Lightyear has signed a letter of intent with Valmet Automotive Inc., one of the world's largest automakers. The Finnish contract producer will produce the Lightyear One series from the Dutch technology company. After a thorough and extensive selection process that took more than a year, Lightyear chose Valmet Automotive as its production partner. The automaker is an EV pioneer and has been involved in the development and production of electric vehicles for more than a decade.
The company has more than fifty years of experience with large and well-known car brands and in guiding start-up and scale-up companies to production. More than 1,7 million vehicles have left Valmet Automotive's production lines in Uusikaupunki, Finland, including Mercedes-Benz, Saab and Porsche. In addition, the company has its own battery production line and has recently invested heavily in additional engineering and testing capabilities for EV drive developments.
Lightyear recently reached a major technology milestone by driving 710 km on a single battery charge with the Lightyear One prototype. This validated Lightyear's long-haul performance and internally developed technology. In the coming months, the technology company will continue testing, further optimizing the car and completing the necessary homologation tests.
Lightyear is now preparing for the industrialization phase of the Lightyear One model. This model will go into production in the summer of 2022 as an exclusive first series. As a result of the partnership with Valmet Automotive, the first prototypes of the Lightyear One model will be built in Finland in January 2022, Lightyear said.