- Lightyear secured roughly $11 million (10M Euros) of funding
- The funding will assist the restructured enterprise promote photo voltaic {hardware}
- Lightyear’s moved on from trying to construct its personal EVs
Lightyear has secured 10 million euros (roughly $11 million at present alternate charges) to fund a brand new enterprise of promoting photo voltaic {hardware} for different firms’ autos, resembling photo voltaic panels for automobile rooftops.
“We’ll use this chance to develop our group of consultants and technicians to grow to be the main provider of on-board photo voltaic methods for autos,” Bonna Newman, who was appointed CEO of Lightyear earlier this 12 months, stated in a press release.
The Netherlands-based firm beforehand centered on designing EVs that relied closely on built-in photo voltaic panels, permitting for longer intervals between charging periods. The corporate’s Lightyear 0 had a standard battery pack and onboard charger, however the photo voltaic panels meant homeowners may not must cost for months, Lightyear claimed.
Lightyear 0 manufacturing at Valmet Automotive in Finland
This expertise—and Lightyear itself—originated with the World Photo voltaic Problem and Photo voltaic Workforce Eindhoven. That group’s vehicles, together with the Stella Vie that predicted the type of the Lightyear 0, received championship titles.
The Lightyear 0 entered manufacturing in late 2022, with Lightyear claiming on the time to be the first to convey a photo voltaic automotive to market. The corporate additionally claimed the 0 had essentially the most environment friendly powertrain and the most aerodynamic physique of any automotive in manufacturing on the time.
Nonetheless, the Lightyear 0 was an costly, area of interest mannequin. The automotive was to be constructed by contract producer Valmet in Finland, initially at a charge of only one automotive per week. Valmet had been on account of produce a 150-unit complete, though just a few preliminary autos had been constructed. The worth was set at roughly $170,000.
Waitlist introduced for Lightyear 2 photo voltaic automotive due in 2025.
Lightyear nixed the 0 to be able to pivot to the $40,000 Lightyear 2. The corporate introduced plans for this follow-up mannequin in 2021, and opened a waitlist in January 2023 in anticipation of beginning manufacturing on the finish of 2025. However the firm was experiencing monetary hassle because it made that announcement and by no means confirmed the place the two can be manufactured.
A pivot from promoting vehicles to promoting photo voltaic {hardware} to be used on different firms’ vehicles matches the trail of one other solar-EV startup. Sono Motors had additionally contracted with Valmet to fabricate its solar-assisted Sion hatchback, however terminated the venture earlier than manufacturing even began to concentrate on photo voltaic kits for business autos.
