Lightyear stops production on €250,000 solar-powered EV

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Lightyear, a manufacturer of solar-powered electric vehicles, announced that it is ceasing production of its premium Lightyear 0, a flagship model that retails for €250,000. Despite only beginning to produce the car three months ago, Lightyear is reorganising to concentrate on creating the Lightyear 2, which will sell for about €40,000.

The announcement comes as many manufacturers of electric vehicles postpone production and delivery dates due to a number of macroeconomic issues, including a lack of semiconductors, a lack of batteries, and rising material costs as a result of inflation. Throwing money into an extremely expensive model simply doesn’t make sense from a business standpoint, particularly in light of consumer recession fears and EV startups’ struggles to get cars off the assembly line.

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Lightyear stops production on €250,000 solar-powered EV

Lightyear, a manufacturer of solar-powered electric vehicles, announced that it is ceasing production of its premium Lightyear 0, a flagship model that retails for €250,000. Despite only beginning to produce the car three months ago, Lightyear is reorganising to concentrate on creating the Lightyear 2, which will sell for about €40,000.

The announcement comes as many manufacturers of electric vehicles postpone production and delivery dates due to a number of macroeconomic issues, including a lack of semiconductors, a lack of batteries, and rising material costs as a result of inflation. Throwing money into an extremely expensive model simply doesn’t make sense from a business standpoint, particularly in light of consumer recession fears and EV startups’ struggles to get cars off the assembly line.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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