Electric car maker Aptera has had to close its doors for the final time after failing to secure investment.
The Californian firm, known for its kooky three-wheel electric concept, had plans for a four-door saloon type car, that was projected to get in the equivalent 190 miles to the gallon.
The company had hoped to secure a $150 million loan from the US Department of Energy as well as investment from private partners, according to The Huffington Post.
But as of last Friday (December 2, 2011) the firm ceased trading and laid off its 30 workers.
Aptera CEO Paul Wilbur told the Associated Press that investors had been deterred by the recent failure of other green ventures: "A lot of people on the West Coast thought they could do the industry better. But the reality that has set in is that these are capital intensive industries, and it’s difficult. It’s scared a lot of investors in the space right now. We have a million sympathisers, but when it comes to writing a big cheques there aren’t many of those around."
Aptera was first formed in 2006. It was hoped that its lightweight design would help it sell strongly by undercutting the price of competitors and achieving better energy efficiency.
