Sono Motors – Press Releases

Promising restart: Sono Motors signs investor deal for its solar integration business, on its path to finalizing restructuring.

2023-11-27T15:15:00+01:00

Solar technology company Sono Motors is looking to the future with new funding commitments
Investor deal positions Sono Motors to obtain sufficient financing for business operations through at least the end of 2024
Vast majority of employees that were given notice at the end of October as part of the insolvency proceedings are back on board
Restart supported by a completely new management team of Sono Motors GmbH
Sono Motors expects to emerge stronger from insolvency proceedings and can now fully focus on realizing its vision of "solar on every vehicle"

Munich, 27 November 2023 – Sono Motors, the Munich-based solar technology company, announces today the signing of investment agreements with YA II PN, Ltd. (“Yorkville”), which are expected to enable the company to restructure itself, emerge from its self-administration proceedings that have been ongoing since May 2023 and continue its solar integration business. Pending the fulfillment of certain conditions precedent, this deal positions Sono Motors to obtain sufficient financing for its business operations until at least the end of 2024. The closing of the investment with Yorkville and conclusion of the insolvency proceeding are currently expected in late January 2024.

"The last few months have been exhausting for everyone at Sono Motors, but at the same time incredibly instructive. Now it's time to turn what we've learned into success. Our experienced team is eager to continue working toward our vision and has surpassed itself and grown even closer together over the last few months. We believe the agreement with Yorkville gives us the opportunity for a promising new start," says Jan Schiermeister, who currently serves as Sono Motors’ Head of Technology. The company's restart goes hand in hand with a complete restructuring of Sono Motors' management team – Mr. Schiermeister is among those currently designated as members of Sono Motors’ future management team, all of whom played key roles in shaping the company’s Mergers & Acquisitions process. Following the closing of the investment with Yorkville, the company looks forward to once again fully devoting itself to its mission of establishing itself and its proprietary solar solutions in the B2B segment.

Following the signing of the investor deal, Sono Motors has in recent days been able to offer all employees who were given notice at the end of October re-employment, which has already been accepted by the majority of the workforce. "I see this great willingness to return as a clear sign of an exceptionally high level of motivation and dedication. These employees are the backbone of Sono Motors and I strongly believe that together we can all emerge stronger from the expected conclusion of the self-administration proceedings," Mr. Schiermeister continued.

The first priority is now the market launch of the Solar Bus Kit, a solar retrofit solution specially developed by Sono Motors for diesel and electric buses to significantly reduce their CO2 emissions. In addition, Sono Motors will continue to drive forward the development and marketing of its unique solar integration technology, which can sustainably power a wide range of vehicle applications, such as refrigerated vehicles, last-mile delivery vans and passenger cars, and thus make a significant contribution to the climate and mobility transition.

Despite the ongoing self-administration proceedings, Sono Motors continued to establish new and strengthen existing customer relationships throughout 2023, and recently deepened its collaboration with one of the 10 largest vehicle manufacturers in the world by signing a new service agreement. Since March 2023, the total number of customers and partners for Sono Motors’ solar technology has increased from 25 to 28.

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. The words "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the intentions of Sono Motors GmbH and Sono Group N.V. (together, the “companies”) intentions, beliefs, or current expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and could cause the actual results, performance or achievements of the companies to differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and assumptions include, but are not limited to, risks, uncertainties and assumptions with respect to: our expectations regarding the companies’ self-administration proceedings, the outcome of which is uncertain; the companies’ ability to maintain relationships with creditors, suppliers, customers, employees and other third parties as a result of the self-administration proceedings and the related increased performance and credit risks associated with the companies’ constrained liquidity position and capital structure; the companies’ ability to successfully fulfill the conditions precedent to the closing so as to gain access to the funding offered in the current investor deal; Sono Group N.V.’s ability to maintain its stock exchange listing; and the length of time that Sono Group N.V. and Sono Motors GmbH continue to operate under the self-administration proceedings. Many of these risks and uncertainties relate to factors that are beyond the companies’ ability to control or estimate precisely, such as the actions of courts, regulatory authorities and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the companies assume no obligation to update any such forward-looking statements.

Sono Motors presents innovative solar solutions for sustainable bus transport at Busworld Europe 2023

2023-09-29T11:00:00+02:00

Sono Motors to exhibit at Busworld Europe 2023 in Brussels from October 7-12
The focus of the trade show is on the shift to electromobility and the reduction of CO2 emissions from bus traffic
Sono Motors will present the Solar Bus Kit, an innovative solar retrofit solution specifically for buses.

MUNICH, Germany, 29 September 2023 – Solar technology company Sono Motors will have its own booth at Busworld Europe for the first time. Busworld is the world's largest B2B trade fair and will be held in Brussels, Belgium from October 7 to 12. Sono Motors will present its latest developments in solar solutions for buses at the trade show at Stand 1163d in Hall 11. The focus will be on the Solar Bus Kit, Sono Motors’ complete and efficient solar retrofit solution for buses.

Busworld is considered the world's largest trade exhibition for buses and coaches. Due to the Corona-related break, this year's edition is the first in four years. The topics of sustainability and clean energy will also be in the spotlight at Busworld. Public transport in particular has to make great efforts in this area, not least due to legal requirements such as the European Union's Clean Vehicles Directive. Transport companies are faced with the task of switching from diesel buses to climate- and environmentally-friendly public transport with alternatively-powered buses. However, the transition is long and expensive: among new vehicles sold in 2022, around 70 % still run on conventional combustion engines.

The Solar Bus Kit from Sono Motors can serve as a bridging technology here. It consumes no diesel and produces no CO2 during operation. Bus roofs offer a lot of free space for use as a solar surface; the energy thus generated enables cost- and emission-reduced operation of the electrical systems and relieves the on-board power generator (alternator).

Sono Motors is also working on solutions for electric buses in addition to its Solar Bus Kit for diesel buses. For example, a customized version of the Solar Bus Kit with 14 semi-flexible solar modules was installed on an electrified Mercedes-Benz Citaro from the demo fleet of pepper motion, a specialist in the electrification of new and used vehicles.

In addition, to retrofit solutions, solar integration in the course of series production could be another answer to current industry challenges, such as the limited range and charging times of electric buses, as well as rising energy prices for electricity from the grid and diesel.

"As sustainability and clean energy become more of a focus, we want our solar solutions to make an important contribution to reducing CO2 emissions and increasing efficiency. With our Solar Bus Kit, we can demonstrate a simple and cost-effective way to sustainably reduce bus transport emissions. We are pleased to be able to present this solution to the interested trade fair audience," says Jona Christians, CEO and co-founder of Sono Motors.

Sono Group N.V. presents three new members of its Supervisory Board

2023-09-11T20:00:00+02:00

Three professionals with extensive business and corporate management experience have been appointed
Sandra Vogt-Sasse has been appointed Chair of the Supervisory Board. Thomas Wiedermann becomes Vice-Chair

MUNICH, Germany, 11 September 2023 – Solar technology company Sono Group N.V. (the "Company"), the parent company of Sono Motors GmbH ("Sono Motors"), today presented three new members of its Supervisory Board. The new Supervisory Board members have been appointed on an interim basis until their formal election at the Company's next annual general meeting. The four-member Supervisory Board consists of financial experts and an employee representative and is chaired by Sandra Vogt-Sasse, who is supported by Thomas Wiedermann as Vice-Chair. Martin Sabbione also joins the Supervisory Board as an additional new member. Johannes Trischler, an employee representative, has been a member of the Company's Supervisory Board since November 2021.

"Despite the current challenges, we are working tirelessly on our mission to equip every vehicle with solar. Our Supervisory Board, composed of experts in their respective fields, will support us with the extensive know-how of its members," said Jona Christians, CEO and co-founder of Sono Motors. "We have appointed experienced professionals with expertise in business and corporate management to the Supervisory Board."

The members of the Supervisory Board of Sono Group N.V. are:

Sandra Vogt-Sasse: self-employed tax consultant and auditor; Managing Director of SAVOSA GmbH Steuerberatungsgesellschaft; board member of a company closely linked to the capital market through its products and services
Martin Sabbione: Senior Head of Controlling of Volkswagen Group Charging GmbH; formerly CFO of Sono Motors GmbH and Head of Investment at WiWin GmbH & Co, KG
Thomas Wiedermann: CRO and CEO Production, Engineering, R&D, Processes at Rudolf Dankwardt GmbH; independent interim manager; board member/managing director of multiple international, medium-sized companies
Johannes Trischler: General Counsel of Sono Motors GmbH, employee representative

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. The words "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the company's intentions, beliefs, or current expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the company to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties, and assumptions include but are not limited to the risks, uncertainties, and assumptions with respect to: expectations regarding the self-administration proceedings, for which Sono Group N.V. and Sono Motors GmbH have applied, the outcome of which is uncertain; the company‘s ability to maintain relationships with lenders, suppliers, customers, employees and other third parties as a result of the applications for the opening of self-administration proceedings and the related increased performance and credit risks associated with the company‘s constrained liquidity position and capital structure; the company‘s ability to access the external funding required to successfully restructure its business; the ability to maintain Sono Group N.V.’s stock exchange listing; and the length of time that Sono Group N.V. and Sono Motors GmbH would operate under the self-administration proceedings. Many of these risks and uncertainties relate to factors that are beyond the company's ability to control or estimate precisely, such as the actions of courts, regulators, and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the Company assumes no obligation to update any such forward-looking statements.

Sono Group Receives Additional Staff Determination Letter from Nasdaq

2023-09-01T20:00:00+02:00

MUNICH, Germany, 1 September 2023 – On August 28, 2023, solar tech company Sono Group N.V. (NASDAQ: SEV) (the “Company”) received a staff determination letter (the “Letter”) from the staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) stating that on March 20, 2023, the Staff had notified the Company that the bid price of its listed securities had closed at less than $1 per share over the previous 30 consecutive business days, and, as a result, did not comply with Listing Rule 5450(a)(1). Therefore, in accordance with Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until September 18, 2023, to regain compliance with the Rule. The Letter goes on to state that for the past 12 consecutive trading days, the closing bid price of the Company’s common stock has been below $0.10 and that, accordingly, pursuant to Listing Rule 5810(c)(3)(A)(iii), this matter serves as an additional basis for delisting the Company’s securities from Nasdaq. In addition, the Letter refers to the resignation of four of five members of the Company’s supervisory board in April 2023, including all of its independent members, and states that the Company no longer meets the audit committee requirement for continued listing on Nasdaq set forth in Listing Rule 5605(c)(2) and that, as such, this matter further serves as an additional basis for delisting the Company’s securities from Nasdaq.

The Company had previously issued press releases and disclosed on Form 6-Ks its failure to meet requirements for the continued listing on Nasdaq as follows: (i) on March 22, 2023, the $1 per share minimum bid price requirement set forth in Listing Rule 5450(a)(1); (ii) on April 21, 2023, the audit committee requirement pursuant to Listing Rule 5605(c)(2)(A); and (iii) on May 8, 2023, the requirement of Listing Rule 5250(c)(1) to timely file the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2022 (the “2022 20-F”).

Furthermore, on July 18, 2023, the Company issued a press release and disclosed on Form 6-K the receipt of a written notice from Nasdaq on July 12, 2023 (the „Notice“) stating that the Staff had determined that the Company’s securities would be delisted from Nasdaq in accordance with Listing Rules 5101, 5110(b) and IM-5101-1 referencing, among other matters, the Company’s application to the insolvency court of Munich, Germany, to permit the opening of a self-administration proceeding with respect to the Company pursuant to Section 270 et seqq. of the German Insolvency Code. The application for self-administration proceedings was made and disclosed by the Company on May 15, 2023. The Notice further stated that trading of the Company’s common shares would be suspended at the opening of business on July 21, 2023, and a Form 25-NSE would be filed with the Securities and Exchange Commission (the “SEC”), which would remove the Company’s securities from listing and registration on Nasdaq. The Notice also stated that the Company’s failure to timely file its 2022 Form 20-F as required under Listing Rule 5250(c)(1) served as an additional and separate basis for delisting.

The Company has requested a hearing before the Nasdaq Hearings Panel to appeal the Staff’s delisting determination of July 12, 2023, and intends to present its views and planned measures to cure the deficiencies mentioned herein at its hearing with the Nasdaq Hearings Panel.

FORWARD-LOOKING STATEMENTS

Opening of the self-administration proceedings of Sono Motors GmbH

2023-09-01T15:00:00+02:00

The self-administration proceedings of Sono Motors GmbH were opened as planned on September 1, 2023
The business operations of Sono Motors GmbH will continue unchanged under the self-administration proceedings
Sono Motors GmbH is still in negotiations with several potential investors

MUNICH, Germany, 1 September 2023 – The self-administration proceedings of Sono Motors GmbH were opened by the Munich Local Court as planned on September 1, 2023. The court has appointed Mr. Ivo-Meinert Willrodt, attorney-at-law, of PLUTA Rechtsanwalts GmbH as custodian. Business operations will continue unchanged within the framework of the opened self-administration proceedings.

Sono Motors GmbH is still in negotiations with several potential investors who are interested in a long-term continuation of the company.

The company is being supported in the self-administration proceedings by Dentons' restructuring team led by the experienced restructuring experts Dr. Holger Ellers and Dirk Schoene.

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. The words "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the company's intentions, beliefs, or current expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties and assumptions include, but are not limited to the risks, uncertainties and assumptions with respect to: expectations regarding the self-administration proceedings, for which Sono Group N.V. and Sono Motors GmbH have applied, the outcome of which, if they are approved, is uncertain; the company‘s ability to maintain relationships with lenders, suppliers, customers, employees and other third parties as a result of the applications for the opening of self-administration proceedings and the related increased performance and credit risks associated with the company‘s constrained liquidity position and capital structure; the company‘s ability to access the external funding required to successfully restructure its business; the ability to maintain Sono Group N.V.’s stock exchange listing; and the length of time that Sono Group N.V. and Sono Motors GmbH would operate under the self-administration proceedings, if these are approved. Many of these risks and uncertainties relate to factors that are beyond the company's ability to control or estimate precisely, such as the actions of courts, regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the Company assumes no obligation to update any such forward-looking statements.

Pilot project launched: Sono Motors and ÖPNV-Service Hagen equip first vehicle of Bavarian HofBus GmbH with Solar Bus Kit

2023-07-27T15:00:00+02:00

Mercedes-Benz Citaro C2 equipped with 16 semi-flexible photovoltaic panels
Further weight reduction through first-time use of robust double-sided tape
Pilot project marks important step towards reducing CO2 emissions of local public transportation in Hof

MUNICH, Germany, 27th July 2023 – Last month the solar technology company Sono Motors launched an innovative pilot project in public transportation in Hof in the north-east of Bavaria. A bus operated by Stadtwerke Hof was equipped with an updated version of Sono Motors’ Solar Bus Kit, a solar retrofit solution for buses.

The installation was carried out for the first time together with ÖPNV-Service Hagen. The expertise of the company extends to the areas of cabling, repair, maintenance and services for local public transportation. The company has more than 15 years of experience as a service provider for local public transport and modernises around 4,000 commercial vehicles every year.

In Hof, a Mercedes-Benz Citaro C2 was equipped with 16 semi-flexible PV panels, the installed power of the modules in total is around 1.4 kWp. To install the modules on the roof of the bus, double-sided tape was used for the first time, with a total weight of only 50 kg for all materials used in the project. The solar power generated in this way is fed into the battery to support the conventional diesel engine and save CO2 emissions. The first HofBus bus with integrated solar bus kit from Sono Motors has been on the road in the city of Hof since it received road approval from the German Technical Inspection Agency (TÜV). To serve as a comparison, an identically constructed mild hybrid bus without a PV system is being simultaneously operated. These comparative figures will make it possible to optimally compare driving performance and energy consumption within a certain distance travelled.

