March 12, 2021

Lightyear succesfully closes $48M funding round

Helmond, March 12, 2021 - Lightyear is proud to announce that its latest funding round, led by Zero Point Holding B.V., an investment vehicle of a Swiss family, has been successfully closed. The total raise of $48M marks Lightyear’s largest financing to date and will support their growth and path towards the first customer deliveries of the Lightyear One, its exclusive series car, at the end of this year.

The investments show trust in the solar car market and Lightyear’s execution of its in-house technology developments. Lightyear is commercializing a highly efficient electric vehicle with integrated solar cells in order to minimize the charging needs and grid dependency of the vehicle. Lightyear’s patent portfolio covers innovations for an efficient powertrain, high yield solar roof and optimized thermal management system. The Lightyear One will have a range of 440 miles and will be able to recharge from its own solar roof up to 80% of the annual yield for an average driver in San Francisco.

The company, based at the Automotive Campus in the Brainport Eindhoven region, has been active since November 2016. In the summer of 2019, the Lightyear One was announced worldwide, and the company is now gearing up towards the first customer deliveries at the end of 2021. They are in the final phase of selecting a production partner. To accelerate the development of the next model, a mass-market vehicle, Lightyear is currently working on additional equity financing to be executed in the remainder of 2021.

"This funding round will help us accelerate towards the first deliveries at the end of the year”, says Lex Hoefsloot, CEO and co-founder of Lightyear. “We are grateful for the support of all the individual investors and happy to welcome them as ambassadors to our mission."


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Lightyear One parked in the sun

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About Lightyear

Lightyear is on a mission to make clean mobility available to everyone, everywhere. Lightyear aims to eliminate the two biggest concerns for electric cars - charging and range - with an energy-efficient design and integrated solar cells. This allows motorists, depending on the climate, to drive up to twenty thousand kilometers per year on the power of the sun. The fast-growing company was founded in 2016 and currently employs more than two hundred employees. The team is made up of a mix of young talent and experienced names from the automotive industry, including former employees of Tesla, Jaguar, Landrover, Audi, McLaren, and Ferrari. In 2019, Lightyear received the Horizon 2020 grant from the European Commission, under grant agreement number 848620. In the summer of 2019, Lightyear launched its first driving prototype, Lightyear One, and opened a new office in the region of Brainport Eindhoven. The prestigious TIME Magazine acknowledged Lightyear One as one of the ‘100 best inventions’ of 2019. In 2020, Lightyear won the ‘Rising Star’ and ‘Most Disruptive Innovator’ Award of the Technology Fast 50 program organized by Deloitte. The first model of Lightyear One will go into production in the summer of 2022 as an exclusive car series.

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This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No. 848620