Electric Vehicle Startup Rewards Top Investors with Bags, Jackets and Books
Aptera, an automotive startup seeking investment for its pretty out-there looking electric vehicle, just released a plan to reward its top investors with promotional products.
The company re-formed in 2019, touting its three-wheeled electric vehicles as the next-big-thing in environmentally friendly cars. According to Electrek, Aptera is seeking $20-$50 million in funding. So far, it has raised about $3 million, but to sweeten the deal, it's advertising some of the gifts its premier investors would receive.
Cruisin' around town ☀️ pic.twitter.com/UJ4iJKbrpM
— Aptera (@aptera_motors) February 13, 2023
According to Electrek, any investor that puts in $10,000 will get a 5% discount on the car and won't have to pay the $100 reservation fee.
Additionally, anyone who goes over that $10,000 mark will receive a serialized, limited-edition hardcover book about the automotive startup's design and production processes. If they chip in more than $15,000, they'll also receive a "branded Aptera adventure bag." If they invest more than $25,000, they'll get the bag plus a "branded Aptera Accelerator jacket."
The company obviously sees the value of branded products as a way to entice investors, as it said it plans to add "more items and experiences to the list" of gifts as it seeks funding, and also hinted at a special prize for the top 10 investors.
The modern automotive market is big on branded products like this. The obvious parallel is Tesla, arguably the biggest name in disruptive electric vehicle design. Led by Elon Musk, Tesla has a strong history of eye-catching branding efforts.
But some of the more established car companies, like Chrysler, have been using branded products to draw in younger customer groups.
These aren't small investment amounts. Obviously the investors get the chance to get a car out of it, too, but these little gifts certainly have pull. Once the cars hit the road, they can show off their bags and jackets, knowing people will recognize them as exclusive gifts for big-time investors.
The exclusivity is the real value. The jacket, bag or book just tells that story without having to say anything.