Working together to make local public transportation emission-free

"We at Sono Motors are very pleased to partner with HofBus GmbH. We believe the installation of our Solar Bus Kit for the first time on a vehicle from the HofBus fleet will demonstrate what a quick, easy and cost-effective solution the Solar Bus Kit is for sustainable reduction of emissions from public transportation,” says Jona Christians, CEO and co-founder of Sono Motors.
"We are very excited about the results of the pilot project. We hope that it will serve as a model for other environmentally friendly mobility solutions," explained Stadtwerke Hof Managing Director Jean Petrahn. The project is part of Stadtwerke Hof's long-term strategy to promote the switch to electric mobility. The HofBus fleet is to be continuously converted to emission-free power trains in the coming years.

“We are proud to present our first project in cooperation with Sono Motors. We will continue to work with Sono Motors' customer service and logistics in order to maximise production capacity in Europe and offer fast, professional retrofitting and maintenance. We are looking forward to future projects," said Luca Bochhammer, Managing Director, ÖPNV Service.

Sono Group Receives Notice of Delisting from Nasdaq

2023-07-18T22:30:00+02:00

MUNICH, Germany, 18th July 2023 – On July 12, 2023, solar tech company Sono Group N.V. (NASDAQ: SEV) (“Sono Group” or the “Company”) received a notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) stating that the staff of the Listing Qualifications Department (the “Staff”) has determined that the Company’s securities will be delisted from Nasdaq in accordance with Listing Rules 5101, 5110(b) and IM-5101-1. The Notice further states that trading of the Company’s common shares will be suspended at the opening of business on July 21, 2023, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the “SEC”), which will remove the Company’s securities from listing and registration on Nasdaq. The Company has requested a hearing before the Nasdaq Hearings Panel to appeal the Staff’s determination.

The Staff’s determination was based on the following factors: the associated public interest concerns raised by the Company’s announcement that it had applied to the insolvency court of Munich, Germany, to permit the opening of a self-administration proceeding with respect to the Company pursuant to Section 270 et seqq. of the German Insolvency Code; concerns regarding the residual equity interest of the existing listed securities holders; and concerns about the Company’s ability to sustain compliance with all requirements for continued listing on Nasdaq.

The Notice further states that the Company’s failure to file its Form 20-F for the year ended December 31, 2022 (the “2022 20-F”), which was due on May 1, 2023, with the SEC and Nasdaq and resultant failure to comply with Nasdaq’s filing requirement as set forth under Listing Rule 5250(c)(1) serves as an additional and separate basis for delisting.

As previously disclosed in its Form 6-Ks filed with the SEC on March 22, 2023, April 21, 2023 and May 8, 2023, the Company currently does not meet the continued listing criteria set forth in Nasdaq Rules 5450(a)(1), 5605(c)(2)(A) and 5250(c)(1). On March 20, 2023, the Company received a letter from the Staff notifying the Company that the bid price of its common shares had closed below $1.00 per share for 30 consecutive business days and, accordingly, that the Company did not comply with Nasdaq Listing Rule 5450(a)(1). On April 21, 2023, the Company notified Nasdaq that, as a consequence of the resignation of four out of five members of the Company’s supervisory board, including all independent supervisory board members, the Company is no longer in compliance with Nasdaq Listing Rule 5605(c)(2)(A), which requires a listed company to have an audit committee composed of at least three members who each meet the criteria for independence set forth in Rule 10A-4(b)(1) under the Securities Exchange Act of 1934. On May 3, 2023, the Company received a notice from the Staff stating that because the Company has not yet filed its 2022 20-F, the Company is no longer in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic financial reports with the SEC.

This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.

FORWARD-LOOKING STATEMENTS

Innovative solar technology: Sono Motors and pepper motion win busplaner Innovation Award 2023

2023-07-17T11:00:00+02:00

Solar Bus Kit beat out competitors in the "air conditioning, heating and battery management" category
Decisive milestone in two-year test phase of the first E-bus with integrated Solar Bus Kit

MUNICH, Germany, 17th July 2023 – The solar tech company Sono Motors, together with pepper motion GmbH, specialist for the electrification of new and used vehicles, received the busplaner Innovation Award 2023 on 13 July. The well-known trade magazine busplaner honoured 57 innovative projects and solutions in the industry at a festive event and awarded winners in 15 categories. In the "Air conditioning, heating and battery management" group, pepper won first place together with Sono Motors for the innovative Solar Bus Kit. In November 2022, Sono Motors installed a customised version of the Solar Bus Kit with 14 semi-flexible solar modules on an electrified Mercedes-Benz Citaro from pepper's demo fleet as part of the partnership and thus started a two-year test phase. The innovative solar modules provide a peak value of 1.3 kWp for the bus's 24-volt system and thus enable the efficient use of solar energy. Receiving the busplaner Innovation Award is an important milestone in the ongoing test phase and underlines the driving role of both companies for electromobility.

Common vision of a world without fossil fuels
"We at Sono Motors are very pleased about the award and proud that our future-oriented solar solution convinced the expert jury. Solar technology on buses, whether electric or conventionally powered by fossil fuels, is an important component that can contribute to the decarbonisation of public transport. The cooperation with pepper motion shows that pioneering technologies and partnership-based commitment make a sustainable future possible," explains Jona Christians, CEO and co-founder of Sono Motors.
"At pepper, we have made it our goal to successfully advance the mobility revolution in our society. Sono Motors shares our vision of a world without fossil fuels and is an important partner in driving innovation forward. The Solar Bus Kit will make our electrification solution even more sustainable and together, with the help of our technologies, we can save significant amounts of CO2," says Andreas Hager, Managing Director of pepper motion GmbH.

ABOUT PEPPER MOTION GMBH

pepper – electrifying transportation!
Innovative solutions for used and new commercial vehicles. With its holistic approach from consulting and electrification to service, telematics, charging infrastructure or fleet management, the company designs quickly implementable, cost-efficient and flexible solution packages for the sustainable mobility transformation. By retrofitting existing commercial vehicles with the certified retrofit kits for buses and trucks, vehicles are given an environmentally friendly "second life" and thus enable the most sustainable form of mobility, both ecologically and economically, while making an active contribution to reducing emissions in transport and implementing the Clean Vehicles Directive.
Pepper is ISO 9001 certified and is the only supplier of conversion solutions to guarantee operational safety in accordance with international automotive industry standards such as ISO 26262 (functional safety), while an international partner network guarantees service and availability. pepper motion GmbH employs more than 100 people and has its headquarters in Denkendorf/Bavaria with offices in Garching near Munich and Paderborn.
The subsidiary pepper motion Austria GmbH, based in Vienna, is the software development centre of the pepper group. In France, Italy and Poland, pepper is represented by sales partners.

FORWARD-LOOKING STATEMENTS

Sono Motors GmbH filed for protective shield proceeding

2023-05-15T15:38:00+02:00

Restructuring of Sono Motors GmbH in the upcoming protective shield proceeding with the support of Dentons' restructuring experts
Business operations will continue within the framework of the protective shield proceeding

MUNICH, 15. May 2023 – On 15 May 2023, Sono Motors GmbH filed an application for a protective shield proceeding at the competent local court of Munich. Business operations will continue within the framework of the protective shield proceeding.

At the end of February 2023, Sono Motors had announced that it would restructure its business model and focus exclusively on retrofitting and integrating solar technology into vehicles of third parties and fleet operators going forward. At the same time, the company discontinued its Sion program with immediate effect and terminated around 250 employees. A repayment plan was developed to handle customer claims arising from the Sion reservations. The additional funding required for this was initially offered by a financier.

However, in connection with the insolvency of the Silicon Valley Bank and the distress sale of Credit Suisse to UBS, as well as the growing uncertainty in the capital markets associated with these events, this financing was not realized. Further talks with other potential financing partners were also unsuccessful so management was forced to apply for protective shield proceedings.

The purpose of the protective shield proceeding is to successfully restructure companies in an organized process. The protective shield proceeding is one of the modern instruments of German restructuring law to enable a company’s restructuring. An application for a protective shield proceeding may not be made, if a company is already illiquid, but rather only in case of impending illiquidity or over-indebtedness. The intended restructuring may also not manifestly lack the prospect of success and illiquidity should not be expected in the course of the protective shield proceeding.

In the current circumstances, the protective shield proceeding offers Sono Motors GmbH the necessary flexibility to sustainably restructure, recapitalize, and realign in the interest of its creditors, suppliers, customers, and employees. The company intends to implement the changed focus on retrofitting and integrating solar technology into third-party vehicles in the context of the protective shield proceeding. In this area, Sono Motors GmbH already has non-binding letters of intent and customer orders/contracts with a total of 25 partners.

The company's management is confident that there are good chances of successfully restructuring the company’s business under the protective shield proceeding. Jona Christians, co-founder and co-managing director of Sono Motors GmbH: "Detours are part of the founding process and we will continue to strive to implement sustainable solutions with our partners and to thus contribute to the decarbonization of the vehicle market."

In connection with the proceeding, the company is being supported by Dentons' restructuring team led by the experienced restructuring experts Dr. Holger Ellers and Dirk Schoene.

Dirk Schoene: "The focus on retrofitting and integrating solar technology into third-party vehicles is the logical next step. The company's innovative products in solar technology have the potential of being of great interest to OEMs. However, due to changed market conditions, it, unfortunately, became impossible to deal with the legacy costs from the discontinued Sion program using the company's own funds, so that the application for the protective shield proceeding became imperative to successfully continue the restructuring path already embarked upon."

Also on May 15, 2023, Sono Group N.V., the U.S.-listed parent company of Sono Motors GmbH, filed an application for self-administration at the competent local court of Munich seeking a corporate restructuring. Sono Group N.V. is being supported in its efforts by SGP Schneider Geiwitz and its restructuring experts Christian Plail and Matthias Räupke.

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. The words "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the company's intentions, beliefs, or current expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties and assumptions include, but are not limited to the risks, uncertainties and assumptions with respect to: expectations regarding the self-administration proceedings, for which Sono Group N.V. and Sono Motors GmbH have applied, the outcome of which, if they are approved, is uncertain; the company‘s ability to maintain relationships with lenders, suppliers, customers, employees and other third parties as a result of the applications for the opening of self-administration proceedings and the related increased performance and credit risks associated with the company‘s constrained liquidity position and capital structure; the company‘s ability to access the external funding required to successfully restructure its business; the ability to maintain Sono Group N.V.’s stock exchange listing; and the length of time that Sono Group N.V. and Sono Motors GmbH would operate under the self-administration proceedings, if these are approved. Many of these risks and uncertainties relate to factors that are beyond the company's ability to control or estimate precisely, such as the actions of courts, regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the Company assumes no obligation to update any such forward-looking statements.

Following Pivot Members of Sono Group N.V.’s Supervisory Board Resign

2023-04-21T22:45:00+02:00

On 24 February 2023 Sono Group N.V. Committed to Focus Exclusively on Solar Business for B2B Customers, And Terminated the Sion Passenger Car Program
Against This Background, Members of Its Supervisory Board Have Resigned

MUNICH, Germany, 21 April 2023 – On 24 February 2023, Sono Group N.V. (NASDAQ: SEV) (“Sono Motors” or the “Company”) announced its commitment to change its business model to focus exclusively on its solar business for B2B customers and to terminate the Sion passenger car program. This has led to a shift in the Company’s business model and operations away from its supervisory board members’ strong expertise in the areas of automotive, digitalization, and Community-focus. Against this background four members of the Company’s supervisory board, Chair Martina Buchhauser, Vice-Chair Robert Jeffe, Arnd Schwierholz, and Community Representative Sebastian Böttger, today, 21 April 2023, announced their resignation with immediate effect.

Jona Christians, co-founder and Co-CEO of Sono Motors: “Based on their experience, Martina, Robert, Arnd, and Sebastian have made an important contribution to our company. We are very grateful for the dedication they’ve shown to our mission in the past and wish them all the best for the future.”

Johannes Trischler, who was nominated to the supervisory board by Laurin Hahn, will continue to serve on the Company’s supervisory board and the supervisory board can thus continue to perform its duties.

The Company has commenced the process of finding suitable candidates to fill the vacancies on its supervisory board as promptly as reasonably practicable, taking into account the Company’s nomination arrangement pursuant to which the Company’s Co-CEOs and Co-Founders, Laurin Hahn and Jona Christians, acting individually, are each permitted to make a binding nomination for one supervisory board member. Once suitable candidates have been identified, the Company shall convene a general meeting of shareholders to appoint them.

As a consequence of the resignation of all members of the Company’s supervisory board except Johannes Trischler described above, the Company will not have any supervisory board committees until new candidates for the Company’s supervisory board have been identified and appointed.

FORWARD-LOOKING STATEMENTS

Sono Motors Announces It Has Signed With a Second Passenger Car Manufacturer

2023-03-08T15:00:00+01:00

Sono Motors Signs Purchase Order With a Second Automotive Passenger Car Manufacturer
Solar Technology Allows Convenience for Car Owners, Grid-Independent Charging, and a Reduction of Running Costs
Sono Motors Focuses on Retrofitting and Integrating Its Solar Technology Onto Third Party Vehicles in Four Core Industries: Passenger Vehicles, Buses, Refrigerated Vehicles, and Recreational Vehicles
Company Now Has Total of 25 Non-binding Letters of Intent, Purchase Orders or Customer Contracts

MUNICH, Germany, 8 March 2023 – The solar tech company Sono Group N.V. (NASDAQ: SEV) (“Sono Motors” or the “Company”) today announced it has signed a purchase order with a second passenger car manufacturer, one of the 10 largest in the world. The scope of the order is delivery of solar body panels for one vehicle, so that, together with Sono Motors, the OEM is able to explore solar integration into their cars. The Company announced the first order from a passenger car manufacturer in December last year. This brings the Company’s total number of customers and partners for its solar technology to 25, a significant increase from 10 partners at the time of the Company’s IPO 15 months ago.

The Company has developed solar power electronics for high-voltage automotive use cases, such as passenger cars. Sono Motors has specialized in a unique manufacturing method to seamlessly integrate solar cells into polymer to be used for the exterior of a passenger vehicle. Solar charging allows more convenience for the vehicle owner, less dependency on battery charging infrastructures and a reduction in running costs compared to ordinary BEVs. Car manufacturers and fleet operators may use the Company’s proprietary technology in their own products to retrofit existing vehicles, or for new production vehicles, to extend the range of BEVs or to comply with emission regulations.

“We see a whole industry moving towards solar integration into vehicles. We believe we are at the forefront with our proprietary polymer-based solar technology for passenger vehicles” states Laurin Hahn, co-founder and CEO of Sono Motors. “Additionally, we believe that the steep increase in electric vehicle sales and the relatively slower increase in charging stations will create a bottleneck for the adoption of electric vehicles on a larger scale. We believe that even within the next few years, many people living in apartments without private access to charging stations will be reluctant to buy electric vehicles due to uncertainty whether they will be able to find relevant charging options. This will put even more focus on electric vehicles with solar integration.”

Sono Motors is currently working as a development partner or supplier with customers in Europe and the United States. Customers include CHEREAU, Kögel, and Volkswagen subsidiary Scania. Going forward, Sono Motors intends to focus specifically on retrofitting and integrating its solar technology onto third party vehicles in four core industries – passenger vehicles, buses, refrigerated vehicles, and recreational vehicles. The Company is currently scaling up its technology, starting with the introduction of the next generation of its retrofit solution for cleaner public transportation — the ‘Solar Bus Kit’.

