After many years of work, the company is discontinuing the Sion programme with immediate effect, Sono Motors announces. "Despite more than 45,000 reservations and pre-orders for the Sion, we have been forced to respond to the ongoing instability in the financial markets and streamline our business. This decision was not easy for us," explains Laurin Hahn, co-founder and CEO of Sono Motors. As part of the decision, the company will lay off about 300 employees.
Now focus on B2B solar solutions
The company's solar solutions consist of power electronics and software are used by 23 business partners in Europe, Asia and the US, according to the company. The technology is being tested in a variety of vehicles, including cars from other OEMs, buses, refrigerated vehicles and RVs. Fleet operators can benefit from the integration of Sono solar technology by saving fuel, costs and CO2, and by contributing to the fight against climate change through this reduction in greenhouse gas emissions.
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The discontinuation of the Sion programme reflects the company's decision to focus on a less capital-intensive business model in light of the poor conditions on the capital market, according to Sono Motors. Around 90 per cent of the financing needs for 2023 were caused by the Sion programme.
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As the Sion programme was resource-intensive, the company is now implementing significant cost-saving measures. "Even though we had to discontinue our original heart project with the Sion programme, the shift of our entire focus to B2B solar solutions offers us the opportunity to continue developing innovative products in the solar industry," Hahn explains the decision.
Repayment of instalments for Sion reservations
For Sion reservations that were paid for before the #savesion campaign, the company has a repayment plan. This provides for repayment in several instalments plus a bonus over the next two years, starting with the first instalment in May 2023. Sono Motors will not collect the amounts of all payment commitments made under the #savesion campaign since 8 December 2022. (nhp/mfo)
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