Lightyear has signed a letter of intent with Valmet Automotive Inc., one of the world's largest car manufacturers. The Finnish contract producer will produce the Lightyear One series of 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 with 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 propulsion developments.
“Two years ago we announced our Lightyear One prototype. We are very pleased to now have a manufacturing partner with whom we will produce this exclusive model. Valmet Automotive is a great partner, with a proven track record and more than a decade of experience in the production of electric vehicles. Moreover, there is a good cultural match with our company. We are very proud that we will be producing the Lightyear One with Valmet Automotive."
"Our experience as a car manufacturer and our focus on electric mobility and battery systems make us the right partner for processes where mobility needs to be redefined. We are ready to explore new developments in the field of car manufacturing and are therefore pleased that Lightyear has selected us as production partner”.
Lightyear recently achieved an important technology milestone by driving 710 km on a battery charge with the Lightyear One prototype. This validated Lightyear's long-range performance and in-house 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 summer 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, according to Lightyear.
Also read: Lightyear One prototype car reaches a range of 710 km