FORWARD LOOKING STATEMENT
This press release includes forward-looking statements. The words "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs, or current expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) the impact of the global COVID-19 pandemic on the global economy, our industry and markets as well as our business, (ii) risks related to our limited operating history, the rollout of our business and the timing of expected business milestones and risks related to future results of operation, (iii) risks related to required funding and our ability to continue as a going concern, (iv) risks related to our ability to monetize our solar technology, (v) risks related to the uncertainty of the projected financial information with respect to our business, (vi) potential cancellations of reservations, leading to significant cash-outflows, which may exceed our available liquid means and could require us to file for insolvency, (vii) the impact of the change in our strategy to focus on our solar business on our reputation, (viii) effects of competition on our future business and (ix) changes in regulatory requirements, governmental incentives and fuel and energy prices. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov and on our website at ir.sonomotors.com. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as the actions of regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

Sono Motors Commits to Focus Exclusively On Solar Tech Company, and Has Terminated the Sion Program

2023-02-24T13:40:00+01:00

Sono Motors Commits to Focus Exclusively on Solar Business for B2B Customers, And Has Terminated the Sion Passenger Car Program
Solar Technology Has Been Engineered to Enable Integration With a Wide Range of Vehicles, Including Buses and Trucks; Already Acquired 23 Customers To-Date
Solar Solutions, Including Hardware Such as Power Electronics and Software, Benefit Fleet Operators by Saving Fuel and Costs and Reducing CO2 Emissions
Sono Motors Recently Secured Funding From EU Commission Granted Project for its Solar Technology
Given the Capital-Light Nature of the B2B Solar Business, the Company’s Funding Needs Are Expected to Decrease Materially
Talks With Potential Investors to Focus on ‘Solar Only Business’
Termination of Sion Passenger Car Program Positions the Company to Implement Significant Cost Reduction Measures

MUNICH, Germany, 24 February 2023 – The solar mobility solutions provider Sono Group N.V. (NASDAQ: SEV) (“Sono Motors” or the “Company”) today announced that it decided to pivot its business model to exclusively retrofitting and integrating its solar technology onto third party vehicles, and to terminate its Sion passenger car program (‘Sion program’), effective today. The Company’s solar solutions, including hardware such as power electronics and software, are already in application today, with 23 B2B customers across Europe, Asia, and the United States piloting Sono Motors’ integrated solar technology on a variety of vehicles, including third-party OEM cars, buses, refrigerated vehicles, and recreational vehicles. Fleet operators can benefit from integrating Sono Motors’ technology to save fuel, costs, and CO2, thereby contributing to the fight against climate change through a reduction in greenhouse gas emissions. Termination of the Sion program reflects a decision to focus on a capital-light business model – an estimated 90% of the funding needs for 2023 were generated by the Sion program – in light of depressed capital market conditions. Given the resource-intensive nature of the Sion program, including personnel requirements, the Company is now implementing a significant cost reduction program.

“This pivot marks a significant step in Sono Motors’ business development," said Laurin Hahn, co-founder and CEO of Sono Motors. “Even though we had to terminate our original passion project, the Sion program, shifting our entire focus to business-to-business solar solutions provides us with an opportunity to continue to create innovative products in the solar space. It was a difficult decision and despite more than 45,000 reservations and pre-orders for the Sion, we were compelled to react to the ongoing financial market instability and streamline our business.“

Sono Motors is currently working as a development-partner and supplier with companies across ten countries in Europe, Asia, and the United States. Customers include Mitsubishi Europe, CHEREAU, and two Volkswagen subsidiaries – Scania and MAN Truck & Bus. Going forward, Sono Motors intends to focus specifically on buses and third-party OEM cars. The Company will now scale up its technology, starting with the introduction of the next generation of its mass-market-ready retrofit solution for cleaner public transportation — the ‘Solar Bus Kit’ — planned for the second quarter of 2023. Talks with potential investors will now exclusively focus on solar technology.

The potential of Sono Motors’ technology has been validated not only by the Company’s commercial partnerships, but also by the European Union. In January 2023, the Company secured €1.46 million in funding from the EU Commission’s European Climate, Infrastructure and Environment Executive Agency (‘CINEA’) to advance the development of the Company’s proprietary solar technology (‘SEAMLESS-PV’ project). Sono Motors has also announced that it now has 52 patents filed or granted, 42 of which are for the Company’s proprietary solar technology, a significant increase from 10 patents filed or granted at the time of the Company’s IPO in November 2021. The number of patents filed or granted include patents relating to the same invention filed in different jurisdictions.

The success of the Sion’s 18-vehicle series-validation program was, in the Company’s view, proof that the concept of a solar electric vehicle (SEV) works. Just before entering pre-series production, the Sion was on a trajectory to become a disruptor in the automotive solar technology industry. In terms of Sion reservations with deposits made before the #savesion campaign, the Company announced a payback plan to reimburse in various installments including a bonus over the next two years. Although Sono Motors has terminated the Sion program, the Company will continue to utilize patented technology developed in its ongoing integration and retrofit business. On top, Sono Motors intends to sell its Sion program.

In light of the Company’s decision to terminate the Sion program, the Company plans the redundancy of approximately 300 employees. In this context, Thomas Hausch has decided to step down from his role as COO but will support the Company’s transition. “Without Thomas' professional dedication and outstanding character our Sion program would have not made it this far. We are so thankful for his past and future championing of our mission", said Laurin Hahn.

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. The words "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs, or current expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) the impact of the global COVID-19 pandemic on the global economy, our industry and markets as well as our business, (ii) risks related to our limited operating history, the rollout of our business and the timing of expected business milestones and risks related to future results of operation, (iii) risks related to required funding and our ability to continue as a going concern, (iv) risks related to our ability to monetize our solar technology, (v) risks related to the uncertainty of the projected financial information with respect to our business, (vi) potential cancellations of reservations, leading to significant cash-outflows, which may exceed our available liquid means and could require us to file for insolvency, (vii) the impact of the pivot decision on our reputation, (viii) effects of competition on our future business and (ix) changes in regulatory requirements, governmental incentives and fuel and energy prices. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov and on our website at ir.sonomotors.com. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as the actions of regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

Sono Motors Demonstrates Solar Integration in Initial Sion Crash Test

2023-02-07T14:00:00+01:00

Test Program Continues to Meet Sono Motors’ Expectations Regarding Crash Safety of the Sion and Robustness of Proprietary Solar Integration
Solar Panels Behave as Predicted: No Splinter and Thus No Additional Risk to Passengers and Other Road Users, According to Initial Complete Vehicle Crash Test
Safety as a Standard: Every Sion Will be Equipped With Multiple ADAS Features at No Additional Cost
Future-Proof: Over-the-Air Update Is Planned to Deliver Adaptive Cruise Control Feature in the Future

Link to the crashtest video

MUNICH, Germany, 7 February 2023 – The affordable solar electric vehicle (SEV) Sion from Munich-based solar mobility solutions provider Sono Group N.V. (NASDAQ: SEV) (“Sono Motors” or the “Company”) successfully performed its first complete vehicle crash test. The result of the 50 km/h frontal crash test met the Company’s expectations regarding the Sion’s crash safety and the robustness of Sono Motors’ proprietary polymer-based vehicle-integrated solar technology, which covers the vehicle's entire body. The test was rolled out at its partner facility at CSI in Italy, a certified testing institution, with a Sion that was, including solar panels, painted green to ensure the vehicle is high contrast and therefore can enable more accurate evaluation.

In the initial, physical complete vehicle test simulating a heavy frontal crash, the integrated Sono Solar Technology did not splinter and thus did not cause danger to passengers and other road users. Until homologation, Sono Motors will conduct around 300 physical component, sled and complete vehicle tests in total to confirm the results of years of crash simulations. Based on the physical and simulated tests carried out to date, the Company expects the Sion to comply with all legal requirements for pedestrian and passenger safety. In addition to the legally required test program, the Company is undertaking additional EURO NCAP (European New Car Assessment Programme) crash tests, e.g. to increase the Sion’s crash safety for women and children.

Markus Volmer, CTO of Sono Motors, says: “after years of running successful crash simulations, we are very proud to see our solar technology delivering the same satisfying and high quality results in real life. We want our customers to be able to drive with the comfort of knowing that the solar technology in their Sion is not only charging the battery for free but also adheres to the highest safety standards”.

The Sion is a highly practical and family-friendly SEVe, which will fulfill high safety standards in other areas as well. The Company will equip every Sion with future-proof ADAS (advanced driver assistance systems) technologies at no additional cost. The ADAS features are proven solutions from technology company Continental and will be included as a standard in the Sion’s expected sales price of approximately €25,000 net. The functionalities include:

Forward collision warning
Automatic emergency braking
Lane departure warning
Lane keep assist
Attention assist
Traffic sign assist
Rear parking assist
Rear view camera

Sono Motors plans to add adaptive cruise control via an over-the-air update after the start of production. “We want to ensure maximum safety, comfort and efficiency for Sion customers. Thus, we have integrated some of the best ADAS technologies on the market and we retain the possibility of unlocking new software features over the air. By integrating state of the art technology, we plan to make the Sion competitive for its start of production and ready for the future”, says Markus Volmer, CTO of Sono Motors.

Durability tests, crash tests and solar tests have already started on 18 complete vehicles and further tests, such as winter tests in Sweden and ADAS validation, are planned within the first quarter of 2023.

NOTE
Reservations can only be made by persons located in 27 European jurisdictions. We do not accept reservations from persons located in any other country. We also do not accept reservations from U.S. persons. This document is for information purposes only.

FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements. The words "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs, or current expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) the impact of the global COVID-19 pandemic on the global economy, our industry and markets as well as our business, (ii) risks related to our limited operating history, the rollout of our business and the timing of expected business milestones including our ability to complete the engineering of our vehicles and start of production on time and budget and risks related to future results of operation, (iii) risks related to our unproven ability to develop and produce vehicles and with expected or advertised specifications including range, and risks relating to required funding, (iv) risks related to our ability to monetize our solar technology, (v) risks relating to the uncertainty of the projected financial information with respect to our business including the conversion of reservations into binding orders, (vi) effects of competition and the pace and depth of electric vehicle adoption generally and our vehicles in particular on our future business and (vii) changes in regulatory requirements, governmental incentives and fuel and energy prices. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov and on our website at ir.sonomotors.com. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as the actions of regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

Sono Motors Extends Campaign As Talks With Potential Investors Progress: The Future Is Worth Fighting For

2023-01-26T15:00:00+01:00

Campaign Is Extended For a Month Until 28 February 2023 As Talks with Potential Investors Progress
As of Today, More Than €47 Million Committed From Over 8,600 Community Members And Additional Sources
Europe-Wide Tour with More Than 5,000 Visitors - Sono Motors Announces 12 Additional Sion Tour Stops

MUNICH, Germany, 26 January 2023 – The Munich-based solar mobility solutions provider Sono Motors (subsidiary to Sono Group N.V.; NASDAQ: SEV) today announced the extension of its #savesion campaign as talks with potential investors progress.

“Our plan to send a clear signal to both the market and investors through growing reservations, payment commitments, and additional sources of almost €50 million seems to be working. We are in ongoing talks with potential investors and believe that the campaign’s extension positions us to reach our target of approximately €100 million and proceed with the Sion program. The engagement of thousands of Community members has proven the market demand for the Sion once again. The determination we feel from the thousands of calls, emails, and personal interactions with the Community, combined with the inquisitive feedback of numerous potential investors, empowers us to continue both the campaign and our fight for the Sion – our affordable, climate-friendly and unparalleled mobility solution,” says Laurin Hahn, co-founder and CEO of Sono Motors.

The ongoing #savesion campaign underscores the uniqueness of Sono Motors as a true community brand. As of today, Sion reservations, which total more than 44,000, include ~21,000 private reservations with deposit, over 1,500 new private reservations with deposit commitment made to date during the course of the campaign, and ~22,000 non-binding B2B pre-orders. These reservations and pre-orders are potentially equivalent to a net sales volume of about €1 billion, assuming that all result in sales. The more than 1,500 new private reservations for the Sion since the start of the campaign in December 2022 contribute to the biggest month-over-month increase in B2C reservations since the Company went public. The campaign began on 8 December 2022 and will now be prolonged for a month until 28 February 2023, in line with the framework of the terms and conditions.

Jona Christians, co-founder and CEO of Sono Motors, adds, “every single day invested in the future is worthwhile and that is why we made the decision to extend the campaign. We have already met more than 5,000 people in 13 different cities on our European-wide tour with thousands experiencing the Sion first hand in test drives and we just announced 12 additional stops to come. We owe it to these pioneers to not give up yet. We owe them more time to activate even more people eager to revolutionize mobility. It is up to all of us now to fight. Fight for the Sion, fight for the future and fight for a world without fossil fuels.”

Shortly prior to this announcement, Sono Motors secured €1.46 million in funding from the European Climate, Infrastructure and Environment Executive Agency (CINEA) to advance the development of the Company’s proprietary solar technology, further evidencing the Company’s in-depth technological expertise and knowledge.

During the campaign, the Company has also significantly progressed in the testing and series-validation program of the Sion. It is technologically on a fast track to start pre-series production, which is planned for the summer of 2023. Crash tests began in Italy this week.

NOTE
The above-mentioned CINEA funds will be strictly used only for SEAMLESS-PV project activities as agreed with the project partners and the European Commission and won't be used in any other activities.

Reservations can only be made by persons located in 27 European jurisdictions. We do not accept reservations from persons located in any other country. We also do not accept reservations from U.S. persons. This document is for information purposes only. This press release is not for publication or distribution, directly or indirectly, in or into the United States of America.

This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer and that will contain detailed information about the company and management, as well as financial statements.

Sono Motors Secures Funding From EU Commission Granted Project for Solar Technology

2023-01-23T15:00:00+01:00

Sono Motors Has Already Received €532,441 of €1.46 Million in Funding, the Remainder of Which Will Be Paid in Future Installments
The Company Will Provide Knowledge and Expertise to the ‘SEAMLESS-PV’ Project As Well As Application of Its Proprietary Technology Into Various Vehicle Architectures
Sono Motors Now Has a Total of 50 Patents Granted or Filed, 42 of Which Are for the Company’s Proprietary Solar Technology

MUNICH, Germany, 23 January 2023 – The Munich-based solar mobility solutions provider Sono Group N.V. (NASDAQ: SEV) (“Sono Motors” or the “Company”) secured €1.46 million in funding from the European Climate, Infrastructure and Environment Executive Agency (“CINEA”) to advance the development of the Company’s proprietary solar technology. The SEAMLESS-PV project was granted by the EU Commission and aims, over the course of four years, to develop automated photovoltaic (PV) manufacturing equipment, address the industrialization of novel manufacturing processes, and demonstrate the technology’s cost-efficiency and compliance with market requirements and standardization frameworks in various sectors. Sono Motors will provide its knowledge and expertise in the field of vehicle integrated photovoltaics (ViPV) via application of this technology into three different vehicle architectures.

Sono Motors received the first installment of €532,441 during its ongoing #savesion campaign. In the course of the campaign the Company has already received payment commitments from its Community and other sources worth approximately €45 m. This support is making it conceivable that Sono Motors achieves its target of about €100 m gross in new or increased reservation deposits, investments, or other sources of funding within the next few days. This sum is intended to cover a large part of the investments up to pre-series production of the solar electric vehicle Sion in 2023 and trigger a positive domino effect as the first step in a far-reaching financing strategy.

During the campaign, Sono Motors’ B2B solar business continues to generate revenue. As an independent part of the business model, Sono Motors’ proprietary solar technology is being integrated into vehicles from other manufacturers, such as buses, trailers, trucks, and camper vans. It provides power for a variety of vehicle systems, reducing CO2 emissions and fuel consumption. The Company has already acquired 23 partners such as Scania, CHEREAU, Rhenus Logistics, Mitsubishi Europe, and Munich’s public transport provider MVG.

Sono Motors also announces that it now has a total of 50 patents granted or filed, 42 of which are for the Company's proprietary solar technology. The strong growth in patents – up from 10 at the time of the Company’s IPO in November 2021 – helps to maintain Sono Motors’ position as a pioneering leader in the field of solar technology innovation. These patents partly relate to the same invention being filed in different jurisdictions.

NOTE
These funds will be strictly used only for SEAMLESS-PV project activities as agreed with the project partners and the European Commission and won't be used in any other activities.

