Lightyear, a Netherlands-based, solar-powered electric vehicle developer backed by technology services provider Sioux Technologies, has closed a $48m funding round led by family office Zero Point Holding.
Founded in 2016, Lightyear is developing electric cars capable of recharging themselves with solar panels built into the roof and hood. Its Lightyear One model is expected to have a range of 725 km on a single charge.
The company is in the final stages of selecting a production partner and plans to make its first deliveries to customers at the end of 2021. It also looking to raise additional equity financing through a round expected to close later this year
Sioux Technologies and Dutch state-backed venture capital fund BOM Brabant Ventures invested an undisclosed amount in Lightyear in July 2020. The company had previously pulled in $6.1m of series A funding from more than 60 undisclosed investors in 2018.