The Dutch solar car brand Lightyear, which is currently working on the One, is considering an IPO. The company, founded in 2016, announced this after the most recent investment round, raising € 40 million. The extra capital from the possible IPO should primarily benefit the development of a second model.
Lightyear is currently working hard on getting the One, unveiled in 2019, for production, the very first model of the new Dutch car brand. The company is still looking for a partner for the production of the cars, but is nevertheless aiming to be able to deliver the first cars to customers this year. The ambition does not stop there, because the company is already working on a next model, which should become cheaper than the € 150,000 One. In order to cough up the development costs of this model, Lightyear is now considering going public. However, a final decision on this possible IPO has not yet been taken. Recently, Lightyear raised another € 40 million in a final round of investment, with an unnamed Swiss family being the largest contributor.
The Lightyear One is in the vein of cars such as the Tesla Model S and Porsche Taycan in terms of size and pricing, but is distinguished by the solar panels on the roof that provide power to the battery. According to Lightyear, the One is therefore a lot lighter and more efficient than the previously mentioned EVs. Last year, Lightyear also conducted practical tests with solar cells on a Tesla Model 3 and a Volkswagen Crafter. The company also wants to sell its solar cell technology to third parties in the long term. How these ambitions will ultimately be expressed in practice will have to become clear in time.