Invest-NL invests € 25 million in Lightyear

Next to Invest-NL the public consortium consists of the province of North Brabant, and regional development agencies for the provinces of North Brabant and Limburg (BOM and LIOF). Additional investments come from new private funds and follow-up investments from SHV and DELA.

With this investment, Lightyear can continue to work on its mission to bring clean mobility to everyone, everywhere. More specifically, the new funds will ensure the company advances in the production of Lightyear 0, the premier solar electric car to hit roads this year. In addition, they enable the company to achieve the development milestones for Lightyear 2, its mass-market follow-up model with a starting price of € 30,000. Lightyear 2 is expected to go into production by 2025 and currently has 10,000 reservations.

“Lightyear has been making consistent progress since its founding and is an example of high-quality innovative entrepreneurship,” says Rinke Zonneveld, CEO of Invest-NL. "Their technology, strategic partnerships and business acumen are a perfect fit with Invest-NL's ambition to help develop new technology-driven markets. We look forward to supporting this promising Dutch gem in their growth into a global OEM."

Lex Hoefsloot, CEO and Co-Founder of Lightyear, said, “In the current market environment, our technology has incredible potential for positive societal influence, so I see investments of this caliber as a testament to Lightyear’s product vision. Thanks to the support of Invest-NL, the entire consortium, and our other investors and strategic partners, Lightyear is well positioned and remains on track to deliver the world’s first solar car and work towards a more sustainable future.”

The investment of € 25 million in Lightyear is partly realized through a co-investment facility of Invest-NL and the province of Noord Brabant.