Connect with us

Published

on

Less than a month after kicking off production of its flagship solar EV the 0, Lightyear has begun teasing images of its second, much more affordable model, the Lightyear 2. Following an announcement this morning, Lightyear has opened up its waitlist to pre-order the Lightyear 2, which will be sold in the US, UK, and Europe. It promises to deliver over 500 miles of range on a single charge with the help of our Sun and start at an MSRP below $40,000.

Lightyear is a Dutch solar EV company that we’ve been following for several years, due in part to its bold promises of extended range vehicles with sleek designs, but also at affordable pricing. The startup had long promised to deliver its Lightyear 0 to market, a solar electric sedan that inevitably arrived as the most aerodynamic production car ever made.

We got a chance it take the Lightyear 0 for a spin this past summer and were quite impressed with its design both inside and out. Lightyear began production of 946 planned units this past December at Valmet Automotive in Finland, forever solidifying its place in history as the first to bring a solar EV to market.

Although much of the public’s eye has been on the Lightyear 0 for the past four years, the company has been working behind the scenes to deliver its second model, the Lightyear 2. While its predecessor is a marvel to both the eyes and the spec sheet, it starts at an MSRP of $250,000 and has remained out of reach for most average and perhaps more affluent consumers.

Lightyear has been quite cognizant of this high price point and has urged fans of the company to “hold on.” As an encore to the Lightyear 0, the startup has been promising to deliver the Lightyear 2 in 2025, targeted around $30,000. Flush with new funding this past September, Lightyear relayed that it remained on track to deliver a consumer-friendly solar EV. Now that Lightyear 0 production is underway, it has turned its focus in bringing such a dream vehicle to reality.

I know what you’re thinking. Shaving over $200,000 off a vehicle design feels impossible, and in my multiple interactions with Lightyear co-founder and CEO Lex Hoefsloot this past year, I continued to pepper him with questions about the Lightyear 2 and its extremely alluring affordability, curious how they’ll be able to pull it off. Here’s what he told me in Finland this past December:

I think people will be amazed actually, by what is possible in high volume, because of course, the question we get the most, for good reason is “how the hell guys, do you get it from 250K (euros) to 30K?” What people underestimate about Lightyear 0 is that we focused so much on picking the technologies that are fundamentally scalable. That’s also puzzling to people why we can do it, but we’re really confident we can get to that price point.

Following today’s news, the Lightyear 2 should arrive at a bit higher price than originally promised, but if and when it joins the Lightyear 0 on roads, it has the makings to be a slam dunk in value. Check out some of the first images shared this morning.

  • Lightyear 2
  • Lightyear 2

Join the waitlist for the $40k Lightyear 2 now

According to a press release from Lightyear early this morning, the official waitlist for the Lightyear 2 is now open on the company website. By joining the waitlist, customers in the US, UK, and EU can remain in the know for updates surrounding the Lightyear 2, including being the first to submit an official pre-order.

Hoefsloot again spoke to the company’s next big step in bringing solar EVs to the masses, soon in markets around the globe:

Lightyear 2 will fast track our mission of delivering clean mobility to everyone, everywhere. This is the first EV that allows consumers to prioritize sustainability, without compromising on practicality. By harnessing the power of the sun, Lightyear 2 elevates the electric driving experience and reduces reliance on strained electricity grids. In fact, while Lightyear 2 vehicles require less charging from the electricity grid than a conventional EV, they also flip the script by providing clean energy back into the grid.

While the company is not sharing many details of the Lightyear 2’s performance just yet, it is promising to deliver over 500 miles (800 km) of range on a single charge, combining its battery power with the free daily energy from the Sun. As you can see in the images above, it fits the same design profile as the Lightyear 0, but in a more compact shape. Still it offers seating for five and the ground clearance of an SUV.

Despite this lack of details available to the public, the company says it already has 21,000 pre-orders of Lightyear 2 from international leasing and ride sharing partners like LeasePlan, MyWheels, Arval and Athlon. According to a spokesperson for the company, the planned mass market volume of Lightyear 2 production should provide enough for both the commercial partners and consumers alike, so those 21k reservations shouldn’t affect customers who pre-order their own personal SEV.

