Aptera Motors Corp. has secured a strategic investment from Shanghai Launch Automotive Technology Co., Ltd. worth up to $44 million to support production of its solar electric vehicle. The program covers fixtures, testing and pilot production for Aptera’s first 40 vehicles, targeted to begin building in Carlsbad, California, in Q4 2026.
Aptera Motors Corp. (Nasdaq: SEV), a solar mobility company based in Carlsbad, California, has announced a strategic investment by Launch Design, the trading name of Shanghai Launch Automotive Technology Co., Ltd., to support its move into initial production of its solar electric vehicle.
The production program is valued at up to approximately $44 million (RMB 300 million) at current exchange rates and covers assembly fixtures and tooling, vehicle testing, pilot production, and high-volume production work. The initial fixtures and parts are for Aptera’s first 40 production vehicles, which the companies are aiming to begin building in the fourth quarter of 2026. The first bodies and chassis are expected to begin arriving in October 2026.
Launch Design employs more than 3,000 people across multiple production bases and has worked on more than 400 vehicle programs for automakers including BYD, Ford, XPeng, Nio and Tesla. Aptera and Launch have been working together for more than a year; the company said the relationship has already reduced its projected bill of materials over the past six months, though it has not disclosed the scale of those reductions.
The partnership also gives Aptera access to Launch’s international supplier network. Rather than shipping individual components, Launch’s supply base is set up to deliver finished subassemblies directly to Aptera’s final assembly facility in Carlsbad. Aptera said this arrangement does not change its plans to conduct final vehicle assembly in California, though it anticipates some changes to its existing low-volume validation line to accommodate the larger subassemblies.
According to Chris Anthony, co-chief executive of Aptera, the investment brings manufacturing expertise to Carlsbad without the capital cost of developing it independently. “We expect Launch’s experience will shorten our path to high-volume production and reduce materials costs,” he says. “We have already seen reductions in our projected bill of materials from the relationship, an early indication that the partnership is improving unit economics before the first production vehicle is built.”
Steve Fambro, co-chief executive of Aptera, says the relationship extends beyond manufacturing. “Their production bases and supplier relationships give us a practical way to plan for markets outside the United States in the future, where we believe the appetite for a highly efficient solar vehicle is significant,” he says.
Under the payment structure, Aptera will pay two-thirds of approved program costs in cash, with the remaining third — up to approximately $15 million — paid to Launch in warrants to purchase Aptera stock. Additional terms of the agreement and the warrants will be detailed in a Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission (SEC).
Aptera said it expects to fund its portion of the program through existing capital resources, previously announced financing arrangements, and future debt or equity financing.
