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.