Lightyear is promising an update on its production partner alongside an overall production update. It is also promising to share a full design reveal this coming summer. You can join the Lightyear 2 waitlist here.

Electrek’s Take

If this solar EV makes it to market, I’m in. While there are certainly less expensive EVs available on the market today, $40,000 is definitely a tough price point to get beneath and still sits as a relatively affordable number compared to other models.

This is especially true when you factor in the 500+ mile range and the capability to garner free miles from a ball of gas in the sky. Given that the Lightyear 2 is now being advertised around $40k instead of the originally promised price about $10k less, its clear that Lightyear has a better idea of its final design and supply chain and has faced reality. Even at a higher price, I think under $40k will be quite enticing to consumers, as long as it can stay around that number when production begins in 2025.

One of the things that impressed me most in talking to the team in Spain this past summer with the Lightyear 0 is the technology itself. Lightyear developed much of the tech including solar panels and motors in-house, and now that they’ve mastered it within the 0, they told me they are quite confident that they can scale it efficiently with the Lightyear 2. We as consumers should benefit.

It’s also exciting to see this model coming to the US, setting the stage for a head-to-head battle with California-based solar EV company Aptera. Both companies have been publicly supportive of one another for the good of solar EV adoption, and its exciting to day dream about the possibility of two, long-range range solar EVs becoming available to US consumers.

In visiting the Lightyear 0 assembly line at Valmet Automotive last month, it’s clear that Lightyear will need to significantly ramp up its footprint to support mass production. Whether that means more lines at Valmet or a second production partner is unclear, but the Lightyear is promising a production partner update in the near future.

Trust that I will keep you in the know, and as soon I can get in or near the Lightyear 2, you’ll be the first to see it. Until then.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Tesla hires celebrity ambassador despite Elon Musk saying they don’t pay for endorsements

Published

on

By

Tesla hires celebrity ambassador despite Elon Musk saying they don't pay for endorsements

Tesla has hired a celebrity ambassador, a departure from Elon Musk’s policy of not paying for celebrity endorsements.

Musk has often bragged about the fact that Tesla doesn’t pay for celebrity endorsements in contrast to other automakers who hire celebrity brand ambassadors to promote their cars.

Much like advertising, Musk seems to be abandoning this strategy.

Tesla announced that it hired Olympic shooter Kim Ye-ji, whose performance at the Paris Olympics this summer went viral, to be the automaker’s brand ambassador in Korea.

Kim said about her new partnership with Tesla:

I’m very excited to work with Tesla, who have recognized me. I hope to convey a positive message together with Tesla.”

Here are a few pictures released to announce her new partnership with Tesla:

Kim’s agency said that her relationship with Tesla started from CEO Elon Musk tweeting about her viral performance at the Olympics:

“The relationship between Kim Ye-ji and Tesla developed after Elon Musk mentioned her. The company said that Kim is Tesla Korea’s first brand ambassador.”

She is not only Tesla Korea’s first ambassador, but she is the first known paid celebrity ambassador for Tesla globally.

The policy change is not entirely surprising since the policy of Musk not paying celebrities to endorse Tesla’s products was often attached to the automaker’s strategy not to advertise.

Musk went as far as to say that he “hates advertising,” and Tesla started advertising last year.

The change in strategy coincidently, or not, came after Musk bought Twitter, a company relying on advertising, and Tesla even started to advertise on Twitter, now called X.

Tesla sales in Korea haven’t been amazing, but the country’s auto market greatly favors domestic brands. The American automaker does fairly well for a foreign brand with the Model Y becoming the best-selling imported vehicle in Korea during the first half of 2024.

Although, it amounted to just over 10,000 units.

Electrek’s Take

It’s a change of strategy, and Elon certainly can’t claim that Tesla doesn’t pay for celebrities to endorse its products, but it is probably a smart move due to the fact that Koreans prefer domestic brands.

Kim could help create a deeper level of attachment to the Tesla brand, but I don’t really know. I’m just speculating.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Kia smashes US sales record again in October with surging demand for EVs

Published

on

By

Kia smashes US sales record again in October with surging demand for EVs

Kia just broke its October sales record as its impressive US sales run continues. After another record-breaking month, Kia said the growth is fueled by “strong demand” for its electric vehicles.

Kia sets new October sales record in the US

Kia sold 69,908 vehicles in the US last month, up 16% from its previous October sales record in 2023.

