Fundraising in the early days for Lightyear was a challenge as investors were reluctant to put their money into a new concept, Hoefsloot said.

“Right now, we are at a much more mature” stage, he said, adding that the majority of investment came from the Netherlands.

Lightyear secured $84 million from a Dutch-led group of investors in September.

The company, founded in the Netherlands in 2016, has also been developing Lightyear 2, its second high-volume model, with a starting price of about $30,000.

The Lightyear 2 is expected to go into production by 2025 and has reservations from leasing and car-sharing companies LeasePlan and MyWheels, according to the company.



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