Lightyear halts production of its first solar car. The company confirmed this on Monday. Atlas Technologies, the subsidiary that houses Lightyear 0 production, requested a deferral of payment on Monday.
The decision to discontinue the Lightyear 0 solar car was made as part of a “strategic restructuring,” the company writes in a press release. Lightyear ceo Lex Hoefsloot says to Het Financieele Dagblad that’in consultation with investors, it has been decided to pull the plug on the Lightyear 0′. According to the ceo, “partly under pressure from the investors” it was decided to restructure the company through the postponement of payment. It is unknown what this means for the more than 600 employees of the company, who were informed on Monday.
Lightyear filed for deferment of payment in court Monday morning. The company does so for Atlas Technologies, its subsidiary responsible for manufacturing the Lightyear 0. Atlas Technologies Holding, which among other things owns the intellectual property rights, and Lightyear layer B. V. are not covered by the application.
From now on, the company wants to focus entirely on the development of its Lightyear 2 solar car, with which the company ultimately wants to enter the mass market. The production of that solar car should start in 2025 and the car should cost less than 40,000 euros at release. The company does need additional funding for the development of the Lightyear 2, the FD reports. Lightyear hopes to “complete some important investments” in the coming weeks.
Lightyear began production of its Lightyear 0 solar car in November, which the company has been working on since 2016 under the name Lightyear One. The company produced the car at Finnish automaker Valmet Automotive. Lightyear planned to produce up to 946 copies of the solar car. The vehicle initially cost 150,000 euros, although that was later increased to 250,000 euros. Tweakers published a preview of this solar car last year.
