Dutch solar electric carmaker Lightyear in trouble as its subsidiary declared bankrupt

Atlas Technologies, a subsidiary of Lightyear and the company responsible for the production of Lightyear 0, has been declared bankrupt. 

A couple of days back, the Dutch company submitted the request to the court to open suspension of payment proceedings in relation to Atlas Technologies.

On Thursday, January 26, the suspension was granted by Rechtbank Oost-Brabant located’s-Hertogenbosch in the Netherlands. As a result, the court declared Atlas Technologies bankrupt. 

The court appointed Mr. R. van Oeijen from Holla legal & tax as trustee.

The Helmond-based car manufacturer says it regrets announcing bankruptcy news for all employees, customers, investors, and suppliers.

“In the coming period, the trustee will focus on the position of the employees and creditors as well as assessing how the Lightyear concept can be continued,” says the company.

According to De Telegraaf, the company employs around 650 people. 

Earlier this week, Lightyear decided to suspend the production of Lightyear 0 to focus resources on Lightyear 2. 

De Telegraaf also reveals that the production of Lightyear 0 started in Finland last year around November-end. However, the car, which was initially supposed to cost €100K to build, has been increased to €250K. 

The report also said fewer cars, around 150, were manufactured compared to the initial plan of 1000 cars. The Dutch company’s spokesperson said ‘a handful’ has been completed.

The company also said it has signed a pre-order agreement with vehicle leasing company Arval for 10,000 units of Lightyear 2. 

Lightyear 2 production in 2025

Earlier this month, the Dutch company opened the waiting list for Lightyear 2, aiming to make electric driving accessible and convenient at a more affordable price point.

Initially, Lightyear 2 will be available in the US, UK, and EU regions, and production will start by the end of 2025 with an estimated price point of below €40,000.

Lightyear: What you need to know

Founded in 2016 by Arjo van der Ham, Koen van Ham, Lex Hoefsloot, Martijn Lammers, and Qurein Biewenga, Helmond-based Lightyear is a tech company developing an ultra-energy-efficient automotive platform. 

Through its design and integrated solar cells, the company aims to eliminate the two most significant concerns for electric cars – high charging frequency and limited range. It allows motorists to drive up to 11,000 KMs per year with the sun’s power, depending on the climate.