Lightyear, A Solar Electric Vehicle Startup, Raises $ 48 Million

Dutch electric vehicle company Lightyear has announced a $ 48 million round of financing, led by Zero Point Holding B.V.The funds will be used to support growth and the first delivery line to the company's first electric vehicle customer, Lightyear One, by the end of this year. Lightyear aims to market electric vehicles that use integrated solar cells to minimize charging requirements while reducing reliance on the grid for charging. Lightyear technology includes an efficient powertrain, a high-efficiency sunroof, and a thermal management system optimized for electric vehicles. The Lightyear One can travel up to 55 km (34 miles) per day on solar power alone, which is enough to cover Europe's average daily commute of 28 km per day, according to Lightyear. With a round trip of 28 km, the Lightyear One solar panels will cover the energy needs of approximately 60% of the daily trip.