Solar electric carmaker Lightyear closes funding round of $48 million
Post date: 15/03/2021 - 08:34
Lightyear acquired $48 million in its latest funding round, led by Zero Point Holding B.V., an investment vehicle of a Swiss family. The proceeds will support the company's »growth and path towards the first customer deliveries of the Lightyear One« at the end of this year, says the Dutch car manufacturer.
Lightyear is commercializing a highly efficient electric vehicle with integrated solar cells in order to minimize the charging needs and grid dependency of the vehicle. The »Lightyear One« will have a range of 440 miles and will be able to recharge from its own solar roof up to 80 percent of the annual yield for an average driver in San Francisco.
The company, based at the Automotive Campus in the Brainport Eindhoven region, has been active since November 2016. In the summer of 2019, the »Lightyear One« was announced worldwide, and the company is now gearing up towards the first customer deliveries at the end of 2021. To accelerate the development of the next model, a mass-market vehicle, Lightyear is currently working on additional equity financing to be executed in the remainder of 2021.