CARLSBAD, Calif.—On Wednesday, Aptera's vice president and chief engineer Tom Reichenbach unveiled a design-intent prototype of the Aptera 2E. The all-electric vehicle—which was hours away from being shipped to Detroit to compete for the Automotive X Prize—wears a number of outwardly visible alterations from the earlier Typ-1 e prototype that will make it more suitable for daily use. Though the body is visibly paunchier than the predecessor we test drove two years ago, the 2E retains its striking, head-turning silhouette, not to mention a coefficient of drag that's below 0.15.

Now boasting 22 cubic feet of cargo room (more than a Prius with its rear seats folded down), the 2E has larger doors that swing higher, a taller headliner, a lowered doorsill, and reworked ergonomics. To illustrate its functionality, Reichenbach unloaded four pieces of luggage and two competition-size golf bags from the trunk.

The 2E is the first vehicle Aptera has produced in which every major subsystem has been built using components sourced from suppliers that will be tapped for production. The 403-pound composite body, which is constructed of 30 individual parts, now uses a refined component process that's easier to manufacture, and the suspension system has also undergone engineering refinements. Preliminary specs include a lithium-ion nano-phosphate battery that powers an internal permanent-magnet motor; the battery is made by A123Systems, and the motor is manufactured by Remy Electric Motor Technologies, a former division of Delphi. A full charge can be achieved in 11 hours, while a partial charge is available in 6 hours. Total motor output is 110 hp and 232 lb-ft of torque driven through a single-ratio transaxle, with an electronically limited top speed of 90 mph. Zero to 60 mph for the 1800 pound two-seater is estimated at 9 seconds, and the 2E's mile per gallon equivalent is over 200 mpg, with a per-mile running cost estimated at around 2 cents.

"We guarantee a range of 100 miles if the vehicle has been plugged in overnight," Reichenbach explains, emphasizing that the 2E is intended as a commuter vehicle that takes into consideration factors like ingress, egress, and storage space. Reichenbach also told us that the 2H hybrid model would be released six months after the EV version, and that an internal-combustion-only model might be considered if the price of fuel stays low enough. Plans have also been drawn up for a four-seater if the 2E succeeds.

But how feasible are Aptera's plans? Lately, the company has been in the news more for executive shake-ups and questions about its financial solvency than its electric car designs.

"We don't want to be lumped in with the vanished attempts of companies like Bricklin, DeLorean, or a joke like the 'Dale'," Aptera president and CEO Paul Wilbur quipped. In the face of recent speculation surrounding the startup manufacturer, he added that, "We take our business very seriously."

Citing 2009's slowdown in venture capitalist funding and admitting that the company "still [has] a bit of work to do before we can claim to be fully funded and in full production mode," Wilbur also mentioned that the company has a pending application for a $184 million Department of Energy loan, and that a round of fundraising was completed this month.

The government loan is expected to finance Aptera for five years and to create 500 new jobs at the company's Carlsbad headquarters, as well as up to 2500 jobs elsewhere. Wilbur claims that the company is "… on the road to financial stability," and estimates it should take 11 months to achieve full production volume once financial hurdles are cleared.

When asked if participating in the Automotive X Prize competition might distract from the challenges of developing a production model of the highly anticipated two-seater, Reichenbach said, "Ever played tennis? You do a lot better when you're playing against another person, rather than hitting balls against a wall."

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