Solar-powered automaker Lightyear raises $81 million and gears up for production
Lightyear, a Dutch start-up developing a long-range hybrid solar car, today announced that it has raised €81 million ($81 million) as it prepares to launch production of its first vehicle in the coming months.
While recent history is littered with examples of prototype solar-powered vehicles, the nascent electric car movement has so far been mostly limited to automobiles that need to be plugged into the grid to charge, or hybrid electric vehicles (HEV) that are self-powered. -charging while driving. However, a number of companies are working to make solar-powered cars a reality in the mass market, such as Germany's Sono Motors, which recently revealed the final production design of its first solar electric vehicle, including slated to launch in 2023. And Lightyear, a six-year-old startup that launched its prototype in 2019, which previously raised over $100 million in funding.
Introducing solar charging to the EV fray essentially solves two problems in one: Drivers don't have to worry about the location of the nearest charging station, as the car can recharge by itself when moving or when parked. And cars can travel further without having to plug in, with Lightyear promising a range of over 600 miles on a single full charge. This of course depends hugely on individual driving habits, as well as the time of year, as sunlight is essential. But someone who only drives, say, 20 miles a day may be able to go an entire summer without plugging their car into the grid, relying entirely on the charge it receives from the sun each day. p>
Under perfect and optimal conditions, Lightyear said the vehicle can potentially self-power up to 40 miles per day, in addition to the power it draws from its connection to the grid.
Lightyear CEO Lex Hoefsloot launches the company's first solar car on June 9, 2022
Lightyear is expected to start production of its Lightyear 0 car (formerly called Lightyear One) this fall, which will cost potential buyers a whopping $250,000. So far, the company has pre-sold 150 of these vehicles, and it has the capacity to build nearly 1,000, indicating that the initial product is more of a technology demo than anything else. p>
"Because Lightyear 0 is designed as a technology demonstrator, we will produce it in limited quantities and this first car will only be delivered to European Union countries, as well as Norway and Switzerland," said Lightyear's public relations and communications manager. Rachel Richardson told TechCrunch.
In tandem, however, Lightyear is also w...
Lightyear, a Dutch start-up developing a long-range hybrid solar car, today announced that it has raised €81 million ($81 million) as it prepares to launch production of its first vehicle in the coming months.
While recent history is littered with examples of prototype solar-powered vehicles, the nascent electric car movement has so far been mostly limited to automobiles that need to be plugged into the grid to charge, or hybrid electric vehicles (HEV) that are self-powered. -charging while driving. However, a number of companies are working to make solar-powered cars a reality in the mass market, such as Germany's Sono Motors, which recently revealed the final production design of its first solar electric vehicle, including slated to launch in 2023. And Lightyear, a six-year-old startup that launched its prototype in 2019, which previously raised over $100 million in funding.
Introducing solar charging to the EV fray essentially solves two problems in one: Drivers don't have to worry about the location of the nearest charging station, as the car can recharge by itself when moving or when parked. And cars can travel further without having to plug in, with Lightyear promising a range of over 600 miles on a single full charge. This of course depends hugely on individual driving habits, as well as the time of year, as sunlight is essential. But someone who only drives, say, 20 miles a day may be able to go an entire summer without plugging their car into the grid, relying entirely on the charge it receives from the sun each day. p>
Under perfect and optimal conditions, Lightyear said the vehicle can potentially self-power up to 40 miles per day, in addition to the power it draws from its connection to the grid.
Lightyear CEO Lex Hoefsloot launches the company's first solar car on June 9, 2022
Lightyear is expected to start production of its Lightyear 0 car (formerly called Lightyear One) this fall, which will cost potential buyers a whopping $250,000. So far, the company has pre-sold 150 of these vehicles, and it has the capacity to build nearly 1,000, indicating that the initial product is more of a technology demo than anything else. p>
"Because Lightyear 0 is designed as a technology demonstrator, we will produce it in limited quantities and this first car will only be delivered to European Union countries, as well as Norway and Switzerland," said Lightyear's public relations and communications manager. Rachel Richardson told TechCrunch.
In tandem, however, Lightyear is also w...
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