News
Two South Korean Companies Are Investing Millions (Euros) In The Lightyear Brand
Lightyear, the young Dutch company that worked on cars that can be charged with solar energy, has received a capital injection. Two South Korean companies are investing millions in it.
Two South Korean companies, Sunbo Angel Partners and Lighthouse, are jointly investing millions in Lightyear. At Sunbo, the amount is reportedly 3.5 million euros. Both investors are already active in the South Korean automotive industry. This does not yet mean that the production of Lightyear’s solar cars will be restarted. According to the FD, Sunbo and Lighthouse are interested in Lightyear’s current goal of building solar roofs for cars. Lightyear stopped production of its first solar car at the beginning of this year, and shortly afterward, the company went bankrupt. In April, it was announced that the company is making a fresh start in its current slimmed-down form.
Contact with the two companies was made during the Consumer Electronics Show (CES) early this year in Las Vegas, says Lightyear CEO Lex Hoefsloot. “This move also broadens our access to the strong South Korean automotive sector.”
South Korea is the fifth-largest car producer in the world. Since its founding in 2016, Sunbo Angel Partners has invested in more than 120 new technology companies active in the fields of green energy, sustainability, and space technology. According to Hoefsloot, discussions about financing had been going on with Sunbo for several months.
