Lightyear 0 Zenith Studio side top 4K e1662396382419

Solar-powered car maker Lightyear raises $85M and gears up for production – Technology Flow

Lightyear 0 Zenith Studio side top 4K e1662396382419

Lightyear, a Dutch startup developing a long-range solar-powered car, has announced it has raised €86 million ($85 million) as it prepares to start production of its first vehicle in the coming months.

Although recent history is littered with examples of solar-powered prototype vehicles, the emerging electric car movement has so far been largely limited to automobiles that plug into the grid for charging, or self-charging hybrid electric vehicles (HEV). Driving. Several companies are pushing to make solar-powered cars a mass-market reality, but Germany’s Sonos Motors recently revealed the final product design of its initial solar electric vehicle, due to launch sometime in 2023. and Lightyear, a six-year-old startup that relaunched its prototype in 2019 and has previously raised more than $100 million.

Driving change

Introducing solar-charging to the electric vehicle fray solves two problems in one – drivers don’t have to worry too much about where the nearest charging station is, as the car can be topped up continuously while parked. And drivers can travel further without plugging in, with Lightyear offering more than 600 miles of range on a single charge. This is, of course, highly dependent on individual driving habits, as well as the time of year as sunlight is crucial.

Lightyear 0 The global premiere of the world s first solar car June 9 2022 01 4K

Lightyear CEO Lex Hoefsloot launches company’s first solar car June 9, 2022

Lightyear will begin production of its Lightyear 0 (formerly called Lightyear One) car this coming fall, costing prospective buyers €250,000. In addition, Lightyear is already working on a follow-up, the Lightyear 2, its full mass-market model, which weighs in at a more affordable €30,000 – which is expected to reach production in 2025.

Lightyear’s latest cash injection includes capital from Invest-NL, an investment firm set up by the Dutch finance ministry in 2020, and a public consortium of backers that includes private funds such as SHV and Dela.

“In the current market environment, our technology has tremendous potential for positive social impact, so I see investments of this caliber as a testament to Lightyear’s product vision,” Lightyear CEO and cofounder Lex Hofsloot said in a statement. “[Lightyear] On track to deliver the world’s first solar car and work towards a more sustainable future.

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