EV Maker Lightyear Files Bankruptcy After $45,000 Model Debut

Just weeks right after announcing a less expensive EV model, it appears like the small business of producing photo voltaic autos proved far too significantly for Lightyear and its production firm, Atlas Systems. The Dutch organization recently filed paperwork for bankruptcy with a court docket in Netherlands, Autoblog studies.

Lightyear strike the world phase in 2019 with a quarter-million-dollar, 5-door liftback photo voltaic-charging Lightyear 1. A production version shortly adopted termed Lightyear that cost €119,000 or about $141,000 in American bucks. The featured more than a thousand smaller photo voltaic panels on its exterior that could capture the sun’s electrical power to cost the car’s 60 kWh battery. Generation of the was eventually outsourced to a Finnish corporation soon after acquiring an buy for 946 models, and in November it was making just a person vehicle a 7 days. That selection was intended to bounce to five cars and trucks a 7 days by mid-2023.

Yet another, cheaper Lightyear product was debuted at CES in January. The Lightyear 2 experienced a claimed vary of 500 miles and a starting selling price of just $45,000, with production aimed to getting in 2025. But with the individual bankruptcy announcement, the 2’s long run appears up in the air.

The company’s foreseeable future might also be up in the air — Lightyear issued a statement apologizing to those people influenced by the go.

Lightyear regrets getting to make this announcement for all workforce, consumers, traders and suppliers and will function closely with the curator and all the men and women who are included and hope for their understanding and support. In the coming period of time the trustee will target on the placement of the staff and creditors as nicely as evaluating how the Lightyear strategy can be continued.

G/O Media could get a fee

Expand all those luscious locks back
This proprietary, prescription-grade topical Finasteride is tested to regrow hair in just a couple of months.

Even with the sudden bankruptcy announcement, Lightyear could even now have a long term on the streets. Lightyear’s holding firm, Atlas Technologies Holding B.V. (not Atlas Systems, which is the manufacturing organization), is not part of the individual bankruptcy. It owns the mental house of Lightyear automobiles. So, if it can locate a backer with appropriately deep pockets, the cars and trucks may possibly nonetheless find their way to the streets below the sunshine, sometime.