Two South Korean companies will invest in car manufacturer Lightyear from Helmond. Both investors are already active in the South Korean automotive industry.
Lightyear made contact with Sunbo Angel Partners and Lighthouse at the beginning of this year during the Consumer Electronics Show (CES) 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 in the areas of green energy, sustainability and space technology. According to Hoefsloot, his company had been in discussions with Sunbo about financing for several months.
Lightyear stopped production of its first solar car at the beginning of this year. Shortly afterwards the company went bankrupt because the production of the luxury Lightyear One was too expensive. In April it was announced that the company is making a new start in a slimmed-down form. The company focuses more on solar technology for other automakers. South Korean investors see value in this.
2023-12-21 07:49:50
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