Sono Motors Progresses Towards Pre-series With Solar EV and Reaches Over €40M Payment Commitments in Ongoing #savesion Campaign

2023-01-17T11:00:00+01:00

Over 44,000 Reservations for Sono Motors Sion, as of 16 January 2023
The Company Has Already Received Over €40m in Customer Commitments Within the Last Weeks
Ahead of Pre-series Production, Sono Motors Confirms Its Unique Technological Features Solar Charging and 3-Phase Bidirectional Charging in Real-Life Tests
International Testing and Series-Validation Program Is Progressing Quickly, Including Durability Testing in Spain, as Well as WLTP Drive Cycle Tests
First Production Trials With Series Tooling, Such as the Injection Molding for the Solar Body Panels, Have Commenced

MUNICH, Germany, 17 January 2023 – Solar mobility OEM Sono Motors (subsidiary to Sono Group N.V.; NASDAQ: SEV) is making great progress in the testing and series-validation program of its solar electric vehicle Sion, and is technologically on a fast track to pre-series production, which is planned in summer 2023. Over 8,000 people have already participated in the ongoing #savesion campaign, by either placing a new reservation for a Sion or increasing their deposit.

Over €40m in Customer Commitments Already Received During #savesion Campaign
As of today, the more than 44,000 Sion reservations include ~21,000 private reservations with deposit, ~22,000 non-binding B2B pre-orders and more than 1,000 new private reservations with deposit commitment made in the course of the #savesion campaign. The Company therefore has already received payment commitments from its Community worth over €40m, to decrease the funding gap until pre-series production. This support is making it conceivable that Sono Motors achieves its target of about €100m gross in new or increased reservation deposits, investments, or other sources of funding within the next few weeks.

“Several thousand supporters have already made this campaign one of the largest in Europe and are sending a clear signal that they want the Sion, an affordable alternative to bulky and expensive e-SUVs. Also, that a climate-friendly mobility revolution in Europe is both needed and wanted. At the same time, we believe the €40m sum in new reservations sends a strong message to investors and we have received positive feedback since announcing the campaign. We are in ongoing talks with potential investors and feel confident that we will reach the target and proceed with the Sion program. We need a final push, more thought leaders to stand up and fight for this revolution together,” says Laurin Hahn, CEO and co-founder of Sono Motors.

Durability Testing in Spain
Sono Motors’ affordable solar electric vehicle, Sion, recently completed handling and comfort suspension tuning and road load data acquisition, and is now undergoing durability testing in Spain. The Sion is being tested at the Applus IDIADA test track to complete the accelerated durability test cycle on the proving ground in various rough road conditions, equivalent to 150,000 km of customer usage. These tests will confirm the complete vehicle’s structural durability as part of the Sion’s extensive and uncompromising test program, currently involving 18 complete vehicles and several bodies-in-white in the U.S., Germany, Sweden, Italy, and Hungary. Watch the footage of the durability test in Spain here.

Solar Charging Under Real-Life Winter Conditions Confirmed
Beyond the durability testing, Sono Motors recently confirmed the Sion’s solar charging capability during a real-life test in December, the month with the least amount of daylight in Europe. The car reached a calculated 28 km of pure solar range per week. Therefore, the Sion was already able to achieve 80% of the expected winter solar yield about a year ahead of planned production. This test, undertaken using a series-validation vehicle, confirms the potential for an average of 5,800 km annual solar range in Europe, thanks to the unique integration of the solar modules into the entire body. More details of the winter solar charging test in this video.

3-Phase Bidirectional Charging Successfully Tested
Sono Motors successfully tested the vehicle-to-vehicle (V2V) charging technology using 3 phase at 13 amps with limited amperage during various test cycles. This resulted in a bidirectional charging output of 8 kW AC between a Sion and an unmodified series EV. By the start of production, the Sion is expected to be able to charge other devices with up to 11 kW AC. Watch the bidirectional charging testing video here.

Sion’s Efficiency Confirmed in First Series of WLTP Tests
Following so-called ‘coastdown’ testing in Spain, to validate the Sion's driving resistances and vehicle performance simulation models, the Sion drove a wide variety of drive cycles on test benches in Sweden and Germany, including WLTP tests. The car surpassed the WLTP range target of 305 km on a single battery charge of 54 kWh, overachieving the advertised vehicle range. Based on this performance, Sono Motors expects to confirm a modest range increase before the start of production, due to consequent improvement in the Sion’s efficiency. In addition, the car is expected to achieve about 112 km of emission and cost-free range on average per week through the power of the sun in Europe.

Production Trials With Series Tools Commenced
While the testing and validation program continues, Sono Motors and its partners have already finished building many component production tools for exterior and closures, as well as run initial production trials. These include the crucial injection molding tools for the solar panels and dozens of other series hard tooling. The Company plans to have the first Sion pre-series vehicles built using series tools at its production partner Valmet Automotive in Finland in the second half of 2023.

NOTES
Reservations can only be made by persons located in 27 European jurisdictions. We do not accept reservations from persons located in any other country. We also do not accept reservations from U.S. persons. This document is for information purposes only.

This press release is not for publication or distribution, directly or indirectly, in or into the United States of America. This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer and that will contain detailed information about the company and management, as well as financial statements.

Solar range calculations are based on WLTP range and the solar yield from the European market average, open field, and a typical meteorological year weather data.

1,000 Mark Reached: Sono Motors Makes Significant Progress Towards Achieving Its Goal of 3,500 Fully Paid Sion Reservations

2022-12-26T11:00:00+01:00

The #savesion Campaign of Munich Solar Mobility OEM Sono Motors Registered a Total of 1,000 Fully Paid Reservations for the Sion, the Company’s Solar Electric Vehicle
The 50-Day Campaign Was Launched on 8 December and Aims at Raising Approx. €100m Gross From Paid Reservations or Other Investments to Continue the Sion Program
Laurin Hahn, Co-founder and CEO: “Sion Development Program Is Well Advanced”
Winter Test With Series-Validation Vehicle Affirms Potential for 5,800 km Yearly Average Solar Range in Munich Due to Unique Integration of Solar Panels into the Entire Car Body
While the Campaign Is Running, the Sion Is on Tour in Germany, Austria, Switzerland, and the Netherlands

MUNICH, Germany, 26 December 2022 – Sono Motors (NASDAQ: SEV), the solar mobility OEM from Munich, announced on 24 December, that the company has received more than 1,000 full deposits for the solar electric vehicle Sion. The 50-day #savesion campaign was launched on 8 December and aims at raising approx. €100m gross from deposits, which equals 3,500 fully paid reservations for the Sion. The company will only withdraw the money from the crowd investors if it reaches the campaign goal. This sum is intended to cover a large part of the investments up to pre-series production of the Sion in 2023 and trigger a positive domino effect as the first step in a far-reaching financing strategy.

Laurin Hahn, co-founder and CEO of Sono Motors: "The milestone of 1,000 full deposits shows that it is worth fighting together for the Sion. Our solar electric car program is well advanced. In a solar winter test under real conditions in December, the month with the least daylight, we reached a calculated 28 km of pure solar range per week. This means that we were already able to achieve 80% of the expected winter solar yield about a year ahead of planned production. This test with a series-validation vehicle confirms the potential for an average of 5,800 km annual solar range in Munich, thanks to the unique integration of the solar modules into the entire body. In addition, bidirectional charging is functional. We were able to test our V2V charging technology with 3 phases at 13 amps with limited amperage during the first test cycles. This resulted in a bidirectional charging output of 8 kW AC between a Sion and an unmodified series EV. After the start of production, a planned OTA software update will enable the Sion to charge with up to 11 kW AC. At the same time, we are in an intensive testing phase with 13 vehicles for series validation and 32 body-in-white, including tests in the U.S., Spain, Sweden, Italy, Hungary and Germany."

Roughly two weeks ago, Sono Motors said that it would not continue the Sion program if the #savesion campaign failed. Instead, the company would focus on its B2B solar business, which requires less capital and has already started generating revenue. To date, Sono Motors has raised over €330 million via investors and financial instruments. However, due to the capital market decline in the recent past, it was not able to fully finance the remaining capital necessary until the planned start of production in the first quarter of 2024.

Strong Support From the Sono Motors Community – Almost No State Funding
“The successful start of the campaign fills us with pride and gives us the certainty that the demand for the Sion is great and our solar electric car is urgently needed as a partial solution to climate change and the energy crisis,” says Jona Christians, co-founder and CEO of Sono Motors. “We have received almost no state funding, so we will continue to focus on our Community and on the capital markets. We have raised over €330m in capital since 2016, which, by German standards, is a huge amount of money. Less than 0.5% of these funds were provided by the government. That is really sad and clearly shows that innovative solar technology remains a low priority for our government,” adds Christians.

Sion Test-Drive Tour in Four European Countries
In support of the #savesion campaign, the Sion is on a test-drive tour through 12 cities in Germany, Austria, Switzerland, and the Netherlands in December 2022 and January 2023. The next stops include Oberhausen, Germany, on 28 December 2022, and Frankfurt, Germany, on 4 January 2023. In addition, the Sion is on show at the Sono Motors’ Munich showroom, which is open seven days a week.

Decisive Year for Sono Motors

2022-12-21T15:30:00+01:00

First Annual General Meeting Held in Amsterdam, Netherlands
Substantial Increase in Solar Business; 23 International Partners in Total
More Than 42,500 Sion Reservations and Pre-Orders
240% Growth in Patents, 34 Granted or Filed in Total
Significant Growth Reflected in Financial Results
Appointment of Arnd Schwierholz As Member of the Supervisory Board of the Company

AMSTERDAM, Netherlands, 21 December 2022 – The solar-mobility OEM Sono Group N.V. (NASDAQ: SEV) (hereafter referred to as “Sono Motors” or the “Company”) today held its first annual general meeting (“AGM”) in Amsterdam, giving a brief overview of the business year 2022 and announcing the appointment of a Member to the Supervisory Board.

A Decisive Year for the Company
“2022 has been a decisive year for Sono Motors. Despite the economic and geopolitical challenges, we have grown tremendously in all business areas. We have made significant progress as a company, as a technology provider paving the way for solar on every vehicle. Strong growth - but also growth, which was driven and made possible only by our dedicated Community and their commitment to actually bringing the Sion onto the street,” states Laurin Hahn, CEO and co-founder of Sono Motors.

Important Progress in All Key Areas
Starting with ten B2B Solar partners in November 2021, Sono Motors was able to sign an additional 13 international partners during the past twelve months, thereby creating a robust and wide-spread network of 23 well-renowned companies, such as Rhenus, Chereau, Scania, a subsidiary of Volkswagen, and Mitsubishi Europe. This network of international partners is an important milestone in diversifying Sono Motors’ various business pillars and thus securing a more financially resilient standing for the entire Company.

One year has passed since the IPO in November 2021 and the Company now has achieved over 21,000 Sion B2C reservations and 22,000 B2B pre-orders. These numbers show an increase of 30% in the B2C segment and 40% in the B2B pre-order business.

The Company’s in-depth technology knowledge was proven by an additional 24 patents being filed or granted up to date (34 in total), ensuring Sono Motors’ position as a leader in the field of solar technology innovation. These patents partly relate to the same invention being filed in different jurisdictions.
Sono Motors as a company itself grew by 82% to a total number of 418 employees as of November 30, 2022, of which more than 70% are engineers. Diversity is one of the Company’s strengths. The 418 experts come from more than 45 countries, bringing in their valuable knowledge and different backgrounds.

Major Milestones Accomplished in 2022
At the beginning of the year, Sono Motors announced the signing of a binding term sheet with Valmet Automotive, regarding the collaboration and the production of the Sion. Valmet Automotive will provide the capacity to produce up to 257,000 vehicles over a seven-year period.

In July 2022 Sono Motors revealed the world’s first affordable solar electric vehicle (SEV), the Sion, in its production design, alongside its second stand-alone product, the ‘Solar Bus Kit’. This kit is a B2B retrofit solution that reduces fuel consumption and inner-city greenhouse gas emissions, thereby contributing to climate protection. The Company started intensive testing and validation of the Sion series-validation vehicles shortly after its presentation, including vehicle dynamics testing, advanced electric testing, crash testing, as well as driving on the German Autobahn and long endurance and solar testing in Spain.

Sono Motors was also able to further establish its position as a pioneering solar mobility provider when the Company was certified as an OEM by the Federal Motor Transport Authority (“KBA”) in July 2022 and achieved official incomplete type approval for the Sion (certified by KBA in July 2022). This partial type approval of the Sion was a major step in preparing the SEV for homologation and high volume production

Furthermore, the Company successfully expanded important partnerships with well-established companies such as Continental and Bosch, securing highest quality in product as well as after sales service to the customer.

Sion embarked on a tour of the U.S. in October, which was designed to demonstrate solar electric mobility and gauge interest for the Company’s potential future expansion into the U.S. market.

Significant Growth Reflected In Financial Results
Sono Motor’s revenue was six times higher in Q3 2022 than in Q2 2022, resulting in revenue of €138,000 in Q3 2022, generated by the two business pillars Sono Solar and Sono Digital. Sono Motors has raised over €330m capital since 2016 including paid reservations of ~€44m as of November 30, 2022. Current liquidity equals €55m as of November 20, 2022.
As part of its multistep funding strategy, Sono Motors launched a down-payment campaign for 3,500 Sion, called #saveSion in December 2022. The thereby gained funds will be invested in taking the Sion closer to pre-series. The campaign is currently expected to run for 50 days and is Sono Motors’ attempt to raise non-dilutive funding for the majority of the Sion capex program. “The community’s support enabled us to push the Sion program this far–too far to be shut down. We believe that even a small group of people with a joint idea can change the status quo and that ideas and innovations such as the Sion are needed in times like these,” Laurin Hahn explains. If the down-payment campaign does not go as expected, Sono Motors will focus on its proprietary and significantly less capital intensive Solar Technology business.

Appointment of Arnd Schwierholz As Member of the Supervisory Board of The Company
The Supervisory Board has made a binding nomination to appoint Arnd Schwierholz as
Member of the Supervisory Board of the Company from the date of the AGM for a period closing at the end of the Company shareholders’ annual general meeting to be held in 2026.
“In Arnd, we have found a proven and well-experienced expert to our Supervisory Board with strong expertise in the areas of mobility and finance. We are very pleased to have him on board as we further position Sono Motors as a pioneering leader in the field of solar mobility,” says Jona Christians, CEO and co-founder of Sono Motors.

Outlook 2024
“92% of our suppliers are nominated, 39 % of the machines for series production have been ordered. We are planning to set up pre-series shortly and prepare for series production in Finland, testing continues and the homologation is expected to take place; so the Sion is well on its way. Minor changes to the investment plans have resulted in a planned pre-series production in 2023 and planned SOP in the first quarter 2024. As for the solar business, one of the world’s top global passenger car OEMs signed a purchase order with us. So we believe the field of technology licensing holds a very promising new market for us. As a company we want to exploit the full potential of our technologies and thus vigorously move forward on our mission of solar on every vehicle”, Christians concludes.

Most important strategic decision in Sono Motor’s history: Community to decide about the future of the Sion, the solar-electric passenger car.

2022-12-08T14:00:00+01:00

MUNICH, Germany, 8 December 2022 – Jona Christians and Laurin Hahn, CEOs and co-founders of Sono Motors, make statement regarding the #saveSion campaign.

Sono Motors has achieved important operational and commercial milestones throughout the year. These include signing promising partnerships in our solar business and presenting our first Sion series-validation vehicles. At the same time, financial markets have experienced a negative downturn, with many tech companies losing up to 90+% of their respective market cap, and shares in mobility tech companies have been hit particularly hard. As a result, financing our Sion program through equity has become increasingly challenging and dilutive. Raising money takes much longer than expected, since we failed to explain to investors why the Sion has the potential to become the world’s first affordable solar-electric vehicle and that there is a huge demand for it.

One view in the investment community is that we should focus on our capital-light, revenue-generating solar business and abandon the Sion program. We understand the market situation and we could streamline our business for the long-term prosperity of our company.

