Electric car startup Aptera Motors has folded. The company, which had some pretty good investors (Google and NRG Energy were two) announced last week that that they were immediately folding the company due to lack of funds.closing its doors, effective today” because it ran out of money.

Aptera, which was started in the state of California, was hoping for a federal loan so they could begin production on their first electric vehicle. The company said it was close to securing a $150 million from the U.S. Department of Energy, but it couldn’t secure the private invest money they needed to finish the loan application process.

The Department of Energy said that the company didn’t clear accomplish either task needed to secure the money, and that was getting a conditional loan commitment and then closing the loan.

Aptera, the electric car manufacturer behind the highly anticipated Aptera 2e three-wheel electric car, has stated that they expect to sell 100,000 electric cars in five years. In order to reach this goal Aptera also expects to need to create 1,500 jobs.

The official Aptera 2e specs were recently revealed at the most recent Technology, Entertainment, Design (TED) conference. The most interesting and relevant Aptera 2e specs included: 1,500 pound weight, an outstanding 0.15 drag coefficient, 60 lb-ft of torque, a lithium ion phosphate battery pack with a 10-13 kWh capacity, interior fabrics and plastics made from recycled materials, solar glass, and smart key.

The Aptera 2e will finally hit the streets this October and will sell for between $25,000 and $45,000.

The much-anticipated Aptera 2e, a three-wheel, two-seat, electric vehicle from Aptera, was supposed to be shipped to retailers today but, as with their last self-imposed deadline, it seems to have slipped by without a peep.

This slick little electric vehicle boasts plenty of cool eco-friendly innovations like a 120-mile range on a single charge. Not bad, but considering a single charge only costs about $3 it’s suddenly looking like a real contender in the mass market.

It’s expected to finally get to retailers (starting in California only) in October. The expected retail price will be between $25,000 and $45,000.