The Munich-based mobility provider Sono Motors has successfully completed the extension of its campaign to finance the company and has exceeded its target of 50 million euros. With one of the largest community funding campaigns in Europe, an average of one million euros a day has been invested in the campaign over a period of 50 days, of which around 75 per cent come from reservation holders of their Sion EV, 19 per cent from existing and new investors and around six per cent from loans and donations. The Sion is the first production vehicle to bring together solar integration, mobility services and a bidirectional charging function. The seamless integration of solar cells into the vehicle’s surface makes this all-rounder independent of the charging infrastructure over short distances. Up to 5,800 kilometres of free and carbon-neutral range can be generated per year thanks to the integration of solar cells, thereby lowering the running costs of the car.
In December 2019, Sono Motors had announced a strategic reorganisation of the company’s finances to protect its values and technologies. Therefore, they gave the Sono Motors community the possibility to take the decision on whether to continue the "project Sion".
13,000 reservations
"53 million euros, invested by the centre of society, for the forward-looking and sustainable mobility concept of a start-up is a clear signal, also directed at politicians to make adjustments. Electric mobility and the support for young companies in Germany has to be pursued faster and more vigorously. We at Sono Motors now see it as our responsibility to live up to the trust placed in us by our supporters. Together with the community, we will continue on our path to bring the Sion into production as quickly as possible," says Laurin Hahn, CEO and co-founder of Sono Motors.
Here is an example of a similar idea:
A solar roof for a car.
The Sono Motors community will continue to play a key role in the further financing of the company, together with sustainable and value-based investors. The inflows from the now completed community funding campaign will be used to finance the construction of series prototypes and to set up production. Sono Motors plans to produce a total of 260,000 Sion over a period of eight years at the former Saab plant in Trollhättan, Sweden. The company currently has 13,000 reservations for the Sion. (mfo)