But before making any decision to stop the Sion program, we want to give our Community – who amount to over 21,000 Sion reservation holders – a chance to keep the Sion program alive and partly solve our funding hurdle. We believe this is absolutely worthwhile, since 21,000 private reservations are the equivalent of approx. 465 million euro in potential revenue. Adding our roughly 22,000 B2B pre-orders worth almost 600 million euro in potential revenue, brings us to a potential order backlog of more than 1 billion euro as of today, assuming that all reservations and pre-orders result in sales.
You might well ask, ‘if there is such a strong demand, why wouldn’t you translate it into funding?’ You're right, and that’s exactly what we plan to do now!

So, we are starting a 50-day Sion reservation campaign for 3,500 Sion – called #saveSion. Early participants will receive a discount of up to 3,000 euro on their vehicle’s final price, and payments must only be made in the event the campaign is successful. On top of that, campaign supporters can receive a fixed vehicle waiting list number.

This would not be the first time that our Community plays an integral role in moving the Sion along on its path to production. But back in late 2019 when we did a crowdfunding campaign, the situation was completely different. The Sion was at a much earlier stage, the Sono Motors brand was significantly less established, and we had not yet built the solar B2B business pillar. That being said, we still collected more than 50 million euro in payment commitments in just 50 days from our Community across the globe.

Today, 23 companies worldwide are already piloting Sono Motors’ integrated solar technology on a variety of fleet vehicles such as buses, trailers, and electric transporters. And we have made so much other progress since our 2019 campaign: the Sion is in its final production design, vehicles from the series-validation fleet are up and running and undergoing testing, solar-charging can already deliver some of the calculated energy yield, the first bidirectional functions have been tested successfully, our sharing app is live in the app stores, the expected retail price has remained low at 25,000 euro net, and we have achieved an incomparably higher brand awareness. We are confident that we can do it again.

Because we received hardly any governmental support, we have to focus on our Community and the capital markets for funding. We raised over 330 million euro since 2016, and less than 1% of that came from the state.

To put that in perspective, it took us 5 years from the first concept car to prepare for pre-series – a timeframe similar to what established OEMs need to develop a new car. However, developing a car usually costs up to 1 billion euro. We’ve come close to pre-series with spending less than half of that money.
#saveSion is our non-dilutive solution for funding the majority of the Sion program and the first part of a broader funding strategy for the next 12 months, which includes of course the capital markets. We believe we will be able to continue to acquire more funding and continue to pay the remaining machinery, tooling, and production setup to achieve the planned pre-series production in 2023 and make it to SOP in the first quarter of 2024.

If we cannot complete the campaign, we intend to focus on our attractive solar B2B business, which is significantly less capital intensive. We believe our current and expected liquidity of $55 million and the resources we have on hand would enable us to successfully pivot to ‘solar only’. So this time it’s not about Sono Motors’ future, it’s about the future of the Sion. It’s about proving to the world that change is both needed and wanted.

#saveSion is about a movement. A strong Community that has a common belief. A belief that even a small group of people can change the status quo and immediately fight the climate crisis and prepare for the energy crises. There are pioneers out there who crave innovation – so let's do it. Let's take matters into our own hands and show politicians, investors, policymakers, and corporations what true action looks like. For a world without burning fossil fuels.

NOTE

Third Quarter 2022: Increase in Reservations and Multiple International Partnerships Signed

2022-12-08T13:30:00+01:00

Sono Motors’ Revenues Six Times Higher Compared to Q2 2022
21,000 Sion B2C Reservations And 22,000 B2B Pre-Orders, Reflecting In The Aggregate Approx. €1 Billion of Potential Revenues
Purchase Order Signed With One of the World’s Largest OEMs
US Tour Generates Broad Interest for Company’s Solar Electric Vehicle, Sion
Sono Motors Signs Bosch as Service Partner for SEV
Sono Motors Secures Additional Financing
Sono Motors Starts Special Community Campaign

MUNICH, Germany, 8 December 2022 – The solar-mobility OEM Sono Group N.V. (NASDAQ: SEV) (hereafter referred to as “Sono Motors” or the “Company”) today announced its business and financial results for the third quarter of 2022.

“We continued our strong growth in the third quarter of 2022 with revenues six times higher than in Q2 of this year,” as Laurin Hahn, CEO and co-founder of Sono Motors, commented. “We are excited to have achieved 21,000 Sion B2C reservations and 22,000 B2B pre-orders to date, reflecting potential net sales volumes of up to €1 billion, assuming that all reservations and pre-orders result in actual purchases. Importantly, 40% of our total reservations are private customers with an average down-payment of approximately €2,000, evidencing the enthusiasm and excitement our customers have for the Sion. We believe that these numbers demonstrate the continuously rising demand of a solar electric vehicle for the everyday commuter.”

Company Debuts Multiple World Premieres
Sono Motors displayed its complete range of technology and solutions for its three focus industries - buses, electric transporters and refrigerated vehicles - at IAA Transportation, a leading trade fair for the transportation industry. Sono Motors debuted four B2B customer projects, including CHEREAU, Kögel, Wingliner, and Mitsubishi Europe (MTTE).

The Company presented the Solar Bus Kit, a retrofit solution, optimized for the most common 12-meter public transport bus types on the European market, including the Mercedes-Benz Citaro and MAN Lion's City. Sono Motors’ new product underscores the move from prototype projects to a solution contributing to climate protection and the reduction of inner-city greenhouse gas emissions. Bus fleet operators stand to see a potential payback time of approximately 3-4 years, depending on days in operation and fuel prices. The kit was presented to the public for the first time alongside the world premiere of the Sion production design at the “Celebrate the Sun”-Event in July 2022 in Munich, with more than 1,500 guests on site and several thousand participants via livestream.

Solar Customer Base Continues to Increase on International Level
In the third quarter of 2022, the Company’s proprietary solar technology continued to benefit from significant interest, which led to a further increase in customer arrangements. Compared to the third quarter of 2021, the Company signed an additional four letters of intent and 12 purchase orders. Since the end of the third quarter of 2022, Sono Motors received 2 additional purchase orders, resulting in a total of 23 Sono Solar B2B Customer projects as of today.

In addition to the transportation industry customers mentioned above, one of the world’s top global passenger car OEMs signed a purchase order with Sono Motors during the third quarter of 2022. The scope of the order is for the delivery of solar body panels, so that together with Sono Motors, the OEM is able to explore solar integration into their high-volume vehicle production.

Testing and Validation Continues on the Sion Series-Validation Vehicle Fleet
The Company’s engineers have increased the testing and validation of the Sion series-validation vehicles. This extensive testing includes vehicle dynamics testing, advanced electric testing and crash testing, as well as driving on the German Autobahn. Additional testing is planned over the upcoming winter season, which will include endurance testing.

Third Quarter 2022 Financial Highlights

6x revenue growth in the third quarter of 2022 compared to the second quarter of 2022, resulting in revenue of €138k generated by Sono Solar and Sono Digital.
Cash and cash equivalents of €33.4m as of 30 September 2022. Current and expected liquidity equals €55m, including €25m of cash and cash equivalents as of 30 November 2022 as well as access to €30m net from a financing arrangement, which we signed with YA II PN, Ltd. (“Yorkville”) on 7 December 2022 (please refer to Recent Financial Developments section).
Net loss totaled €43.5 million and €0.50 loss per share in the third quarter of 2022 (third quarter of 2021: €18.0 million and €0.29).
Operational expenses increased mainly due to intensified prototype program and preparation for series-production.

Recent Developments
Sono Solar gained new customers in Scania, a subsidiary of Volkswagen, and LLT, a Swedish public transport authority, in a unique project to test the Solar Bus Kit in real-life conditions in the northern hemisphere. Another debut is the first electric bus, which the Company equipped with its solar technology. As part of the ongoing collaboration with pepper motion GmbH, Sono Motors equipped an electrified Mercedes-Benz Citaro from pepper’s demo fleet with a customized version of the Solar Bus Kit containing 14 semi-flexible solar modules to provide around 1.3 kW peak to the 24-volt system.

Sono Motors and Bosch Automotive Aftermarket Confirm Long-term Partnership

Subsequent to the third quarter of 2022, Sono Motors announced its partnerships with tier one automotive suppliers Bosch and Continental. Bosch Automotive Aftermarket has signed a Europe-wide long-term partnership with Sono Motors, with 50 Bosch Car Services to be initially trained and qualified for maintenance and repair of the Sion during the launch phase, with further European locales to follow during the subsequent rollout. Continental will also be equipping the Sion series-validation vehicles with advanced driver assistance system (ADAS).

Sono Motors Receiving Broad Interest for Its Solar EV in the U.S.
In October 2022, the Company presented a series validation version of the Sion to a U.S. audience for the first time on a tour that spanned the East and West Coast and covered six major cities. The tour was designed to demonstrate solar electric mobility with Sion, the Company’s solar electric vehicle, and gauge interest and enthusiasm for the Company’s potential future expansion into the U.S. market. Sono Motors visited New York, Boston, Detroit, San Francisco, San Jose, and Los Angeles to offer co-rides for hundreds of attendees, including Emmy and Oscar award-winning actress Whoopi Goldberg.

Recent Financial Developments
On 7 December 2022 the Company entered into a securities purchase agreement (“Securities Purchase Agreement”) with Yorkville under which the Company agreed to sell and issue to Yorkville convertible debentures (“Convertible Debentures”) in a gross aggregate principal amount of up to $31.1 million. The Convertible Debentures are convertible into ordinary shares of the Company. The sale of the Convertible Debentures and their conversion are subject to certain conditions and limitations set forth in the Securities Purchase Agreement and the Convertible Debentures.

Also on 7 December 2022, the Company announced it had entered into an at market issuance sales agreement (“ATM Sales Agreement”), with B. Riley Securities, Inc., Berenberg Capital Markets LLC and Cantor Fitzgerald & Co. (“agents”). The ATM Sales Agreement provides Sono Motors with the right to sell ordinary shares to the agents at the sole discretion of Sono Motors, subject to certain limitations and conditions. To register potential future sales under the ATM Sales Agreement, the Company filed a shelf registration statement on Form F-3 registering up to $135.0 million of shares that may be sold under ATM Sales Agreement. The issuance and sale, if any, of these shares is subject to the effectiveness of the registration statement. Sono Group N.V. will terminate the ordinary shares purchase agreement (Committed Equity Facility) with Joh. Berenberg, Gossler & Co. KG, entered into on 13 June 2022, once the ATM Sales Agreement is in place and effective.

As part of its multi-step funding strategy, Sono Motors is launching a down-payment campaign for 3,500 Sion, called #saveSion. The hereby gained capital will be invested in taking the Sion through pre-series. The Company will enable existing and potential new customers in 27 European countries to prove with their down payments that the Sion is the solution for them. The campaign will run for 50 days and is Sono Motors’ non-dilutive solution for funding the majority of the Sion capex program. If it does not go as expected, Sono Motors will focus on its proprietary Solar Technology business. This business pillar is significantly less capital intensive – the Company already has all the resources on hand to roll it out. More details regarding the #saveSion campaign will be released directly after the earnings call.

Outlook
Laurin Hahn, CEO and co-founder of Sono Motors: “We have achieved important operational and commercial milestones throughout the year. These include signing promising partnerships in our solar business and presenting our first Sion Series Validation Vehicles. At the same time, high inflation and rising interest rates as central banks seek to curb inflation have resulted in negative sentiment in the financial markets since our IPO, with many tech companies losing between 50% to 90+% of their respective market cap; shares in mobility tech companies have been particularly hard hit.

As a result, financing our capex program through equity has become challenging and highly dilutive for existing shareholders. Given this market backdrop, we are launching a special marketing campaign whereby we will give our customer community the chance to pre-pay the equivalent of 3,500 Sions. Assuming we achieve this goal, the down payments, together with other potentially available funding sources, would be expected to cover the majority of our investment program towards Sion Pre-Series Vehicles production.

In parallel, we have made minor changes to our investment plans that in turn have resulted in a planned pre-series production in 2023 and planned SOP in the first quarter 2024. We will also continue to carefully monitor all our operating expenses. As we are now close to our previously communicated year end 2022 headcount target and in light of the deteriorated capital markets environment, we implemented a hiring freeze from November 2022 onwards. In the interim, we expect to continue to sign new contracts, purchase orders and letters of intent for our proprietary solar technology, which we expect to result in significant revenue growth in the next few quarters.”

Conference Call Information
Sono Motors will host a webcast at 8.00 am Eastern Time (2.00 pm CEST) today, 8 December 2022 to discuss these results. The live audio webcast and supplementary information will be accessible via Sono Motors’ IR website at https://ir.sonomotors.com/. A recording of the webcast will also be subsequently available.

DISCLAIMER
The issuance and sale, if any, of ordinary shares by the Company under the ATM Sales Agreement is subject to the effectiveness of the Company's registration statement on Form F-3 (file number 333-268709), filed with the Securities and Exchange Commission on December 7, 2022, which includes a prospectus specifically relating to the offer and sale of ordinary shares by the Company under the ATM Sales Agreement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein, nor shall there be any offer, solicitation, or sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Sono Group N.V. to Raise $31.1 Million via Convertible Debentures

2022-12-08T12:30:00+01:00

Convertible Debentures Position Sono Group N.V. to Raise Some of the External Funding Needed Until Start of Production of the Sion, Sono Motors’ Solar Electric Vehicle (SEV).

MUNICH, Germany, 8 December 2022 – Sono Group N.V. (hereafter referred to as “Sono Motors” or the “Company”) (NASDAQ: SEV), the company that aims to revolutionize the future of solar-powered transport, today announced it has entered into a securities purchase agreement (“Securities Purchase Agreement”) with YA II PN, Ltd. (“Yorkville”) under which the Company agreed to sell and issue to Yorkville convertible debentures (“Convertible Debentures”) in a gross aggregate principal amount of up to $31.1 million. The Convertible Debentures are convertible into ordinary shares of the Company. The sale of the Convertible Debentures and their conversion are subject to certain conditions and limitations set forth in the Securities Purchase Agreement and the Convertible Debentures.

A registration statement on Form F-3 relating to the resale by Yorkville of the ordinary shares underlying the Convertible Debentures has been filed with the SEC but has not yet become effective.

This press release is for informational purposes only and it does not represent an offer to sell or the solicitation of an offer to buy any of the Company’s shares. There will be no sale of shares in any jurisdiction in which one would be unlawful.

Sono Motors Expands Cooperation With Continental for Development of Solar Electric Vehicle Sion

2022-11-21T10:00:00+01:00

The Sion Series-Validation Vehicles Are Being Equipped With Several Hardware and Software Solutions From Technology Company Continental.
Sono Motors to Integrate Continental’s ADAS system in the Sion Series-Validation Vehicles for the First Time.
In 2018 the Companies Started Their Cooperation by Working on an Electric Engine for the Sion, Among Other Components.

MUNICH, Germany, 21 November 2022 – Solar Mobility OEM Sono Motors (NASDAQ: SEV) expands its cooperation with the technology company Continental by equipping the Sion series-validation vehicles, the Company’s solar electric vehicle (SEV), with further proven technologies from the automotive supplier. Among other things, the companies will integrate an advanced driver assistance system (ADAS) from Continental in Sono Motors’ series-validation vehicles for the first time, as part of the expanded cooperation.

A future-proof ADAS feature is planned to be standard in every Sion, which is expected to retail for approximately €25,000 net. Prospectively, the ADAS will not only make driving the Sion safer and more comfortable, but will also ensure that the Sion complies with the upcoming stricter European Union road safety regulations (GSR). The cooperation enables Sono Motors to increase efficiency in its development of the Sion, which has the potential to become the world’s first affordable SEV, by using existing modern technologies. Sono Motors currently plans to start production of the Sion in the second half of 2023.

“We started our partnership with Continental in 2018 by working on parts like the electric engine, the software for the Sion’s vehicle control unit and airbag control unit. Extending our cooperation to other areas, such as ADAS and connectivity, not only helps us to make rapid and decisive progress in development, but also gives us confidence that we will provide technology of proven quality to our customers”, says Laurin Hahn, co-founder and CEO of Sono Motors.

