Lightyear halts production of solar-powered electric vehicle after three months
Lightyear halts production of solar-powered electric vehicle after three months

Lightyear halts production of solar-powered electric vehicle after three months

24 january, 20232 minutes to read
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It intends to concentrate on manufacturing a more affordable vehicle targeted at the mainstream market.

Lightyear, an electric vehicle company, has announced that it will halt production on its high-end, solar-powered car, the Lightyear 0, due to "strategic restructuring." The company stated that it will instead focus on creating the Lightyear 2, a more affordable car with a target production date of late 2025. The decision will affect employees, investors, clients, suppliers and the government.

The reason for halting production on the Lightyear 0 was not specified, but the company stated that it has faced several challenges recently and that this move is meant to protect their vision. Lightyear also announced that it will seek court proceedings for "suspension of payment" for the company responsible for manufacturing the Lightyear 0.

The Lightyear 0, introduced in 2019, was intended to be a premium vehicle, with a price to match. It was one of the first electric vehicles (EVs) to include solar power capabilities, with a theoretical range of 44 miles from five square meters of panels. However, it is unclear how many of these vehicles were actually produced, as the company's original plan was to produce 946 units.

The Lightyear 2, announced at CES 2021, is aimed at a different market and will be priced more affordably. The company has already received 20,000 pre-orders for the vehicle, which is a crossover. The development of the Lightyear 0 provided valuable insights and experience that will be applied to the Lightyear 2, according to the CEO and co-founder of the company.

It is unclear how many Lightyear 0s were produced, and what will happen to any units that have already been manufactured. The company has not yet commented on the matter or on whether there will be any layoffs as a result of the restructuring. Additionally, it is not clear how the company plans to fund the production of the Lightyear 2. The company stated that it hopes to secure key investments soon in order to scale up for the Lightyear 2, but it remains uncertain how this recent announcement will impact those plans.

24 january, 2023
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