Atlas Technologies, a subsidiary of car manufacturer Lightyear, was declared bankrupt on Thursday. The company was responsible for the production of the Lightyear 0, the first production car of its parent company. The company has more than six hundred employees.
Lightyear confirms the bankruptcy of subsidiary Atlas Technologies B.V. in a press release. The court in Den Bosch has appointed a trustee who will focus on the position of employees and creditors in the coming period. De Volkskrant and het Eindhovens Dagblad write that 620 employees will lose their jobs. That is the majority of Lightyear’s workforce.
The Dutch solar car manufacturer announced on Monday to have applied for a suspension of payments for Atlas Technologies, which was responsible for the production of the Lightyear 0. Production of that car was also halted. Production of the Lightyear 0 started in November at the Finnish car manufacturer Valmet. Lightyear has previously emphasized that parent company and sister company Atlas Technologies Holding are not covered by the bankruptcy filing. This means that intellectual property and patents remain in the possession of Lightyear.
The curator will continue to ‘assess how the Lightyear concept can be continued’, the automaker writes in a statement. The company indicated this week that it now wants to fully focus on developing Lightyear 2, a more affordable solar car intended for the masses. According to the current planning, the Lightyear 2 should appear on the market in 2025 at a suggested retail price of less than 40,000 euros. The Lightyear 0 cost 250,000 euros.