A range of advanced technologies make the Sion safer and smarter
In close collaboration, Continental and Sono Motors have been developing the software for comfort control and climate control, as well as the energy, charge level and thermal management of the powertrain. Under the expanded cooperation, Continental will also provide intelligent connectivity features, like a passive access and smart entry system, which automatically recognizes an authenticated user approaching the car, opens the vehicle doors and starts the low voltage systems, alongside a start/stop button for Sono Motors’ series-validation vehicles. In the area of safety, the two companies are also integrating the Sion’s crash sensor. Engineers from both companies have already started an intense test program with the series-validation vehicles on the Continental proving ground in Frankfurt to further validate and improve the integrated technologies.

A renowned company with proven expertise
The Germany-based company Continental has over 150 years of experience and a proven track record in developing pioneering and quality technologies and services for the mobility industry. Continental generated sales of €33.8 billion in 2021 and currently employs more than 190,000 people in 58 countries and markets. “We are particularly committed to sustainable mobility solutions and are therefore delighted to be actively involved in a climate-friendly and exciting mobility project as a partner of Sono Motors”, says Christoph Falk-Gierlinger, Managing Director of Continental’s development and production service provider, Continental Engineering Services.

The Sion – an electric vehicle powered by the sun
The Sion is a spacious and family-friendly solar electric vehicle. Its outer shell will consist of 456 seamlessly integrated solar half-cells and will enable self-sufficiency on short journeys. The energy generated by the solar cells is expected to extend the estimated 305 km range of the Sion's 54 kWh LFP battery by an average of 112 km/70 mi (up to 245 km/152 mi) per week. Commuters in German metropolitan areas will have to charge their Sion up to four times less than conventional electric cars of the same vehicle class with a similar battery size. The battery will allow for a maximum charging capacity of up to 75 kW (DC) and 11 kW (AC).

ABOUT CONTINENTAL
Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation. In 2021, Continental generated sales of €33.8 billion and currently employs more than 190,000 people in 58 countries and markets. On October 8, 2021, the company celebrated its 150th anniversary.

ABOUT CONTINENTAL ENGINEERING SERVICES
Continental Engineering Services (CES) was founded in 2006, and as an agile and flexible engineering and production partner develops tailor-made, technologically sophisticated solutions for a wide range of applications, including automotive, railway engineering, aviation, shipping, mining and smart cities. 2,000 employees worldwide contribute their expertise and experience in the key technologies for automated driving, information management & connectivity, electrification and services in the field of multimodal mobility. This makes possible a new level of individual, safe and sustainable mobility.

Sono Motors and Pepper Debut Electric Bus With Solar Technology

2022-11-17T14:00:00+01:00

Sono Motors and Pepper Electric Bus With Solar Technology Makes On-Street Debut.
The Next Milestone Project for Sono Motors in its Mission of Solar on Every Vehicle as Well as a New Strategic Market Entry for Its B2B Business.
14 Semi-Flexible Solar Modules Provide Around 1.3 KW Peak to the 24-Volt System of an Electrified Mercedes-Benz Citaro.
Two-Year Test Phase Across Europe Has Been Kicked Off.

MUNICH, Germany, 17 November 2022 – Sono Motors, the Munich-based solar mobility OEM, and pepper motion GmbH debut the first electric bus with the Company’s solar technology on the streets. pepper is an international OEM for the electrification (repowering) of used and new vehicles. As part of the ongoing collaboration, Sono Motors equipped an electrified Mercedes-Benz Citaro from pepper’s demo fleet with a customized version of the Solar Bus Kit containing 14 semi-flexible solar modules to provide around 1.3 kW peak to the 24-volt system. The energy generated by this installation is expected to be 3.3 kWh/day on yearly average based on weather conditions in Munich.

The partnership with pepper is the next milestone project on the way to Sono Motors’ mission of solar on every vehicle, as well as a new strategic market entry for the Company’s B2B business. During the next two years, pepper clients across Europe will have the opportunity to participate in the test phase. “We believe in a future in which every vehicle is a solar electric vehicle. That's why we’re convinced that our first e-bus with solar technology is a great achievement for the future of public transport. Sono Motors and pepper aim to accelerate the transition towards zero-emission vehicles already today”, states Laurin Hahn, CEO, and co-founder of Sono Motors.

“We at pepper are passionately committed to driving successful mobility transformation in our society, thus Sono Motors is the ideal partner for us as we share the same vision of a world without fossil fuels”, says Andreas Hager, CEO of pepper.
The project with pepper is the first time Sono Motors has performed electrical integration within an e-bus. The solar charge controller, the MCU, developed in-house by Sono Motors, transfers the solar energy to the 24-volt battery where it is used as the primary source of energy. The e-bus’ DC/DC charger takes over energy supply when the solar energy supply is insufficient. This means the solar energy is not directly used for driving but rather powering the HVAC and other auxiliary systems. This way, the stress on the high voltage battery and DC/DC charger is reduced and could therefore lead to longer operating hours, fewer charging cycles and a reduced total cost of ownership.

ABOUT PEPPER
As the first digital OEM worldwide (without its own warehousing and manufacturing), pepper offers innovative solutions for the electrification (repowering) of used and new commercial vehicles. With its holistic approach to telematics, charging infrastructure, and fleet management, the company designs quickly implementable and cost-efficient solution packages for a sustainable mobility transformation.

By repowering existing commercial vehicles with certified retrofit kits for buses and trucks, vehicles are given an environmentally friendly "second life" and therefore enable the most sustainable form of mobility, both ecologically and economically, making an active contribution to reducing emissions in transport and implementing the Clean Vehicles Directive.

pepper is ISO 9001 certified and as such is the only supplier of conversion solutions to ensure operational safety according to international automotive industry standards such as ISO 26262 for functional safety. A network of international partners guarantees service and availability across Europe.

pepper motion GmbH with headquarters in Denkendorf and offices in Garching near Munich and Paderborn employs more than 100 people. The subsidiary pepper motion Austria GmbH, based in Vienna, is the pepper Group’s software development center. pepper is represented with further sales partners in Italy, France, and Poland.

Sono Motors and Bosch Automotive Aftermarket Confirm Long-term Europe-wide Partnership

2022-11-10T10:00:00+01:00

The Munich-based Solar Mobility OEM Sono Motors and the Long-Established German Company Bosch Will Collaborate for Servicing and Repairing the Sion Within the Framework of the Bosch Car Service Workshop Concept.
During the Launch Phase in Germany, 50 Bosch Car Services Will Be Trained and Qualified as Authorized Service Centers for the Sion, Sono Motors’ Solar Electric Vehicle. More European Countries Are to Follow in the Course of the Subsequent Rollout.
In Addition, Sono Motors Intends to Provide all of the Approx. 22,000 Independent Car Repair Shops in Germany with an Abridged Version of the Sion’s Factory Service Manual.

MUNICH, 10 November 2022 – Sono Motors (subsidiary to “Sono Group N.V.,” NASDAQ: SEV), the Munich-based solar mobility OEM, and the well-renowned German company Bosch have agreed to cooperate on a joint Europe-wide network of car repair shops. Within the framework of the Bosch Car Service workshop concept, all maintenance and repair services will be offered according to modern standards. Owners of the Sion, Sono Motor’s solar electric vehicle, will be able to use all services offered by participating car repair shops, including repair, servicing, maintenance, and warranty services. In other words, thanks to the Bosch Car Service network integration, Sion owners will be able to more easily find a competent repair shop partner in Europe. The overall 50 qualified Bosch Car Services to be trained in the launch phase will be distributed throughout Germany in such a way that both major cities and rural areas will be covered. Additional qualified service centers will be added in the subsequent rollout to create a comprehensive service network available in many European countries.

Highly Qualified Bosch Partner Workshops

The staff at Bosch partner workshops will receive comprehensive prior training from Sono Motors after which they will be authorized to perform repairs on high-voltage, photovoltaic, and safety systems with the assistance of, if necessary, Sono Motors Technical Field Service. All repair, warranty, and proactive services may only be performed by authorized partner workshops, which will be recognizable by a sign saying ‘Sono Motors Service Partner’ outside the car repair shops. To make it even easier to find the right repair shop, Sono Motors plans to provide a workshop finder on its website.

“We are proud of our strategic partnership with Bosch Car Service, a professional partner for all things automobile, which we believe demonstrates the reputation that we are gaining as an OEM. The Bosch brand represents top quality, and the workshop experts at Bosch Car Service perform their service and repair work according to modern standards. All of this makes Bosch a perfect partner for Sono Motors in order to offer our customers comprehensive, Europe-wide services,” says Laurin Hahn, CEO and co-founder of Sono Motors.  

“In Sono Motors we have found an innovative partner who is exploring the exciting field of solar electric mobility. The innovative technology and skills provided by Sono Motors to the Bosch Car Service network ensures that customers will receive reliable services for their vehicles. This further underlines the Electric Vehicle competence of Bosch Car Service and helps to win and retain also new customer groups.” says Thomas Winter, Vice President Workshop Concepts at Robert Bosch.

The cooperation between Sono Motors and Bosch includes comprehensive repair, service, and proactive service work. In addition, Sono Motors encourages all Sion owners to perform their own repairs whenever possible. “To us, the Sion is a symbol of independence. Of course you should take your car to a repair shop when there is a problem, but we want our customers to feel confident enough to perform minor repairs, such as replacing a light bulb or a wiper blade, themselves,” says Laurin Hahn. As an accompanying measure, Sono Motors plans to provide tutorials for certain DIY maintenance on its website.

ABOUT BOSCH AUTOMOTIVE AFTERMARKET
The Automotive Aftermarket division (AA) provides the aftermarket and repair shops worldwide with modern diagnostic and repair shop equipment and a wide range of spare parts – from new and exchange parts to repair solutions – for passenger cars and commercial vehicles. Its product portfolio includes products made as Bosch original equipment, products developed in-house and specifically manufactured for the aftermarket, as well as services. About 13,000 associates in more than 150 countries, as well as a global logistics network, ensure that spare parts reach customers quickly and on time. AA supplies testing and repair-shop technology, diagnostic software, service training, and information services. In addition, the division is responsible for the “Bosch Service” repair-shop franchise, one of the world’s largest independent chains of repair-shops, with some 15,000 workshops, and more than 1,000 “AutoCrew” partners.

FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements. The words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs, or current expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) the impact of the global COVID-19 pandemic on the global economy, our industry and markets as well as our business, (ii) risks related to our limited operating history, the rollout of our business and the timing of expected business milestones including our ability to complete the engineering of our vehicles and start of production on time and budget and risks related to future results of operation, (iii) risks related to our unproven ability to develop and produce vehicles and with expected or advertised specifications including range, and risks relating to required funding, (iv) risks related to our ability to monetize our solar technology, (v) risks relating to the uncertainty of the projected financial information with respect to our business including the conversion of reservations into binding orders, (vi) effects of competition and the pace and depth of electric vehicle adoption generally and our vehicles in particular on our future business and (vii) changes in regulatory requirements, governmental incentives and fuel and energy prices. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov and on our website at ir.sonomotors.com. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as the actions of regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

Sono Motors Debuts Affordable Solar Electric Vehicle, ‘Sion’, for First Time in the U.S.; Kicks Off Multi-City Solar Mobility Tour

2022-10-11T19:00:00+02:00

Sion, which Sono Motors believes will be the world’s first affordable solar electric vehicle (SEV) showcased at Times Square in New York, kicking off a three-week cross-country tour including stops in Boston, Detroit, San Francisco Bay Area, and Los Angeles
Sono Motors has received more than 42,000 reservations and pre-orders for Sion to date; Sion is expected to retail in Europe for approximately €25,000 ($25,000) with start of production planned for the second half of 2023
Integrated solar panels can extend Sion’s range and reduce charging frequency

NEW YORK, 11 October 2022 – Sono Motors (NASDAQ: SEV), the Munich, Germany-based company pioneering solar mobility, today kicked off its “Celebrate the Change” U.S. tour in New York City with the debut of its solar electric vehicle (SEV), Sion, at Times Square. Sono Motors believes that the 5-seater passenger vehicle, which is expected to retail in Europe for approximately €25,000 ($25,000), has the potential to become the world’s first affordable SEV. Start of production for the Sion is planned for the second half of 2023.

“With the impacts of climate change already being felt around the world, the need to decarbonize has never been more urgent. A world without fossil fuels demands cleaner transportation and our mission to add solar to every vehicle is the next logical step,” said Laurin Hahn, co-founder and CEO of Sono Motors. “Solar electric vehicles represent a new frontier in zero-emission mobility, enabling convenience, more range on a single charge, and greater independence from charging infrastructure. We are tremendously excited to bring Sion to the United States for the first time and to showcase our vision of the future of solar transportation.”

Sion will embark on a multi-city coast-to-coast tour, including planned stops with public viewing in:

New York City (October 11, NASDAQ MarketSite at Times Square; October 12, 1 Noble Street, Brooklyn)
Boston (October 14, High Street Place Food Hall)
Detroit (October 17, The Eastern)
San Francisco (October 24-25, location TBA)
San Jose (October 26, by invitation only)
Los Angeles (October 27-28, Tuxedo LA)

“The U.S. continues to be an exciting market for us and in addition to our plans to begin delivering Sion to the European market next year, we are actively evaluating American partnership opportunities while expanding our portfolio of integrated solar solutions for fleet operators. Our solar solutions are intended to enable trucks, buses, trailers, and other commercial vehicles to harness the power of the sun to reduce fossil fuel usage and costs without compromising on range — or anything else. Companies across Europe and the United States are already using or piloting our licensable technology on their fleet vehicles and we’re eager to help even more American fleet operators,” Hahn added.

To learn more about Sono Motors’ tour in the United States, please visit sonomotors.com/en/celebrate-the-change

Sono Motors: Harnessing the power of the sun

Since its founding in Munich, Germany in 2016, Sono Motors has become a pioneer in solar-powered transportation. Its development of Sion, which has the potential to become the world’s first affordable SEV, coupled with Sono Motors’ portfolio of integrated solar technologies, empower everyday commuters as well as businesses to harness the power of the sun for mobility.

The outer shell of the family-friendly Sion consists of 456 seamlessly integrated solar half-cells that extend the time between charges and enable self-sufficiency on short journeys. Its solar technology extends Sion’s estimated 190 mile battery range by an average of 70 miles per week in typical weather conditions and by as much as 150 miles per week in optimal conditions. Sion’s 54 kWh LFP battery will allow for a maximum charging capacity of up to 75 kW (DC) and 11 kW (AC). Bidirectional charging up to 11 kW will turn Sion into a solar “power plant” that can charge devices, other EVs, or put energy back into private or public energy grids.

To date, Sion has received more than 20,000 active private reservations (with an average down payment of about $2,000) as well as more than 22,000 pre-orders from fleet operators, including more than 12,000 from FINN, a subscription car service that operates in Germany and the U.S. With an expected retail price tag of approximately $25,000 — and a reduced need to plug-in to charge — the Sion is expected to have among the lowest total cost of ownership in the medium-size passenger vehicle category. In partnership with Valmet Automotive, Sono Motors plans to start production in Finland in the second half of 2023 and aims to produce approximately 257,000 Sion vehicles within seven years.

Sono Motors recently unveiled its Solar Bus Kit, an efficient solar retrofit solution optimized for 40-foot public buses commonly used in Europe. It is designed to allow electrical subsystems like HVAC, heating, ventilation, automatic doors, and video screens to be partially powered by solar energy, and can save up to 400 gallons of diesel and up to 4.4 short tons of CO2 per bus per year.

More than 20 companies worldwide are already piloting Sono Motors’ integrated solar technology – including a subsidiary of Mitsubishi Europe, MAN Truck & Bus, CHEREAU, Kögel, and the Munich municipal bus system – on a variety of fleet vehicles such as buses, trailers, trucks, and electric transporters. Several of these customer deployments debuted for the first time in September at IAA Transportation 2022, the world’s largest transportation event dedicated to commercial vehicles.