According to Kia, higher demand for its electric models is charging up sales in the US. Kia’s electrified sales (EVs, PHEVs, and HEVs) reached its highest ever in October.

All-electric vehicles (EVs) led the way, with sales surging 70% year-over-year (YOY). Plug-in hybrid (PHEV) and hybrid (HEV) sales were up 65% and 49%, respectively, from October 2023.

Kia’s first dedicated electric model, the EV6, set a new October sales record with 1,941 units sold. Through the first ten months of 2024, Kia has now sold over 17,700 EV6 models in the US. Meanwhile, its first three-row electric SUV, the EV9, continues to defy expectations.

With another 1,941 models sold last month, Kia EV9 sales reached 17,911 through October. That’s even more than the EV6 despite costing +$12,000 more.

Kia-sales-record-October
2024 Kia EV9 GT-Line (Source: Kia)

Kia’s first US-made EV9 rolled out of its West Point, GA plant this summer. Although the EV9 is expected to qualify for the full $7,500 federal tax credit next year, Kia is matching it for now through incentives.

Next year, we will also finally see the EV9 GT, which Kia promises will have “enormous power.” Ahead of its official debut, we got our first look at the sporty electric SUV with an active spoiler last month.

2025 Kia EV9 Trim Starting Price*
Light Standard Range $54,900
Light Long Range $59,900
Wind $63,900
Land $69,900
GT-Line $73,900
2025 Kia EV9 price by trim (*excluding $1,325 destination fee)

Earlier this month, we learned that the 2025 EV9 will start at $54,900 (not including the destination fee), which is only $700 more than the 2024 model.

With prices dropping to potentially under $50,000, Kia’s three-row electric SUV is a steal. If you’re ready to experience the EV9 for yourself, we can help you get started. You can use our links below to view deals on Kia’s electric vehicles in your area.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Exxon CEO on U.S. election: ‘Not sure how drill, baby, drill translates into policy’

Published

on

By

Exxon CEO on U.S. election: 'Not sure how drill, baby, drill translates into policy'

Exxon Mobil CEO Darren Woods on Q3 results: Company transformation is beginning to manifest itself

The outcome of the U.S. presidential election on Nov. 5 won’t affect oil production levels in the short- to medium term, Exxon CEO Darren Woods told CNBC on Friday.

Former President Donald Trump has called for unconstrained oil and gas production to lower energy prices and fight inflation, boiling his energy policy down to three words on the campaign trail: “Drill, baby, drill.”

“I’m not sure how drill, baby, drill translates into policy,” Woods told CNBC’s “Squawk Box” Friday after the largest U.S. oil and gas company reported third-quarter results.

Woods said U.S. shale production does not face constraints from “external restrictions.” The U.S. has produced record amounts of oil and gas during the Biden administration.

Over the past six years, the U.S. has produced more crude oil than any other nation in history, including Saudi Arabia and Russia, according to the Energy Information Administration.

Output in the U.S. is driven by the oil and gas industry deploying technology and investment to generate shareholder returns based on the break-even cost of production, the CEO said.

“Certainly we wouldn’t see a change based on a political change but more on an economic environment,” Woods said. “I don’t think there’s anybody out there that’s developing a business strategy to respond to a political agenda,” he said.

While shale production has not faced constraints on developing new acreage, there are resources in areas like the Gulf of Mexico that have not opened up due to federal permitting, the CEO said.

“That could, for the longer term, open up potential sources of supply,” Wood said. In the short- to medium term, however, unconventional shale resources are available and it’s just a matter of developing them based on market dynamics, he said.

Stock Chart IconStock chart icon

hide content

Exxon Mobil shares in 2024.

The vast majority of shale resources in the U.S. are on private land and regulated at the state level, according to an August note from Morgan Stanley. About 25% of oil and 10% of natural gas is produced on federal land and waters subject to permitting, according to Morgan Stanley.

Vice President Kamala Harris opposed fracking during her bid for the 2020 Democratic presidential nomination. She has since reversed that position in an effort to shore up support in the crucial swing state of Pennsylvania, where the natural gas industry is important for the state’s economy.

Don’t miss these energy insights from CNBC PRO:

Continue Reading

Trending