Solar car trailblazer Lightyear has received 81 million euros in additional capital. The injection ensures production targets of the company’s model 0 and steers development for model 2. It will also support work to accelerate access to clean mobility, backing pivotal next steps toward international expansion beyond Europe.
Part of these latest funds comes from a public consortium, which is anchored by impact investor Invest-NL (with a €25M contribution) and includes the province of North Brabant (€7.5M), its regional development agency BOM (€5M) and Limburg counterpart LIOF. Additional money comes from new private funds and follow-up investments from SHV and Dela. They join an existing group of partnerships and investors, including Bridgestone, Koenigsegg, Leaseplan, Valmet Automotive and NXP.
Following the global premiere of the Lightyear 0 in June, the company has been laying crucial inroads for the Lightyear 2. The R&D plied into the first model gives this next model a headstart, not only in creating an even more efficient and capable car but also in making it more accessible with a competitive market price, starting at 30,000 euros. Leasing and car-sharing companies Leaseplan and Mywheels have each already reserved 5,000 vehicles. The goal is to bring the Lightyear 2 to the market by 2025.