Aptera Motors signs $44M manufacturing deal with Launch Design

Aptera Motors Corp. (Nasdaq: SEV) announced a partnership with Launch Design (Shanghai Launch Automotive Technology Co., Ltd.), a Chinese design-for-manufacturing firm, covering a production program valued at up to approximately $44 million (RMB 300 million) at current exchange rates.

The program encompasses assembly fixtures and tooling, vehicle testing, pilot production, and high-volume production work. The two companies are targeting the fourth quarter of 2026 to begin building Aptera's first 40 production vehicles.

Under the financial terms, Aptera will cover two-thirds of approved program costs, with the remaining third — up to approximately $15 million — paid in warrants to purchase Aptera stock. Aptera said it expects to fund its portion through existing capital resources, previously announced financing arrangements, and future debt or equity financing. Additional terms will be filed in a Current Report on Form 8-K with the Securities and Exchange Commission.

Launch Design employs more than 3,000 people and has developed more than 400 vehicle models. The partnership gives Aptera access to Launch's international supplier network, which is expected to deliver finished subassemblies directly to Aptera's final assembly facility in Carlsbad, California.

"This strategic investment enhances our resources, allowing us to bring proven design-for-manufacturing expertise and a global supply chain to Carlsbad without taking on the capital burden of building that expertise from scratch," said Chris Anthony, Co-CEO of Aptera.

Launch Design is also making a strategic investment in Aptera as part of the arrangement, though the financial size of that investment was not separately disclosed in the announcement.

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