Wednesday 4 December 2019

Sono Motors Launches Community Funding Campaign with Target of 50 Million Euros

Sion is an announced solar powered, full electric car, currently being developed by the German start-up Sono Motors. Its battery can be charged using the electric grid or its own solar cells.
According to a recent press release (Munich, December 2, 2019) – The German mobility provider Sono Motors launched one of the biggest community funding campaigns in Europe yesterday. The company’s campaign target is to generate 50 million euros between now and December 30, 2019, with preorders from existing and new supporters. The capital will then primarily be invested in production facilities for prototypes of the first solar electric vehicle (SEV): the Sion. This broad-based public campaign follows a strategic reorganization of the company’s finances. Long-term realization of the vision, an unreserved focus on the objectives of Sono Motors as well as the production and delivery of the Sion are to be safeguarded in ways other than with conventional financing rounds. The idea is for the follow-up financing to likewise be borne by the growing Sono Motors community, complemented by long-term investors who share and support the company’s value system and vision.
Youtube streaming

Full press release: Sono Motors (LINK)



The Sion was planned to be manufactured in Trollhättan, Sweden, in the old SAAB factory taken over by NEVs. However, the production start is now delayed according to Swedish media (Sveriges Radio, LINK) :
  • New positions for several hundred people in Trollhättan have been postponed, as the production of electric cars for a German company is delayed by one year. 
  • The plan was for the electric car company Nevs in Trollhättan to start building electric cars for German Sono Motors next year. But the German company has now had financial problems.
  • Sono Motors has now moved the production start by one year. This also means that Nevs postpones the plans to recruit hundreds of people.

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