President Signs Bill Qualifying Three Wheel Vehicles for Loans Under AVTM ProgramPresident Signs Bill Qualifying Three Wheel Vehicles for Loans Under AVTM Program

The President has cast his vote and approved three wheel vehicles for funding under the Advanced Technology Vehicle Manufacturing program created back in 2007.
Voting on the bill took place over the last couple of weeks with both the House and Senate approving the bill.  Now with the president’s signature, makers such as Aptera will be able to apply for loans from the government.  The Advanced Technology Vehicle Manufacturing (AVTM) program previously would grant loans only to vehicles that we covered by federal motor vehicle safety standards.  Thus, three wheeled vehicles, which were not covered under these standards, did not qualify for funding.
Now, the signing of the new bill will qualify additional vehicles for loans through the AVTM program.  To meet new eligibility requirements, vehicles can have two or three wheel provided that they are fully enclosed, carry tow or more passengers and obtain 75 mpg or better.
Aptera is currently working on a revised loan application and will resubmit information to obtain a loan from the federal government under the new program guidelines.  Though vehicles in this newly created segment do not need to meet federal safety standards required for cars, Aptera assures us that it’s vehicles will meet the stringent guidelines.
With additional funding available for Aptera and other small manufacturers in the three wheel vehicle segment, we can expect to see additional EV powered trikes coming soon.
Source:  Aptera Press Release
NEW FEDERAL LEGISLATION MAKES APTERA
ELIGIBLE FOR MILLIONS FROM DOE LOAN PROGRAM
Dept. of Energy’s fuel efficiency loan program expands to make companies like Aptera
– with its ultra-high mileage, three-wheel electric vehicle – eligible for funds
VISTA, Calif. (Oct. 29, 2009) — Aptera Motors, maker of the three-wheeled, all-electric 2e that delivers the equivalent of up to 250 miles per gallon, is updating its loan application for resubmission to the Department of Energy after President Obama signed a bill that makes ultra-efficient, two- and three-wheel vehicles eligible for federal loans.
The new measure, approved as a part of an energy and water appropriations bill, was originally sponsored by Rep. Brian Bilbray (R-Calif.) and Rep. Adam Schiff (D-Calif.) and received overwhelming bi-partisan approval in the House and Senate. It stipulates that any manufacturer of enclosed two- or three-wheeled vehicles that carry at least two people and get 75 miles per gallon are now eligible for DOE funding. Aptera’s original submission to the DOE’s Advanced Technology Vehicles Manufacturing Incentive Program was rejected Dec. 31, 2008 because the program was initially drafted to only include passenger vehicles, which, by federal definition, have four wheels.
“This bill shows Congress and the Obama Administration support real American green tech innovation and are behind companies that create manufacturing jobs in America,” says Aptera CEO Paul Wilbur. “Aptera’s goal is to be the world benchmark for efficiency, with a portfolio of vehicles designed and manufactured right here in the U.S. Our hope is that we can use the DOE loan to accelerate our march to that goal.”
Vista, Calif.-based Aptera, which plans to enter full production in 2010 with its two-passenger Aptera 2e, expects to directly employ 1,500 people and create thousands of support roles for American workers from auto parts and components companies. The 2e, with a price range of $25,000 – $40,000, will require no unique charging infrastructure, delivering a range of 100 miles by simply plugging into a conventional 110 volt or 220 volt household outlet.
“Aptera’s corporate strategy has always been to go to market on private funding, but the prospect of this new legislation gives us a means to accelerate our plans for national brand expansion,” says Wilbur.
About Aptera
Aptera Motors (www.aptera.com) was founded in 2006 to develop and build the most energy efficient commuter vehicles on the road, without compromise to safety or comfort. Utilizing streamlined aerodynamic design, lightweight composite structures and unique drive systems, Aptera delivers vehicles that are affordable and efficient. The Southern California company operates a facility in north San Diego County, where it designs, engineers and manufactures the vehicles and their composite systems to create an exceptionally strong, safe, sleek body

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