Sono Motors also underscored its partnership with Sibros, a San Jose, California-based pioneer of Deep Over-the-Air (OTA) Connected Vehicle Systems. Sibros works with global automakers to optimize fleet health, reduce software recalls, and create new connected services with full vehicle OTA software updates, data collection, and diagnostics in a single system. Sion’s software updates, data collection, and remote interactions will be handled by the Sibros Deep Connected Platform, giving Sono Motors direct insight into vehicle data and fleet analytics and the ability to reduce maintenance and service costs, while also diagnosing and fixing potential problems before they compromise vehicle capabilities, including malware hacks and other cybersecurity issues.

“We are proud to have been selected by Sono Motors, which we believe to be one of the most innovative global leaders in the solar-powered vehicle market, to provide our connected vehicle technology to the impressive Sion,” said Hemant Sikaria, CEO and co-founder of Sibros. “The popularity and pre-orders of the Sion has emphasized the need for safe, secure and reliable over-the-air software updates and data collection for the entire vehicle fleet. Innovative technologies such as solar-powered vehicles are the future and we’re excited to partner with Sono Motors for the ride.”

Sono Motors Gains Scania and LLT as New Customers

2022-10-06T17:09:00+02:00

Sono Motors Gains Scania and LLT as New Customers, Putting Buses With Solar Technology on the Road in Luleå, Sweden.
Several Scania Diesel Buses Operated by the LLT Public Transport Authority Have Been Equipped With Sono Motors’ Innovative Solar Technology and Are Already up and Running.
A Customized Version of the Solar Bus Kit, Developed by Sono Motors, Is Now Being Tested in Northern Climates in Real-Life Conditions.
According to LLT and Scania, Solar Technology Could Be an Option for Future Electric Buses.

MUNICH, Germany, 6 October 2022 – The Munich-based solar mobility OEM Sono Motors (NASDAQ: SEV) gains new customers in Scania, a subsidiary of Volkswagen, and LLT, a Swedish public transport authority, in a unique project to test the Solar Bus Kit in real-life conditions in the northern hemisphere. The objective of the project is to optimize the efficiency of the solar technology for buses in northern climates. LLT is the first transport authority in Scandinavia to equip buses with a customized version of the Solar Bus Kit with 1 kW peak installation, and have equipped six Scania model Citywide K320 diesel buses. These solar-equipped buses are used for public transport in Luleå, Sweden and are intended to help reduce transport emissions. For each year of operation, the solar technology developed by Sono Motors has the potential to save approx. 2.9 tonnes of CO2 and up to 1,100 liters of diesel per bus. According to LLT and Scania, solar technology could be an option in the future to increase the range of electric buses.

Scania, a subsidiary of the Volkswagen group, is a world-leading provider of transport solutions, including trucks and buses for heavy transport applications. In 2021, the Swedish company sold and delivered over 85,000 trucks and more than 4,400 buses. The Citywide K320 is another bus model for which Sono Motors has optimized its Solar Bus Kit, following the optimizations for the MAN Lion’s City and the Mercedes-Benz Citaro.

“Sustainable public transport is one of the most important pillars of the revolution of mobility. Our Solar Bus Kit was developed as a scalable retrofit product intended to help public transport authorities to start saving diesel and reduce emissions today. We are happy to have found two partners in Scania and LLT who share our values, and it is gratifying to see the fruit of our efforts now on the roads of Sweden,” says Laurin Hahn, CEO and co-founder of Sono Motors.

“The Solar Bus Kit has the potential to reduce both the amount of fossil energy sources used and CO2 emissions. For Scania, it is great to be able to test the solar technology for buses in real-life conditions with a client that we know shares similar goals, and with whom we also have a long and established relationship,” says Rutger Hörndahl, Senior Technical Advisor Scania Buses and Coaches.

“LLT’s goal is to provide public transportation that has the least amount of impact on the environment. This project is a part of our work to evaluate new technologies and decrease our carbon footprint. By 2030 half of our buses will be fully electric. Solar-equipped diesel buses will help us learn the pros and cons of this technology. Solar is one of the future’s large-scale energy sources and it’s good for us at LLT, the climate, and the city of Luleå to gain more knowledge and insight on how solar technology can be implemented as a future mobility solution,” says Jonas Vinblad von Walter, CEO of LLT.

ABOUT LLT
LLT plans and executes public transport for buses in Luleå city. The company dates back to 1923 and for the last 15 years has been in the top three in terms of satisfied customers in Sweden. LLT's vision is that public transport in Luleå should be competitive, sustainable, modern and the preferred choice for the city's residents and visitors.

The city of Luleå has just over 48,000 inhabitants and over the course of a year this generates 3.4 million customer journeys with LLT. During a winter's day, with temperatures down to -30 degrees Celsius, around 25,000 customers travel with LLT.

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. The words "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs, or current expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties, and assumptions include, but are not limited to (i) the impact of the global COVID-19 pandemic on the global economy, our industry and markets as well as our business, (ii) risks related to our limited operating history, the rollout of our business and the timing of expected business milestones including our ability to complete the engineering of our vehicles and start of production on time and budget and risks related to future results of operation, (iii) risks related to our unproven ability to develop and produce vehicles and with expected or advertised specifications including range, and risks relating to required funding, (iv) risks related to our ability to monetize our solar technology, (v) risks relating to the uncertainty of the projected financial information with respect to our business including the conversion of reservations into binding orders, (vi) effects of competition and the pace and depth of electric vehicle adoption generally and our vehicles in particular on our future business and (vii) changes in regulatory requirements, governmental incentives, and fuel and energy prices. For additional information concerning some of the risks, uncertainties, and assumptions that could affect our forward-looking statements, please refer to the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov and on our website at ir.sonomotors.com. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as the actions of regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

Sono Motors Debuts at IAA Transportation With Four Solar Trailer Premieres

2022-09-19T14:20:00+02:00

In Hall 26, Booth C02, Visitors Can Experience Sono Motors’ Complete Range of Solar Technology for Its Three Key Industries - Buses, Electric Transporters as Well as Refrigerated Vehicles
Sono Motors Debuts at IAA Transportation With Four Solar Trailer Premieres In Collaboration With CHEREAU, KÖGEL, MTTE (Mitsubishi subsidiary) And Wingliner
The Scalable Retrofit Solution “Solar Bus Kit” Is Shown to the Industry for the First Time in Hanover

MUNICH, Germany, 19 September 2022 – Sono Motors, the Munich-based solar mobility OEM, will attend IAA Transportation, the world's most important platform for the future of the commercial vehicle industry, for the first time.

In hall 26, booth C02, Sono Motors will display its complete range of technology and solutions for its three key industries - buses, electric transporters and refrigerated vehicles. The company's innovative solar technology has been engineered to enable seamless integration into a variety of vehicle architectures and even curved surfaces like a bus roof shoulder for example. For cargo box type vehicles Sono Motors is developing flexible and light-weight sandwich panel body parts that ensure seamless integration and optimal heat-distribution. For the first time at a public event, Sono Motors also presents the in-house developed solar charge controller, the MCU (MPPT Central Unit). The MCU has an intelligent algorithm that optimizes the PV modules’ energy yields.

The refrigerated trailers from CHEREAU, KÖGEL and MTTE feature customized vehicle-applied solar solutions that help to partially cover the trailers' energy and refrigeration needs with renewable energy. Full solar integration on the roof and sides of a 40t semi-truck trailer is expected to cover up to 50% of the cooling units’ yearly average energy needs. A fourth solar trailer with foldable hydraulic side walls for the Austrian trailer manufacturer Wingliner was built specifically for IAA and will later be transformed into a functional vehicle.

Solar Bus Kit: The Retrofit Solution For Bus Fleets

The Solar Bus Kit is a complete and efficient retrofit solution, optimized for the most common 12-meter public transport bus types on the European market, including the Mercedes-Benz Citaro and MAN Lion's City. Sono Motors’ new product underscores the move from prototype projects to a scalable solution contributing to climate protection and the reduction of inner-city greenhouse gas emissions.

The Kit allows subsystems, such as heating, ventilation, and air conditioning (HVAC), to be partially powered by renewable energy, thereby saving fuel, CO2, and costs. It can save up to 1,500 liters of diesel and up to 4 tonnes of CO2 per bus per year from the approximately 1.4 kW peak installation with about 8 sqm of solar panels. Bus fleet operators stand to see a potential payback time of approximately 3-4 years, depending on days in operation and fuel prices.

"Decision-makers in municipalities and transport companies are under huge pressure to make their fleets emission-free. In addition, they are facing steeply rising energy prices. Therefore, the Solar Bus Kit is the ideal solution to accelerate the transition towards zero-emission vehicles already today," concludes Lars Löhle, Head of Product Sono Solar.

From 20 to 23 September, the Sono Solar team will also present the Solar Bus Kit and its bus solutions at Innotrans in Berlin, the leading international trade fair for transport technology.

The solar trailer premieres in detail

1. CHEREAU (40t semi-truck trailer, refrigerated)

total power installed: 9.8 kilowatt peak
no. modules: 54
solar area: ~ 58.9 m² solar area (roof plus sides)
type of cooling unit: Daikin electric cooling unit
energy earnings: 21.2 kWh/day yearly average in Munich
location: Daikin booth, hall 27, C17

2. Kögel (40t semi-truck trailer, refrigerated)

total power installed: 4.68 kilowatt peak
no. modules: 26
solar area: ~26 m² solar area (roof only)
type of cooling unit: Vector HE 19 (Carrier) - all electric cooling unit
energy earnings: 11.8 kWh/day yearly average in Munich
location: open air space, S17

3. Mitsubishi Heavy Industries Thermal Transport Europe GmbH (40t semi-truck trailer, refrigerated)

total power installed: 4.68 kilowatt peak
no. modules: 26
solar area: ~26 m² solar area (roof only)
type of cooling unit: MITSUBISHI TFV150
energy earnings: 11.8 kWh/day yearly average in Munich
location: open air space, T25

4. Wingliner (show trailer)

total power installed: 3.43kWp
no. modules: 16
solar area: ~25 m² solar area (roof only)
energy earnings: 8.6 kWh/day yearly average in Munich
location: open air space, R57

Second Quarter 2022: Increasing Orders for ‘Sion’ Solar-Electric Passenger Car and More B2B Solar-Retrofit Projects

2022-09-08T14:21:00+02:00

Sono Motors’ Revenues in the Second Quarter 2022 Exceed First Quarter 2022 Revenues.
Revenue Development Bolstered by a Total of 21 Sono Solar B2B Customer Projects as of Today.
Debut of ‘Sion’ in Its Production Design and Introduction of ‘Solar Bus Kit’, a Scalable B2B Solution to Enable Sustainable Mobility for Commercial Transport.
First Series-Validation Vehicles Fully Assembled and in Testing.
As of 1 September 2022, Over 20,000 Reservations (B2C) for the Sion With Average Down Payment of About €2,000 Net and Equivalent Net Sales Volume of About €435 Million.
As One of Sono Motors’ First B2B Customers, FINN Intends to Purchase 12,600 Sion to Create a Sustainable Fleet.

MUNICH, Germany, 8 September 2022 – The solar-mobility OEM Sono Group N.V. (NASDAQ: SEV) (hereafter referred to as “Sono Motors” or the “Company”) today announced its financial results for the second quarter of 2022.

Second Quarter 2022 Highlights

3 additional solar partner contracts added in the second quarter of 2022.
Revenues in the first half of 2022 were 2.6 times higher than revenues for the full fiscal year 2021.
Revenues for the second quarter of 2022 from the integration of the Company’s solar technology and Sono Digital were higher than for the first quarter of 2022.
Cash and cash equivalents of €89.8 million as of 30 June 2022.
Operational expenses increased mainly due to intensified prototype program and general company growth.

Business-to-Business (B2B) Solar Solutions: Scalable Product Delivered and Increasing Customer Base

Sono Motors is on track with both business pillars. On the one hand the delivery of solar solutions to its growing business-to-business customer base and on the other the premiere and commencement of testing of the ‘Sion’ solar-electric passenger car in its production design. As of today, the Munich-based solar-mobility OEM is partnering with 21 companies worldwide and has unveiled the all new ‘Solar Bus Kit’ to customers. This retrofit solution underscores the Company’s move from prototype projects to a scalable solution contributing to climate protection and the reduction of inner-city greenhouse gas emissions. Sono Motors plans to cooperate with “ÖPNV-Service Hagen” on the Kit’s installation, after-sales, and logistics services in order to increase assembly capacity in Europe and provide fast and professional retrofits, as well as maintenance for Sono Motors’ customers. 21 partnerships in total translate into an increase of 14 partner arrangements until today, compared to 7 partners as of 30 June 2021.

The Sion: Increasing Demand and on Track With the Development Program

On the Sion business pillar, Sono Motors sees an increasing demand for the Sion from both private reservations and fleet operators. On 1 September 2022, the Company announced the achievement of reaching 20,000 private reservations (B2C) of its Sion, with an average down-payment of about €2,000 net and equivalent net sales volume of about €435 million, assuming that all reservations result in sales. At an expected net sales price point of just €25,126 – the Sion has the potential to become the world’s first solar electric vehicle (SEV) for the masses, since the proprietary solar technology considerably reduces the necessity to charge the vehicle. Sono Motors is also to partner with FINN, a Munich-based car subscription platform operating in the U.S. and Germany. As one of Sono Motors’ first B2B customers, FINN intends to purchase 12,600 Sion to create a sustainable fleet and drive forward the company’s environmental goals.

In addition to its collaborations, at the end of July 2022, Sono Motors successfully celebrated the debut of the Sion in its production design with over 1,500 community members and media guests on-site. The event followed the completion of the first series-validation vehicles which marked a milestone towards the start of production planned for the second half of 2023. On-street testing with the series-validation prototypes has already started and the focus currently lies on homologation, crash tests, testing in different climates, optimizing solar technology and safeguarding, as well as refining driving dynamics.

“Right Business Model for Putting Cleaner Solar-Powered Transport on the Streets”

“We are excited to see good headway on our growth path with high demand for the Sion and for our B2B solar offerings. This is a great step towards our vision of a world that no longer relies on fossil fuels, as customers are already reducing CO2 output with our Solar Bus Kit. This demand demonstrates that we have the right strategy and business model for putting cleaner solar-powered transport on the streets and making every vehicle solar. We are excited to continue on our journey to provide clean, affordable, and accessible solar transportation to the masses. We are on-track towards delivering our promise and on our growth strategy,” states Laurin Hahn, CEO and co-founder of Sono Motors.

Financial Highlights

On 11 May 2022 the Company closed its underwritten follow-on offering of 10,930,000 ordinary shares, resulting in approximately $41.5 million in net proceeds.
On 13 June 2022 the Company announced it had entered into a committed equity facility with Berenberg. The committed equity facility provides Sono Motors with the right, without obligation, to sell and issue up to $150 million of its ordinary shares over a period of 24 months to Berenberg at the sole discretion of Sono Motors, subject to certain limitations and conditions.
Cash and cash equivalents of €89.8 million as of 30 June 2022, down from €132.9 million as of 31 December 2021.
Operational expenses increased mainly due to intensified prototype program and general company growth.
Loss from operations totaled €35.2 million in the second quarter of 2022 and €61.0 in the first half of 2022 (second quarter of 2021: €15.2 million; first half of 2021: €24.4 million).
Net loss totaled €35.2 million and €0.45 loss per share in the second quarter of 2022 and €61.0 million and €0.81 loss per share in the first half of 2022 (second quarter of 2021: €15.2 million and €0.47; first half of 2021: €24.5 million and €0.76).

Further Outlook for 2022

As key milestones in 2022, Sono Motors will debut four B2B-customer projects, including CHEREAU, Kögel, Wingliner, and Mitsubishi Heavy Industries Thermal Transport Europe (MTTE) at the end of September at IAA Transportation, the leading trade fair for the transportation industry. On top the Company plans to present the Sion for the first time ever to an U.S. audience in the fourth quarter 2022. In terms of financial guidance for 2022, Sono Motors expects to generate further revenues with solar customers, the vast majority of which are expected for the fourth quarter of 2022.

