Sono Motors says it will have to stop developing the Sion solar car without extra money
Sono Motors says it is short of money and may have to discontinue the development of the Sion solar car. That is why the company has started a campaign that hopes to get thousands of deposits for the Sion in order to start production anyway.
The company is now building pre-production models of the Sion to make the electric car suitable for public roads, but says he needs extra money to complete development and put the car into production. Sono Motors says investors are reluctant to invest in the company due to the current conditions in the financial markets. In addition, the energy crisis and pandemic would also have had an impact on the viability of the company.
Sono Motors has therefore started a campaign in which the German company hopes that private individuals and companies will pay for 3500 solar cars in advance. The company says it has 21,000 reservations for that car. The solar car costs 29,900 euros; Sono Motors therefore hopes to raise around 100 million euros with the campaign. Customers can also choose to make a smaller down payment, donate, or lend the company money. Payments are only accepted if the campaign is successful, says Sono Motors.
If enough money is raised, Sono Motors expects to gain investor confidence and raise more money. In addition, the company says it will have enough cash to put the car into production in 2024 and to pay for the required equipment, among other things.
If the campaign fails, the company says it will have to stop developing Sion and focus on other solar energy products. For example, the company is working with bus manufacturers to install solar panels on the roofs of electric buses. The company would have enough money for this.
The Sion is an electric hatchback with hundreds of solar panels on the roof, hood and doors, among other things. According to Sono Motors, they could deliver an average range of 112 km per week. The car also has a 54 kWh battery with a range of 305 kilometers, supports bidirectional charging and can be charged to 80 percent within 35 minutes. Where other EV manufacturers such as Lightyear first focus on the expensive luxury models with more margin to finance cheaper cars, Sono Motors immediately focused on those cheaper cars.