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Helmond-based Lightyear, a manufacturer of solar-powered cars, is in talks with South Korean enterprise Sunbo for a potential investment of €3.5M.
The development comes after both entities signed a letter of intent on June 28, marking a pivotal step in their potential collaboration.
The Dutch company would likely be procuring components from Sunbo, which has partnerships with the likes of Hyundai.
Despite this promising step, the final agreement has not been reached yet as discussions with several potential investors are still ongoing.