Less than a month after Dutch solar electric vehicle (EV) company Lightyear was forced into bankruptcy, the company is attempting to make a comeback with plans to launch a new company focused on its affordable solar EV, the Lightyear 2.
Lightyear, which was founded in 2016 with the goal of delivering a solar-powered electric vehicle, began series production of its flagship Lightyear 0 in December, with a hefty purchase price of €250,000 (around $A387,000). In mid-January, the company opened pre-orders for 10,000 units of the Lightyear 2, its “mass market” model with a more affordable price tag of €40,000 (around $A61,900), and with a promised 800 kilometres of range thanks to its solar canopy and record-breaking aerodynamics.
However, shortly after, Lightyear announced that it was halting production on its flagship Lightyear 0 model to focus on the Lightyear 2. This news was followed by an official filing for bankruptcy. On Tuesday, the company announced that it was seeking to set up a new company which would focus on producing the Lightyear 2, and said that – thanks to the “continuous support and efforts” from Lightyear’s “loyal investor community” – it was able to raise enough money to generate a solid capital base from which to form the new company.
The company says the intellectual property behind Lightyear’s EVs will be used as collateral for the new stakeholders. However, there are not yet any specific details with regards to their exit from bankruptcy or the future of production, with only a promise to “disclose more information when available.”
Lex Hoefsloot, the founder of Lightyear, said: “This is great news. All involved worked relentlessly to secure the continuation of our mission. We kept the interests of all stakeholders at heart during this process. We realize that the impact on our employees, investors, clients and suppliers is significant, but we tried to find the best way forward for everyone.”
Lightyear’s attempt to claw its way out of bankruptcy is an inspiring story of resilience and determination. With the help of its loyal investor community, the company is now looking to launch a new company focused on its affordable solar EV, the Lightyear 2. It remains to be seen what the future holds for Lightyear and its innovative solar-powered electric vehicles.
FAQ
Q1: Are electric car batteries recyclable?
A1: Yes, electric car batteries are recyclable.
Q2: Are electric car chargers free?
A2: It depends on the charger and the location. Some electric car chargers are free, while others may require a fee.
Q3: Can electric car batteries be rebuilt?
A3: Yes, electric car batteries can be rebuilt with the right tools and knowledge.
