Showing posts with label Sono Motors. Show all posts
Showing posts with label Sono Motors. Show all posts

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.
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Full press release: Sono Motors (LINK)