Aptera has found someone to build its solar car, and it is in Shanghai

Aptera entered a manufacturing agreement with Shanghai Launch Automotive Technology, a 3,000-employee design-for-manufacturing firm, for up to $44 million in tooling, testing and pilot production; Aptera will fund two-thirds of the costs and Launch will receive warrants valued at about $15 million. As of June end, Aptera held $10.1 million in cash, burned $2.0-$2.2 million per month, and disclosed substantial doubt about its ability to continue as a going concern while seeking $40-$45 million for low-volume production and $140-$160 million to scale to 20,000 vehicles annually. The first 40 cars are scheduled for Q4 production using Launch’s assembly fixtures, supplier network and pilot-stage facilities.