Aptera Motors (SEV) signs RMB 300 million manufacturing deal with Shanghai Launch Automotive
CARLSBAD, Calif., Aug. 20. Aptera Motors Corp. entered into a manufacturing and contract-engineering agreement with Shanghai Launch Automotive Technology Co., Ltd. on August 14, worth up to RMB 300,000,000, according to an 8-K filed with the Securities and Exchange Commission. Under the agreement, Launch will handle manufacturing, engineering, tooling, testing, and related work for the Delaware-incorporated electric vehicle company, which trades on the Nasdaq Capital Market under the ticker SEV.
Key takeaways
- Aptera Motors Corp. (Nasdaq: SEV) signed a manufacturing and contract-engineering agreement with Shanghai Launch Automotive Technology Co., Ltd. on August 14, worth up to RMB 300,000,000.
- Under the deal, Launch will handle manufacturing, engineering, tooling, testing, and related work for Aptera, a Delaware-incorporated electric vehicle company.
- Each approved work order invoice is paid two-thirds in cash (capped at RMB 200,000,000) and one-third via warrants for Aptera Class B Common Stock (capped at RMB 100,000,000).
- On the August 14 effective date, Aptera issued 3,369,629 warrants to Launch valued at RMB 50,000,000, with an exercise price of $2.20 per share and a five-year term.
- The warrants were issued under Regulation S and are limited by a 4.99% beneficial ownership cap and a 19.99% exchange cap absent stockholder approval.
CARLSBAD, Calif., Aug. 20. Aptera Motors Corp. entered into a manufacturing and contract-engineering agreement with Shanghai Launch Automotive Technology Co., Ltd. on August 14, worth up to RMB 300,000,000, according to an 8-K filed with the Securities and Exchange Commission. Under the agreement, Launch will handle manufacturing, engineering, tooling, testing, and related work for the Delaware-incorporated electric vehicle company, which trades on the Nasdaq Capital Market under the ticker SEV.
The payment structure splits every approved work order invoice two ways. Two-thirds goes to Launch in cash, capped at RMB 200,000,000 in aggregate. The remaining third comes through warrants to purchase shares of Aptera's Class B Common Stock, up to RMB 100,000,000 in aggregate.
How the warrants are structured
On the August 14 effective date, Aptera issued 3,369,629 warrants to Launch, valued at RMB 50,000,000, as consideration for signing. Those initial warrants carry an exercise price of $2.20 per share, set at the Nasdaq Minimum Price as of that date. They are not exercisable on issuance and become exercisable only as they are credited against invoices the company approves. Warrants issued against subsequent invoices will carry an exercise price equal to the greater of the applicable Nasdaq Minimum Price or $2.25 per share. All warrants carry a five-year term.
Two caps limit Launch's equity exposure. A beneficial ownership limitation bars exercise that would push Launch's stake above 4.99% of shares outstanding immediately after exercise. A separate exchange cap holds total issuances to 19.99% of shares outstanding before the agreement was signed, unless Aptera obtains stockholder approval as required under Nasdaq rules.
Aptera issued the warrants under Regulation S, an exemption from Securities Act registration requirements. The shares underlying the warrants have not been registered and cannot be offered or sold in the United States without registration or an applicable exemption, the filing states.
The 8-K was signed by Tom DaPolito, Aptera's interim chief financial officer, and dated August 20, 2026. Aptera Motors is headquartered at 5818 El Camino Real, Carlsbad, California.