After things quickly spiraled for Lightyear earlier this year, the solar-powered EV maker has returned with a smaller team and a renewed focus.
The company in January abruptly halted production of its Lightyear 0 EV just months after starting. The Lightyear 0, which promised upwards of 7,000 miles of driving per year without the need to stop and charge, had generated some interest. But its massive $270,000 price tag made it an unrealistic option for many consumers.
Shortly after shutting down work on the Lightyear 0, the company filed for bankruptcy, a move which left some 600 employees out of a job.
But now it seems like the sun is shining on Lightyear once again. The company this week announced that it has finished restructuring and restarted activities with a team of around 100 people. As part of the restructuring, the parent company of Lightyear, Atlas Technologies, has also now filed for bankruptcy. That means the IP and the team of the solar panel division, a subsidiary of Atlas, will become part of the new Lightyear.
The automaker said that in the coming months its primary focus will be on developing the Lightyear 2 at an affordable price and to raise additional funding for the next steps in the development of its solar-powered vehicle.
Most of the details and specs for the Lightyear 2 are still under wraps. The company said it expects to reveal the full design this summer but it has already predicted the Lightyear 2 will start at $40,000 and be capable of driving up to 500 miles between charges. The car is currently scheduled to enter production at the end of 2025.