Subsidiary Dutch Lightyear goes bankrupt
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This week we announced that Lightyear was not doing well, now we have even worse news. A subsidiary was declared bankrupt.
Lightyear announced earlier this week that it would end production of the 0 despite orders from customers and companies. The company then indicated that it would focus on the Lightyear 2, the cheaper solar car. It remains to be seen whether that will happen. It is clear that the manufacturer is in dire straits.
Subsidiary Lightyear bankrupt
Lightyear’s bankrupt subsidiary is named Atlas Technologies. The company is responsible for building the prototype of the Lightyear 0. About 650 people worked there. The court in East Brabant has appointed a curator. It checks whether a restart is possible.
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Atlas Technologies’ bankruptcy does not mean that Lightyear is already bankrupt. The solar car brand is the intellectual property of Atlas Technologies Holding BV, but the Dutch solar car maker is not in good shape.
“Lightyear regrets the decision for all employees, customers, investors and suppliers. We will be working closely with the trustee and all stakeholders,” the company said in a statement.
Can the Dutch brand still be saved?
Now that Lightyear’s fate is in the hands of the trustee and the operating branch is bankrupt, Lightyear 0 will reportedly never be restored. If the Helmond manufacturer can continue, then the cheaper 2 Series is the right model to save the brand from demise.
Lightyear 0 very unique now
While all of this is bad news for the brand, the news is positive for the people who bought a 0. The car was very expensive. Now that the model has become so unique, its value is expected to increase.
Autovisie drove 0 last year. The car tested is one of the few examples. Only one car rolled off the assembly line per week. How many cars were built exactly is still unclear. There will be no more than 8 copies. In the video below, Dries van den Elzen takes you inside the Lightyear 0.
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I’m Jamie Bowen, a dedicated and passionate news writer for 24 News Reporters. My specialty is covering the automotive industry, but I also enjoy writing about a wide range of other topics such as business and politics. I believe in providing my readers with accurate information while entertaining them with engaging content.
