Aptera to auction off assets to pay creditors

Aptera 2e

Aptera Motors, which said last week that it will close its doors due to lack of funding, has announced that it will auction off its assets later this month at its Carlsbad, California headquarters.

The company will auction off computers, furnishings and auto-repair equipment, in order to raise funds to pay off some of Aptera’s creditors, AutoObserver reports.

The auction will be conducted by Heritage Global Partners on Dec. 20 and Dec. 21 on its website. A preview will be provided on Dec. 19.

Aptera, which widely publicized its three-wheeled electric vehicle, failed to raise $150 million in private funding. The funding would have activated a federal loan commitment for an additional $150 million. The government finding would have allowed Aptera to produce an electric sedan that they company was quietly development using the same composite materials in the three-wheeler.

– By: Omar Rana

Source: AutoObserver