Getting out of bankruptcy is no easy feat, but solar company Lightyear seems to be doing it.
The emerging automaker filed for bankruptcy earlier this year. But just a month later, the company announced a realignment to focus fully on its new mainstream model, the Lite Year 2.
After unsuccessful attempts to persuade investors to support the first solar-electric Lightyear model, the company focused all its efforts on developing the Lightyear 2. Lightyear's early problems may have started with the price of its original model. , which was expected to sell for $260,000.
If the company succeeds, Lightyear 2 will be a huge step forward for clean energy vehicles. The solar electric design allows for a range of more than 500 miles between charges thanks to "solar cells" integrated into the exterior of the vehicle.
Lightyear also claims that the car can be charged three times less than a conventional electric vehicle. In addition, Lightyear claims the vehicle has the smallest energy footprint on the market - with lifetime emissions half of those of a conventional electric vehicle. And with a price tag of under $40,000, it could be ideal for long-term vehicles.
With specs like this, it's hard to see a downside to the Lite Year 2. In fact, at this point, Lightyear is so confident that it's offered investors its intellectual property as collateral.
For many, solar vehicles seem to be the next logical step towards clean energy vehicles. Dan Kamen, a professor of energy at the University of California, Berkeley, told CNBC that he expects solar technology to be the most cost-effective for consumers.
"Solar panels are so cheap and so easy to fit into the [vehicle] chassis that I can't imagine it won't be profitable once you get past the initial learning curve, the first two thousand vehicles," Kamen said in the media.
If all goes as planned, Lightyear 2 will launch in early 2025. There is also a free waiting list where you can sign up to be the first to know when Lightyear 2 ends.
We hope that Lightyear 2 can extend the durability of our cars to infinity and beyond.
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