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Saturday, December 03, 2011

Another One Bites The Dust

Let's face it. Electric cars are toys for the rich and fanciful. Woefully impractical and dazzlingly expensive, they just aren't a good fit for - dare I say it - that 99% of America that doesn't hang out in Hollywood or Manhattan (or want to hang out in Hollywood or Manhattan).

Thus, companies that launch an effort to capture a market that just isn't there, in the end, capture only failure:
Electric Vehicle Aptera Motors Pulls the Plug
Fox News

A Southern California electric vehicle company has decided to pull the plug.

Aptera Motors has announced that it is shutting its doors, letting its workers go and liquidating its assets , Wired.com reports.

The company first showed off it's three-wheel model in 2007 and had been working on a sedan.
Aptera Motors CEO Paul Wilbur said in a statement that Aptera ran out of time and money, Wired.com reports.

"After years of focused effort to bring our products to the market, Aptera Motors is closing its doors, effective today," he said in the statement. [link]
Aptera's problem? Nobody with investment capital would invest in the company (though our government was more than prepared to fling mountains of cash at it). Why? Because investors expect a return on their investments (a quaint notion indeed). And they saw no ROI opportunity in an impractical toy that would be of interest to only a tiny niche of humans.

So Aptera bites the dust.

As would the entire electric car industry if not for your tax dollars.