Maker Sion-auto wants to break free from investors with crowdfunding 50 million euros

Sono Motors wants to raise 50 million euros this year to secure the production of its Sion car with solar panels. The German start-up wants to break free from investors in this way and tries to raise the amount through crowdfunding.

Sono Motors wants to invest the amount of 50 million euros in production facilities where prototypes of the Sion can be made. The German company is starting the crowdfunding campaign because it does not want to go further with investors. According to the founders, they have no interest in the vision, and Sono Motors does not want to put its techniques up for sale.

The German start-up wants to collect the money from customers who have already placed a reservation, and from new customers. So far ten thousand people have reserved a Zion. If two thousand customers pay the full amount of 25,500 euros in advance, the company will have the necessary 50 million euros. It is possible to donate money, prepay part of a reservation, or personally invest in the company. At the time of writing, about 2.5 million euros has been pledged.

As Sono Motors changes its financing, the production schedule has also been adjusted. The company now expects to be able to produce the first copies of the Sion in September 2021. At the beginning of this year, the company said that production would start as early as 2019.

By raising money through crowdfunding, the company wants to implement a ‘strategic reorganization’ of its financing. This should safeguard the long-term vision and guarantee that the Sion can actually be produced and delivered. It is not clear what the company will do if the €50 million is not raised by December 30.

In March, Sono Motors presented the final design of the Sion. That is a solar electric vehicle, an electric car with a 35 kWh battery and 248 solar cells. The electric motor has 163 hp and a torque of 290 Nm. The maximum speed is 140 km/h.