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For once, the taxpayer doesn’t get screwed: The electric car company Aptera has shut down due to lack of interest from investors and the lack of a loan from the government.
The California company was counting on a federal loan – and private investments to match the loan – so that it could start producing its very first electric vehicle. Aptera said it was close to securing a $150 million from the U.S. Department of Energy, but it couldn’t line up the private dollars necessary to complete the loan application process.