Valmet Automotive has signed a letter of intent on vehicle manufacturing with Lightyear, the Netherlands-based technology company. The contract contains the manufacturing of the Lightyear One exclusive series, a uniquely designed electric vehicle with integrated solar cells. The production is scheduled to start in 2022 in Uusikaupunki, Finland.
The Lightyear One model features a unique energy-efficient design with integrated solar cells to eliminate the main concerns for electric cars, charging and range. Lightyear recently achieved an important technology milestone by driving 710 km of range with its Lightyear One prototype car, demonstrating the long-range performance and validating their in-house developed technology. The Lightyear company was founded in 2016 and employs currently more than 200 employees.
Co-operation with Lightyear meets perfectly Valmet Automotive’s ambitions for new vehicle manufacturing, as the company’s strategy focuses on e-mobility and emphasizes sustainability. Valmet Automotive is an EV pioneer, with the first EV in series production already in 2009. The co-operation with Lightyear will lead the company to the cutting-edge of EV manufacturing technology and knowhow.
The manufacturing contract will be for a limited, exclusive series of model Lightyear One. The production requires a new, model-dedicated assembly line, and the production is scheduled to start in the first half of 2022.
Two years ago, we announced our prototype Lightyear One. We are really excited to have found a production partner with whom we will manufacture this exclusive model. Valmet Automotive is a great partner, has a well-established track record and over a decade of experience in EV production. It’s also a good cultural fit with our company, says Lex Hoefsloot, CEO and co-founder of Lightyear.
Our experience as a car manufacturer as well as our focus on electric mobility and battery systems make us predestined for processes in which mobility must be redefined. We are ready to enter new areas in manufacturing cars and are therefore pleased that Lightyear has selected us as their production partner, says Olaf Bongwald, CEO, Valmet Automotive.
Lightyear and Valmet Automotive aim to conclude the contract manufacturing agreement regarding the cooperation outlined in the letter of intent during August.