). Safety rated, nice looking, and geeky – yes, I would have tried to buy one. But, am not going to ever have the chance – the money ran out:
Today, the automaker Aptera announced that it is ceasing operations, effective immediately. Essentially, the company ran out of money, which isn’t a huge surprise: It has yet to sell a product even though it’s been four years since we first took a spin in the company’s futuristic three-wheeled EV.
President and CEO Paul Wilbur explained in a statement that the company couldn’t find private investors to match a proposed $150 million loan from the Department of Energy. In an effort to attract that investment, the company had switched focus from that interesting three wheeler to a more conventional four-wheeled electric car.
Not sure that I would have EVER been able to coax TMEW into buying one, but I had hoped it would succeed. C’est la when Govt becomes your investor, or your preferred source of capital. More and more, as I read the biz magazines or posts, I keep seeing the same thing: instead of competing in the marketplace, more and more the Feds are being seen as the source of capital (like here). Obama said he wanted to fundamentally transform the United States; well, he certainly is trying to become the VC (Venture Capitalist) of choice amongst new entrepreneur.
And is, by dint of freely spreading taxpayer wealth around, is Obama fundamentally changing what it means to be an entrepreneur? Is he trying to change the economics that the FIRST place that innovation must bow to first is the Federal Government before
(H/T: Instapundit)
