Lightyear declared bankruptcy, also arrival of Lightyear 2 in jeopardy

Over 600 people lose their jobs

Lightyear – based in Helmond – already filed for a moratorium earlier this week under the name of Atlas Technologies B.V. That turned into bankruptcy on Jan. 26. There is simply no more money to pay the staff. And that’s a fair number of people: over 600 employees are losing their jobs. The UWV provides further support for these people.

Financial aid

Things seemed to be going so well for Lightyear. With financial help from Invest NL, the Brabantse Ontwikkelings Maatschappij and SHV, the company was able to realize the Lightyear 0. Although that car, with a price tag of 250,000 euros, was too expensive for the general public, interest in the Lightyear 2 seemed to be good. Moreover, orders had already been written for these 2 – like the 0 also a car with solar panels on the roof. More than 20,000 cars were already on pre-order, including 10,000 from leasing company Arval.

Focus from Lightyear 0 to Lightyear 2

Now the only question is whether the Lightyear 2 will actually see the light of day. In any case, additional investors are needed to help this Brabant company. Production of the Lightyear 0 began in November 2022 at Finland’s Valmet. But there was no real production. Moreover, Lightyear already pulled the plug on production of the “zero” in mid-January.

After discussions with investors, it was decided to focus the money and all attention on the Lightyear 2, which should be a lot cheaper with a price tag of 40,000 euros. But the big question is whether that car will get there.

Hurry

Reinoud van Oeijen, trustee of Lightyear, says the following in conversation with NOS: “The whole Lightyear concept was in the B.V. that has now been declared bankrupt, that includes the development of the 2.” Behind-the-scenes efforts are currently underway to see if Lightyear can make a relaunch. Hurry, or it will be over and out for Lightyear. Above all, the company should not lose momentum.

Venray branch falls outside bankruptcy

The company employs a total of 620 people. Interestingly, the Venray location, where the company manufactures the solar panels used in the models, has not been declared bankrupt. About thirty people still work there; they keep their jobs.

Lightyear’s statement reads as follows:

“As announced on Jan. 23, we filed for a moratorium with respect to Atlas Technologies B.V., our operating company responsible for Lightyear’s production. This suspension was granted by Rechtbank Oost-Brabant in ‘s-Hertogenbosch, the Netherlands. Today this court declared Atlas Technologies B.V. bankrupt.“

“The court granted mr. R. van Oeijen of Holla legal & tax was appointed receiver. Lightyear regrets to make this announcement to all employees, customers, investors and suppliers and will work closely with the receiver and all stakeholders and hopes for their understanding and support. The trustee will focus on the position of the employees and creditors as well as how to continue the Lightyear concept in the coming period.“