Saturday 01 April 2023

Lightyear 0 unit goes bust, impact on future car plans unclear

Production of the Lightyear 0 has just started. Photo: Company handout

Helmond based Atlas Technologies which is responsible for production of the Lightyear 0 solar powered car, was declared bankrupt on Thursday, with the loss of 620 jobs.

Parent company Lightyear had asked for court protection from creditors for the unit earlier this week, after announcing that production of the 0 model would stop.

The company said in a short statement that the curator will now focus on the position of the employees and creditors as well as assessing how the Lightyear concept can be continued.

The main holding and another subsidiary are not affected by the bankruptcy and retain the intellectual property rights and patents.

The news comes just weeks after the company announced a new 10,000 vehicle order for its more affordable family car, the Lightyear 2.

As yet, it is unclear what the impact of the bankruptcy will be on plans to role that out in 2025.

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