The Department of Energy launched its Advanced Technology Vehicles Manufacturing Incentive Program earlier this year to provide funding to companies building alternative-fuel and green vehicles, but fine print mandated the loans would only be issued to companies building four-wheeled vehicles. Companies building vehicles with fewer wheels -- Aptera, for example -- were left out in the cold until the new provisions were adopted.
"This bill shows Congress and the Obama Administration support real American green tech innovation and are behind companies that create manufacturing jobs in America," said Aptera CEO Paul Wilbur.
The DOE loans are available to firms that manufacture enclosed vehicles capable of carrying at least two people and returning 75 mpg or better. Aptera's electric 2e reportedly returns the equivalent of 250 mpg, and will enter production next year. Pricing is expected to range between $25,000 and $40,000, depending on content levels.
Source: Aptera