Strategic restructuring means suspension of production of Lightyear 0 model
Through innovation, dedication, and daring we are shaping the future. Our vision is to offer clean mobility for everyone, everywhere. We first developed Lightyear 0, the first production solar car in the world. At the same time we developed Lightyear 2, the affordable solar electric vehicle available for a wider audience. To make this a reality, we as a company are overcoming many challenges.
The past months we have worked hard to deal with those challenges. In order to safeguard our vision, we had to decide to redirect our focus and resources completely towards Lightyear 2. This means in effect that we had to suspend the production of Lightyear 0.
This decision was not taken lightly as it impacts all who embarked on this journey with us. Those are of course our own employees, who work day in day out to make solar mobility a reality, alongside our investors, clients, suppliers and the government.
This morning we therefore submitted the request to the court to open suspension of payment proceedings in relation to Atlas Technologies B.V., our operating company responsible for the production of Lightyear 0. This is a subsidiary of Atlas Technologies Holding B.V. Atlas Technologies Holding B.V., which holds the IP rights, and Lightyear Layer B.V. are not in scope of the suspension of payments proceedings of Atlas Technologies B.V.
CEO and Co-Founder Lex Hoefsloot: ‘Unfortunately we had to make this decision. The whole process of developing Lightyear 0 has provided our company many valuable learnings over the past years. We are now redirecting all our energy towards building Lightyear 2 in order to make it available to clients on schedule.’
Hoefsloot: ‘Recently, we launched a waitlist for Lightyear 2 resulting in more than 40,000 subscriptions of individual customers and we already had approximately 20,000 pre-orders from fleet owners. We hope to conclude some key investments in the coming weeks in order to scale up to Lightyear 2, an affordable solar electric vehicle available for a wider audience.’
Therefore we strongly believe that the decision taken is the best way forward in achieving our vision, providing clean mobility for everyone, everywhere.