Lightyear files for insolvency for »Lightyear 0« production company

On Monday (January 23), the Dutch company Lightyear filed a petition with the competent court to open insolvency proceedings against Atlas Technologies B.V.. This is the operating company registered in the Dutch trade register with the brand name »Lightyear« and responsible in particular for the production of the solar car »Lightyear 0.« The two companies Atlas Technologies Holding B.V. – owner of the intellectual property and parent company of Atlas Technologies B.V. – and Lightyear Layer B.V. are not the subject of the proceedings.
This means that series production of the Lightyear 0 at the Finnish vehicle contract manufacturer Valmet Automotive, which only began in December, has been discontinued. Instead of this model, which with the most recently mentioned sales prices of €250,000 ($272,000) is presumably hardly saleable, the company now wants to focus completely on the further development of the »Lightyear 2.« The »target starting price« for this model is €40,000 ($43,500).
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