Aptera Moves One Step Closer to Production of Its Ultra-Efficient Typ-1 Vehicle

Aptera Motors raises more than $24 million in Series C funding
from Idealab, Google, Inc. and others
CARLSBAD, Calif.--(Business Wire)--
Aptera Motors announced today that the company has raised more
than $24 million at the close of its Series C round of venture
funding. The new funds will be used to start initial production of its
Aptera Typ-1, a radically different vehicle designed to marry advanced
aerodynamics with light-weight composite technology creating an
incredibly powerful, yet extremely safe vehicle that is a joy to
drive. Additionally, the company plans to use the newly raised funds
for a new manufacturing facility located in Vista, Calif., just a
short distance from the company's present headquarters in Carlsbad.

"We're excited that the tremendous demand that we've received from
the thousands of individuals who have pre-ordered their Aptera Typ-1
has been matched with a strong endorsement from our investment
partners," said Steve Fambro, founder and CEO of Aptera Motors. "The
vehicle is exciting, the timing seems perfect and the market is eager
to buy one of these first built units. These new funds will be
instrumental as we pursue our goal of bringing the Typ-1 to market
later this year."

"With energy prices and oil prices where they are, we feel
dramatic increases in the efficiency of transportation, like the
Typ-1, are greatly needed," said Bill Gross, chairman and CEO of
Idealab. "The Aptera Typ-1 is designed to be the lowest energy way to
transport two passengers safely from point A to point B. Clearly, our
expectations for this first vehicle and this company are very high."

Investors in Aptera Motors now include: Idealab, Esenjay
Investments, The Simons Family, The Beall Family Trust and Google,
Inc.

About Aptera Typ-1

The Aptera Typ-1 will be the most efficient passenger vehicle in
the world. The first production models are planned to be available in
December 2008 with the production rate increasing throughout 2009.
With a coefficient of drag literally one-third of a subcompact car and
less than half the weight, the all-electric version will get up to 120
miles per charge, while the hybrid version, which will follow in about
12 months, will achieve close to 300 MPG. With these results, Aptera
Motors aims to change the way the world thinks about personal
transportation. Interest is already high as Aptera has received over
3,300 deposits from California-only buyers eager to be among the first
to drive this new vehicle. With its commitment to efficiency and
safety, Aptera Motors is positioned to be a leader in the new era of
efficient vehicle design and production. California residents can
reserve a vehicle now by placing a fully refundable $500 deposit at
www.aptera.com.

About Aptera Motors

Aptera Motors is working to bring to market the Aptera Typ-1 which
will be the most efficient passenger vehicle in the world. The company
is based in Carlsbad, California and is backed by Idealab and Google,
Inc., among others. For more information, please visit www.aptera.com

Aptera and Typ-1 are trademarks of Aptera Motors, Inc. All other
trademarks and registered trademarks are the property of their
respective owners. (C) 2008 All rights reserved.

Aptera Motors
Tisha Dore, 760-505-9676
tisha@szpr.com

Copyright Business Wire 2008