It’s been a real tough month for the few but extremely innovative solar EV companies out here. Having just announced a shifting of its business strategy and a request to suspend all payments to its operating company, Lightyear has officially declared bankruptcy. Sono Motors’ flagship solar EV, the Sion, is staring down a similar barrel, as the startup fights to raise more funds to keep it alive. Meanwhile, Aptera has a production-intent design, but still needs millions of dollars to get it to production.
Let’s begin with the worst news and try to find some more positive tidbits going forward. It pains me to say this, but Lightyear has officially declared bankruptcy. Just three days after announcing a halt to all Lightyear 0 production to focus on the 2, it appears the future of each is in limbo, or even worse, will remain an extremely aerodynamic dream.
At the time, Lightyear shared that it had requested a halt to all payments to Atlas Technologies B.V. – its operating company responsible for its solar EV production. The suspension was granted by Rechtbank Oost-Brabant located in the Netherlands, appointing someone from Holla legal & tax as the trustee. Per the release:
Lightyear regrets having to make this announcement for all employees, customers, investors and suppliers and will work closely with the curator and all the people who are involved and hope for their understanding and support. In the coming period the curator will focus on the position of the employees and creditors as well as assessing how the Lightyear concept can be continued.
This news continues to come as a shock for many as Lightyear was just teasing its second solar EV model at CES in early January, full staff in tow. As the last sentence from Lightyear states, its solar EVs stumble back into “concepts” rather than production vehicles.
Its only hope now may be for someone to purchase its intellectual property and take a crack at scaling, or it regroups for several years, garners more funding, and re-emerges like Aptera did.
More on Aptera in a second, but we’ve got another solar EV update from Sono Motors as well, and it’s not nearly as devastating… at least not yet.
Sono raises over $50M, extends #SaveSion campaign
Lightyear may have lost its shirt, but another solar EV startup in Europe still has some fight left in it. In early December, Sono Motors CEOs and cofounders Jona Christians and Laurin Hahn delivered a public statement outlining the financial struggles of its Sion solar EV program.
They explained that the future of the Sion was on the edge of being scrapped completely so Sono could focus on its revenue-generating solar technology business. As a company that has been saved by its network of loyal fans before, Sono launched a 50-day fundraising campaign called #SaveSion asking reservation holders to commit to their solar EV purchase.
Sono Motors explained it would use those committed funds to help kick off a 12-month journey to get the Sion solar EV into production. Following the full 50-day campaign, Sono says it has raised over €47 million (about $51M). However, that’s merely half of its target to proceed with Sion production.
Now, the Sono team says talks with potential investors are progressing, so it has extended the #SaveSion campaign through February. Sono cofounder and CEO Laurin Hahn spoke:
Our plan to send a clear signal to both the market and investors through growing reservations, payment commitments, and additional sources of almost €50 million seems to be working. We are in ongoing talks with potential investors and believe that the campaign’s extension positions us to reach our target of approximately €100 million and proceed with the Sion program. The engagement of thousands of Community members has proven the market demand for the Sion once again. The determination we feel from the thousands of calls, emails, and personal interactions with the Community, combined with the inquisitive feedback of numerous potential investors, empowers us to continue both the campaign and our fight for the Sion – our affordable, climate-friendly and unparalleled mobility solution.
While fighting to raise capital, Sono Motors has continued its testing and series-validation program of the Sion, which it says remains on a fast track to start pre-series production this summer. Pending February’s results of course.
Reservations can currently be made in 27 different European regions, but unfortunately, US consumers cannot join the movement. You can learn more at the #SaveSion dedicated page.
Aptera adds DC fast charging to solar EVs but needs cash
Last but not least is Aptera, the only US-based solar EV startup on our list today. Nothing new to report this second, so just a quick recap while we’re talking SEV struggles. Last week, the company presented a preconfigured Launch Edition of its Aptera Solar EV, which will be the first version available to reservation holders if and when it reaches production.
If that does happen, we’ve learned the Launch Edition (and any other Apteras) will come with DC fast-charging capabilities after the company made a quick U-turn on statements last week that said otherwise. This sent fans of the solar EV company into a tizzy, but Aptera’s founders took the feedback to heart… plus they were already developing the capability anyway, so they decided to add it.
Regardless of fast-charging capabilities, there’s still a chance that Aptera follows the same fate as Lightyear (and potentially Sono) by running out of money. During last week’s reveal, cofounder Chris Anthony explained that Aptera is in need of at least $50 million in additional capital this year just to reach the first gate of volume solar EV production.
To date, the company says it has raised $85 million from over 15,000 investors, including previous crowdfunding campaigns, but will need more cash to implement the necessary tools and machinery to mass produce its vehicles.
In addition to more crowdfunding, Aptera’s founders explained they are seeking government loans and grant programs to reach that additional $50M and beyond. All in all, the Launch Edition SEVs are still 12 months away at the earliest, pending Aptera’s own capital raise campaign.
Not the brightest time for solar EV development, but the technology has been proven effective and could truly change electric mobility… someday. We just need to see who has deep enough pockets to scale it to the masses.
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Rivian will power its DC fast-charging network with renewable energy company RWE’s Champion Wind farm in Texas.
The two companies just signed a 15-year power purchase agreement (PPA) for electricity from RWE’s repowered Champion Wind in Nolan and Mitchell counties, west of Abilene.
