A Dutch startup called Lightyear is developing a long-range solar-powered automobile, and it revealed that it has raised €86 million ($85 million) as it gets ready to start making its first model.
With a starting price of €250,000, Lightyear’s Lightyear 0 (formerly known as Lightyear One) car is set to go into production this fall. And the Lightyear 2 is the company’s full mass-market vehicle, which weighs in at a more reasonable €30,000, and is currently under development. It is anticipated to go into production in 2025.
“In the current market environment, our technology has incredible potential for positive societal influence, so I see investments of this caliber as a testament to Lightyear’s product vision,” stated Lightyear CEO and cofounder Lex Hoefsloot.
In addition to private financing from companies like SHV and Dela, the most recent round of funding for Lightyear comes from a public consortium of investors that includes Invest-NL, an investment firm established by the Dutch Ministry of Finance in 2020.
