Aptera Motors (SEV) CEC grant milestones revised, funding tied to goals

Rhea-AI Filing Summary

Aptera Motors Corp. reports that the California Energy Commission has revised the milestone schedule tied to its grant funding. The CEC confirmed that the grant agreement remains in place and that Aptera is still eligible for funds if it meets the updated milestones. However, future reimbursements will now depend on achieving these milestones rather than simply on the timing of spending. Because of this change, Aptera does not expect to receive any additional grant reimbursements in 2025. The company also cautions that its ability to meet current or future milestones, and therefore receive the full anticipated grant amount, cannot be assured.

Insights

Equity Analyst

CEC grant remains in place, but reimbursements shift to milestone-based and pause for 2025.

Aptera Motors Corp. discloses that the California Energy Commission has updated the milestones and schedule governing its grant. The CEC states that the grant agreement continues to be valid and that Aptera remains eligible for funding when it satisfies the revised milestones.

A key change is that future reimbursements will be based on completing specified milestones rather than the timing of project spending. Aptera states that it does not expect any additional reimbursements from this grant in 2025, which may affect near-term funding from this source.

The company notes that its ability to meet either current or revised milestones, and thus receive the full anticipated grant disbursements, cannot be assured. Actual funding from the grant will depend on milestone achievement and any further adjustments communicated by the CEC.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 19, 2025

APTERA MOTORS CORP.

(Exact name of Registrant as Specified in Its Charter)

Delaware		001-42884		83-4079594
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

5818 El Camino Real
Carlsbad, California		92008
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: (858) 371-3151

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class B Common Stock, par value $0.0001 per share		SEV		Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

As disclosed in its Form 10-Q, filed on November 14, 2025, Aptera Motors Corp. (the “Company”) has been in discussions with the California Energy Commission (the “CEC”) formalizing adjustments to its milestone schedule requirements. On November 18, 2025, the Company received communications from the CEC revising the milestones and schedule requirements.

The CEC has assured the Company that the grant agreement remains in place and that the Company remains eligible for funding upon satisfaction of the revised milestones. Additionally, the CEC informed the Company that future reimbursements will be dependent on achieving the milestones outlined in their communications and no longer directly linked to the timing of spending until such milestones are met. As a result, the Company does not anticipate receiving any further reimbursements from the CEC in 2025. Our ability to meet any milestones, whether current or subsequently revised, and therefore receive the full amount of anticipated grant disbursements, cannot be assured.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		Aptera Motors Corp.
Date:	November 19, 2025	By:	/s/ Chris Anthony
		Name:	Chris Anthony
		Title:	Co-Chief Executive Officer

FAQ

What did Aptera Motors Corp. (SEV) announce about its California Energy Commission grant?

Aptera Motors Corp. disclosed that the California Energy Commission revised the milestones and schedule for its grant, but confirmed that the grant agreement remains in place and Aptera remains eligible for funding upon meeting the updated milestones.

Is Aptera Motors Corp. (SEV) still eligible for California Energy Commission funding?

Yes. The California Energy Commission informed Aptera Motors Corp. that the grant agreement remains in place and the company remains eligible for funding when it satisfies the revised milestones outlined by the commission.

How did the reimbursement structure change for Aptera Motors Corp.’s CEC grant?

Future reimbursements from the California Energy Commission will now depend on Aptera Motors Corp. achieving specified milestones, and will no longer be directly tied to the timing of spending until those milestones are met.

Will Aptera Motors Corp. (SEV) receive more CEC grant reimbursements in 2025?

Aptera Motors Corp. stated that, due to the revised milestone structure, it does not anticipate receiving any further reimbursements from the California Energy Commission in 2025.

What risk did Aptera Motors Corp. highlight regarding the CEC grant milestones?

Aptera Motors Corp. cautioned that its ability to meet any milestones, whether current or subsequently revised, and therefore receive the full amount of anticipated grant disbursements from the California Energy Commission, cannot be assured.

Which regulatory filing did Aptera Motors Corp. use to report the CEC grant update?

Aptera Motors Corp. reported the update on its California Energy Commission grant milestones and reimbursement structure in a Form 8-K under Item 8.01 Other Events.