The 127-megawatt (MW) Champion Wind is getting new turbine nacelles and blades, which will extend the wind farm’s lifespan. Originally commissioned in 2008, the wind farm is expected to be fully upgraded by mid-2025. When the wind farm is back online, it’ll be capable of generating enough electricity to power nearly 1 billion miles of renewable driving every year for Rivian, or the equivalent of powering 36,000 homes annually in Texas.
This wind power is set to support Rivian’s DC fast-charging Adventure Network with renewable energy. Rivian has set a specific goal to enable 7 billion miles of renewable driving.
Paul Frey, Rivian’s VP of propulsion, charging & adventure products, said, “Champion Wind is a powerful enabler for Rivian drivers to become active participants in building a cleaner grid every time they charge their vehicle. This project shows the potential to meaningfully decarbonize the grid and support a more circular economy through reuse and recovery of existing infrastructure, all while maintaining highly competitive economics.”
Siemens Gamesa is supplying 41 turbines with new nacelles and blades on existing towers. The nacelles and blades are being manufactured in the US. In addition, as part of the repowering project, six new Siemens Gamesa turbines rated at 3.1 MW each will also be added to the wind farm.
The decommissioned wind turbine blades from Champion will be repurposed. RWE is working with REGEN Fiber, an Iowa-based company that recycles wind turbine blades to make reinforcement fibers for the construction industry. Those fibers are then used in concrete to add strength and durability, extending the lifespan of infrastructure.
RWE is the third-largest renewable energy company in the US.
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Rivian is bringing back its “All-Electric upgrade offer” from now until November 30th, but with some changes to the program.
Earlier this year, Rivian offered $1k-$5k off a new Rivian if you trade in an old gas car, from April to June. The offer was available for specific vehicles, and with a sliding discount scale based on which Rivian vehicle you order.
Now the program has come back, but with quite a few changes from the previous version.
As of today, October 31, if you buy a new Rivian R1T or R1S new inventory vehicle from the R1 Shop, you can get a $3,000 discount if you also prove that you own or lease a qualifying gas-powered vehicle.
This is simultaneously simpler, more lenient, and more restrictive than the previous offer, in various ways.
First, the discount is a flat $3k (or $4,100 CAD), rather than having a scale based on what model you order, which is more streamlined.
Second, the discount applies to every gas or hybrid vehicle owner – you don’t have to trade in your vehicle, and you’re not limited to a specific list of vehicles. Just prove that you own or lease a gas car (copy of registration, proof of insurance, etc), and you get the discount.
However, third, it’s more restrictive as to what vehicles you can purchase. The current offer applies only to Rivian new inventory vehicles in the R1 Shop, and excludes demo vehicles, pre-owned vehicles, or custom build vehicles. It also does not apply to Rivian’s base Dual Standard models, but everything else is fair game.
In order to qualify, you need to place your order between today and November 30, and you must take delivery of the vehicle before December 31. Check out all the specifics of the offer on Rivian’s site here.
Electrek’s Take
Rivian is clearly trying to round out its yearly numbers with this offer, as the market for pricy cars is somewhat soft with increased interest rates. It just slightly lowered its annual delivery guidance, now planning to see roughly similar deliveries this year than last.
But its R1 vehicles just got a huge refresh to help the company with costs and to offer new features. The R1S is still one of the most popular high-priced vehicles in the US, and the company’s products earn universal acclaim from owners.
The interesting thing is that Rivian had a similar offer earlier this year, before the refresh, to help clear out inventory of older vehicles. It didn’t see it fit to offer the discount last quarter, perhaps buoyed by the updated model, but after a rough Q3 of deliveries it now brought the offer back.
Rivian is still guiding to reach a slight gross profit in Q4, though we’re sure we’ll hear more about that in its upcoming quarterly earnings next week.
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Hyundai’s new low-cost EV is getting a bold design upgrade. The Hyundai Casper EV Cross was spotted for the first time in public, revealing new design elements.
Although we knew a rugged “Cross” variant was headed to Europe, this was the first time the domestic model was spotted with an upgraded design.
The Inster EV is Hyundai’s overseas version of its domestic Casper Electric model. In Korea, Hyundai’s Casper EV starts at around $20,000 (27.4 million won). Hyundai said its new EV can be bought for under $8,000 (10 million won) with subsidies.
In Europe, it starts at under $27,000 (25,000 euros). The Cross variant is built for “those looking for an EV with a more adventurous look,” Hyundai said.
Although it offers the same versatility as the standard model, the Inster EV Cross gains rugged design elements, including new front and rear bumpers, black claddings, skid plates, a roof rack, and more.
Here’s our first look at the Hyundai Casper EV Cross
After a rugged new variant with the Casper EV logo was spotted in Korea for the first time, a Cross model is expected to debut shortly.
The new video from HealerTV reveals added design elements, including the roof rack and more aggressive black trim.
The reporter notes that the Hyundai Casper EV Cross has a “much more mechanical and futuristic feel than the existing model.”
It almost appears “robot-like” with an added off-road feel. The Inster EV Cross gets up to 223 mi (360 km) WLTP driving range. In Korea, the Casper Electric is rated with up to 195 miles (315 km) driving range.
Although Hyundai Casper (Inster) EV is not expected to launch in the US, the low-cost model was spotted driving in California for the first time this month.
In the meantime, off-road fans can get in line for Hyundai’s upgraded 2025 IONIQ 5, which will be available with a rugged XRT trim. The 2025 IONIQ 5 XRT model was also recently caught testing ahead of deliveries.
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