Solar electric automaker Lightyear cancels production of its first expensive model

The manufacturer of the solar-assisted Lightyear electric cars is stopping production of its first expensive model, and allowing the business unit responsible for it to go bankrupt. The Helmond company decided to do this after there was a great deal of interest in the much cheaper mass production model that it wants to make in a few years.

An estimated 21,000 of these have already been ordered by leasing companies and car-sharing companies. In addition, more than 40,000 consumers have already signed up for a waiting list to express their interest in that car.

The Lightyear 0, previously known as Lightyear One, went into production at a factory in Finland at the end of November. At first, about one car per week was to be produced, and that was supposed to be increased over the course of this year.

Originally, the car cost about 120,000 euros, but that increased to 250,000 euros, partly due to the expensive parts used. According to Lightyear, the 0 can travel over 800 kilometers on a full battery, while the solar panels on the roof can provide an extra charge.

CEO Lex Hoefsloot said that Lightyear is currently trying to complete a number of new investment deals. This should allow the company to fully focus on the cheaper Lightyear 2. That car should cost less than 40,000 euros, and will be on the market in 2025.