US-based electric car developer Aptera is closing down operations due to an inability to raise funds from private investors, chief executive officer Paul Wilbur announced in an e-mail Thursday last week.

Aptera secured $24m in a 2008 series C round, garnering part of a $2.75m investment from Google under philanthropic unit’s RechargeIt initiative, supporting electric vehicles. Also contributing to the round were business incubator Idealab and Esenjay Investments. The bulk – $20m, according to Thomson Reuters –…

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