Flying Cars, Jet Packs, and the Very Speedy Future of Personal Transit
Aptera Motors began developing this three-wheel electric vehicle in 2005. The company raised several small rounds of funding to get the company off the ground, and in July 2008 Google.org led a Series C funding round of $24 million. The Aptera 2, developed in 2008, used less than half the energy needed to propel the EV1 or the Tesla. But when the recession hit, opportunities for additional funding dried up. The company declared bankruptcy in December 2011. "Car projects are very capital-intensive, and the financial community hadn’t seen stellar volumes from electric cars from Nissan, G.M. and others,” Paul Wilbur, the company's founder and CEO told the New York Times.