Conference Call Information

Sono Motors will host a webcast for analysts on this occasion at 8:00 a.m. Eastern Time (2:00 p.m. CEST) today, 8 September 2022. The live audio webcast and supplementary information will be accessible via Sono Motors’ IR website at https://ir.sonomotors.com/. A recording of the webcast will also be subsequently available.

FINN Intends to Purchase 12,600 Sion from Sono Motors to Be Used in a Sustainable Fleet

2022-09-07T13:00:00+02:00

FINN and Sono Motors Signed a Letter of Intent Concerning the Reservation and Purchase of 12,600 Sion
Deliveries to FINN are Expected to Begin in 2024

MUNICH, Germany, 7 September 2022 – Sono Motors (subsidiary to “Sono Group N.V.”, NASDAQ: SEV), the Munich-based solar mobility OEM, signed a Letter of Intent with FINN, a Munich-based car subscription platform, aiming to solidify their cooperation. FINN was one of Sono Motors’ first B2B reservation holders. Following its initial, non-binding reservation of 5,500 Sion in 2020, FINN now intends to reserve and purchase a total of 12,600 Sion, to create a sustainable fleet and drive forward the company’s environmental goals. Sono Motors and FINN seek to reach a final agreement regarding their cooperation in 2023.

The aim of the cooperation is to provide cars to FINN to enlarge the sustainability of their fleet. Start of production for the Sion is planned for the second half of 2023 and Sono Motors plans to deliver 100 Sion for FINN’s fleet in 2024. A further 2,500 vehicles are planned to be delivered thereafter per year, until the total of 12,600 is reached. FINN plans to use those Sion for their service in Germany.

FINN is a Munich-based flexible car subscription platform, operating in the U.S. and Germany. With already 30 percent of the whole fleet being electric cars, the company is looking to further diversify its range and to make mobility more climate friendly.

On top, Sono Motors reported more than 20,000 direct consumer reservations (B2C) as of 1 September 2022, with an average down-payment of about €2,000 net. At an expected net sales price point of just €25,126 – the Sion has the potential to become the world’s first Solar Electric Vehicle (SEV) for the masses.

To reduce the waiting period until the Sion will be delivered and to already ensure a more sustainable mobility, FINN is offering all customers who pre-ordered the Sion a unique discount of 500 Euro for a car subscription on their platform. More information can be found here: sonomotors.com/wait-and-drive-with-finn.

ABOUT FINN
FINN is a car subscription platform united by its purpose to make mobility fun and sustainable by providing a flexible, fun, and sustainable way to choose the car that best fits its customers' lifestyles. The established car subscription provider offers complete transparency in pricing, as well as comprehensive insurance, maintenance and 24/7 customer and roadside support. What is more, the company facilitates the transition to drive electric vehicles and compensates the CO2 for every mile driven for all its cars. FINN makes driving a car as easy as purchasing shoes online: with just a few clicks, customers can subscribe to a car that will be delivered straight to their door in just a few days or weeks.

Sono Motors to Partner With ÖPNV-Service for Solar Retrofit Implementation

2022-09-06T10:15:00+02:00

Sono Motors Signs Letter of Intent (LoI) With ÖPNV-Service Hagen
The LoI is Expected to Lead to a Strategic Partnership With ÖPNV-Service for the Implementation of Sono Motors’ Solar Retrofit Solution for Buses, the Solar Bus Kit
The New Partner is Expected to Provide Installation, Servicing and Logistics Services
Sono Motors’ Solar Bus Kit Can Reduce Fuel Consumption and Inner-City Greenhouse Gas Emissions by Supplying Buses with Solar Power

MUNICH, 6 September 2022 – The solar mobility OEM Sono Motors (subsidiary to “Sono Group N.V.”, NASDAQ: SEV) announced the signing of a letter of intent (LoI) with ÖPNV-Service Hagen. The parties aim to conclude a contract concerning a partnership for Sono Motors’ solar retrofit solution, the Solar Bus Kit. As part of the partnership, the companies are expected to cooperate on the Kit’s installation, after-sales and logistics services to increase assembly capacity in Europe and provide fast and professional retrofits, as well as maintenance. ÖPNV-Service has over 15 years of experience as a service provider in the public transportation sector and performs 4,000 modernizations of commercial vehicles annually.

“While the transition of public transportation towards a zero-emission future will still take a few years, the Solar Bus Kit is a solution that enables an immediate response to new emission regulations, like the Euro 7 standard, and increasing energy prices. To meet the needs of the industry and help our bus operators to cut costs and emissions throughout their fleets, we were looking for a partner who can support us with implementing our Solar Bus Kit”, says Laurin Hahn, CEO & co-founder of Sono Motors.

The Solar Bus Kit is a versatile and straightforward solution, optimized for the most common 12-meter public transport bus types on the European market, including Mercedes-Benz Citaro and MAN Lion's City. It allows subsystems, such as heating, ventilation, and air conditioning (HVAC), to be partially powered by renewable energy, thereby saving fuel, CO2, and costs. The Kit can save up to 1,500 liters of diesel and up to 4 tonnes of CO2 per bus per year from the approximately 1.4 kW peak installation with about 8 sqm of solar panels. Bus fleet operators stand to see a potential payback time of approximately 3-4 years, depending on days in operation and fuel prices.

Lars Löhle, Head of Product Sono Solar, says: “We intend to enter into a cooperation with ÖPNV-Service to provide fast installation and maintenance for our national and international customers while meeting our quality standards.”

ÖPNV-Service’s field of expertise lies in the areas of cabling, repair, maintenance, and services for public transportation. The company retrofits several thousand means of transport per year and is listed as an official supplier for various fleet operators, like Deutsche Bahn, which operates over 17,000 buses.

The partners signed an LoI to express their mutual interest in this cooperation. The current negotiations aim to conclude a contract and start operations in the fourth quarter of 2022. With respect to long-term cooperation, the parties are looking into expanding their partnership to sales and distribution of the Kit. Sono Motors will announce more information on the Solar Bus Kit during IAA Transportation from 19 - 25 September, 1 Hall 26 Booth C02 and at InnoTrans from 20 - 23 September, Mobility+ exhibition area, Hall 7.1c, Booth 210.

Sono Motors Reaches 20,000 Reservations for Its ‘Sion’ Solar-Electric Passenger Car

2022-09-01T09:34:00+02:00

As of 1 September 2022, Munich-Based Solar Mobility OEM Sono Motors Reported More Than 20,000 Direct Consumer Reservations, With an Average Down Payment of about €2,000
At an Expected Net Sales Price Point of Just €25,126 – the Sion Has the Potential to Become the World’s First Solar Electric Vehicle (SEV) For the Masses

MUNICH, Germany, 1 September 2022 – The Munich-based solar mobility OEM Sono Motors (subsidiary to “Sono Group N.V.”, NASDAQ: SEV) has announced the achievement of reaching 20,000 private reservations of its Sion, with an average down-payment of about €2,000 net. At an expected net sales price point of just €25,126 – the Sion has the potential to become the world’s first Solar Electric Vehicle (SEV) for the masses.

The start of production is planned for the second half of 2023 via contract manufacturing in Finland. Sono Motors’ partner Valmet Automotive has extensive expertise in manufacturing for high-tech OEMs. After a ramp-up period the partners aim to produce approximately 257,000 Sion vehicles within seven years.

IAA Transportation – Sono Motors to Premiere Several Commercial Vehicles With Solar Solutions

2022-08-18T15:00:00+02:00

Sono Motors to Debut Multiple Commercial Vehicles With Solar Solutions and the All New Solar Bus Kit at IAA Transportation in Hanover, 19 - 25 September, Hall 26 Booth C02
In Cooperation With Their Partners, Sono Motors Will Present Their State-Of-The-Art Solar Solutions for Refrigerated Trailers, E-Buses and E-Transporters for the First Time
The Partner Projects Include, the CHEREAU Refrigerated Trailer and Three More Premieres of Vehicles and Corporations in the Trailer and Refrigerated Vehicle Industries

Munich, 18 August 2022 – Sono Motors, the company pioneering solar-powered mobility, will participate for the first time as an exhibitor at IAA Transportation 2022 in Hanover. From 19 - 25 September (exclusive press day on 19 September), the Munich-based solar mobility OEM will present its proprietary solar technology as well as several solar integrated prototypes of commercial vehicles to a broad public.

At booth number C02 in Hall 26, the experts from Sono Motors will be demonstrating the Solar Bus Kit, a technology solution that can be used for retrofitting diesel buses. The Solar Bus Kit enables CO2 emissions and fuel savings and was previewed at Sono Motors' Celebrate the Sun event on 25 July. In Hall 27 and on the adjacent open-air site, Sono Motors, CHEREAU, and three new partners will be demonstrating different trailer prototypes with solar integration.

"Energy prices are rising and new emission regulations have to be met. The Euro 7 standard, for example, will be introduced in the next few years. Bus and truck fleet operators will also have to respond to this. Our solar solutions can save fuel and costs in addition to CO2 emissions, and increase range and autarky," says Laurin Hahn, CEO and Co-Founder of Sono Motors.

Sono Motors Unveils Production Design of Its ‘Sion’ Solar-Electric Passenger Car And ‘Solar Bus Kit’ For Public Transportation Fleets

2022-07-25T19:30:00+02:00

Munich-Based Solar Mobility OEM Sono Motors Mark Two World Premieres at Its First “Celebrate the Sun” Community Event
The Sion, the World’s First Solar Electric Vehicle (SEV) For the Masses, Debuted in Its Production Design
All New ‘Solar Bus Kit’ Underscores the Move From Prototype Projects to a Scalable Solution Contributing to Climate Protection and the Reduction of Inner-City Greenhouse Gas Emissions
Company Remains on Track Whilst Further Accelerating on Both Strategic Business Pillars
As of 1 July 2022, the Company Reached over 19,000 Direct Customer Reservations With Down-Payment and 19 B2B Customer Projects for Solar Integration

MUNICH, Germany, 25 July 2022 – Sono Motors (subsidiary to “Sono Group N.V.”, NASDAQ: SEV), the company that is pioneering solar-powered mobility, today held its first “Celebrate the Sun” Community event with more than 1,500 guests. During the event, the Munich-based OEM celebrated the debut of the world’s first affordable solar electric vehicle (SEV), the Sion, in its production design, and the unveiling of its novel ‘Solar Bus Kit’, a scalable B2B retrofit solution that reduces fuel consumption and inner-city greenhouse gas emissions, thereby contributing to climate protection.

“We are tremendously excited for Sono Motors’ journey towards providing clean, affordable, and accessible solar transportation for the masses. The premieres of the Sion in its production design and the ‘Solar Bus Kit’ represent a giant leap forward in realizing our vision for a sustainable world, furthering our mission to reduce carbon emissions,” said Laurin Hahn, co-founder and CEO of Sono Motors. “Production of our series-validation fleet and presenting the Sion in its production design is a further step towards delivering on our promise of an affordable solar-electric passenger vehicle. In addition, business diversification through the establishment of our B2B solar business as a strategic pillar helps us to achieve our key targets. We are scaling up our Sono Solar business with our new ‘Solar Bus Kit’ and have successfully increased our B2B customer base.”

The Sion: Key Milestones Towards Series Production Achieved

Starting as an idea between friends in a Munich garage, Sono Motors has grown to become a pioneer in solar-powered transportation via its development of the Sion, an affordable and reliable SEV for the masses. The Sion’s unique market position, coupled with Sono Motors’ proprietary Sono Solar Technology positions the Company perfectly to seize upon a growing shift toward a more sustainable future and enables individual contribution to climate-friendly mobility through the Company’s blend of disruptive technology and affordability.

In its final production design, the Sion received major enhancements compared to earlier concepts: the exterior and interior now feature fewer lines and clearer surfaces. The Sion’s revamped exterior design includes new headlights and rear lights, a new bottom sideline design, new door handles, a streamlined rear with new camera and 3D lines, and a new charging lid. Inside, the Sion features a more spacious, cleaner interior with more storage, newly designed front seats and rear bench, and a new steering wheel. The Sion will also offer new color and trim for interior surfaces.

The outer shell of the family-friendly Sion will consist of 456 seamlessly integrated solar half-cells and will enable self-sufficiency on short journeys. The energy generated by the solar cells is expected to extend the estimated 305 km range of the Sion's 54 kWh LFP battery by an average of 112 km (up to 245 km) per week. Commuters in German metropolitan areas will have to charge their Sion up to four times less than conventional electric cars of the same vehicle class with a similar battery size. The battery will allow for a maximum charging capacity of up to 75 kW (DC) and 11 kW (AC). Bidirectional charging technology complements the car’s solar integration and is designed to turn the Sion into a sustainable power plant on wheels that is expected to be able to power electronic devices, the home or other electric cars with an output of up to 11 kW.

Sono Motors is currently building its fleet of series-validation vehicles in Munich close to the company’s HQ, ushering in the Sion's testing program, which has already commenced. In the next months, this vehicle generation will undergo uncompromising practical tests under extreme conditions in both Europe and the U.S. This includes series validation, homologation, crash tests, testing in different climates, optimizing solar technology and safeguarding, as well as refining driving dynamics on test tracks and on public roads.

As of 1 July 2022, Sono Motors has over 19,000 active private reservations for the Sion, with an average down-payment of €2,225 and equivalent net sales volume of about €415 million, assuming that all reservations result in sales. At an estimated net sales price point of just 25,126 euro, the Sion is expected to have one of the lowest TCOs (total cost of ownership) in the medium-size segment since the proprietary solar technology considerably reduces the necessity to charge the vehicle.

The Company has an asset-light approach, with start of production planned for the second half of 2023 via contract manufacturing in Finland, foregoing the need for building its own production facilities. Sono Motors’ partner Valmet Automotive has extensive expertise in manufacturing for high-tech OEMs. After a ramp-up period the partners aim to produce approximately 257,000 Sion vehicles within seven years.

Solar Bus Kit: B2B retrofit solution to enable sustainable mobility for commercial transport

The Solar Bus Kit is a versatile and straightforward solution, optimized for the most common 12-meter public transport bus types on the European market, including Mercedes-Benz Citaro and MAN Lion's City. Sono Motors will offer a complete and efficient retrofit solution for bus fleet operators who have a compelling need to reduce diesel consumption and CO2 emissions to meet their sustainability goals.

The Solar Bus Kit allows subsystems like the HVAC to be partially powered by renewable energy thereby saving fuel, CO2, and costs. The Kit can save up to 1,500 liters of diesel and up to 4 tonnes of CO2 per bus per year from the ~1.4 kW peak installation with a total size of about 8 square-meters of solar panels. Bus fleet operators stand to see a potential payback time of approximately 3-4 years, depending on days in operation and fuel prices. Sono Motors will announce more details during IAA Transportation in September.

“Our solar technology is already contributing to climate protection and reducing CO2 emissions for numerous partners. In Munich, for example, we are collaborating with the city’s public transport company and are thereby supporting the city’s clean air targets. Such partnership projects demonstrate the potential of our technology for the transport sector,” said Jona Christians, co-founder and CEO of Sono Motors. “We’re proud to celebrate the unveiling of our novel solar product, the ‘Solar Bus Kit’, which will truly push our mission of making every vehicle a solar vehicle to the next level. The all-new Solar Bus Kit allows us to strengthen our solar business by maximizing the scalability of our technology to a huge market: the public and private bus fleet sector. It also represents a milestone on our path toward a world without fossil fuels.”

Sono Motors is well on track with its plan to diversify its business and has currently delivered customized solar solutions to several B2B customers. As of today, the Munich-based solar-mobility specialist is partnering with 19 companies worldwide – including MAN Truck & Bus and CHEREAU – to implement its Sono Solar Technology on a variety of vehicle architectures such as buses, trailers, trucks, and electric transporters. Depending on the use case, size and type of the solar integration, Sono Motors’ lightweight and adaptable solution allows customers in the transportation industry to cut costs and emissions throughout their fleets.

“Find a Community” – Sono Motors Expands Carsharing With Innovative Service

2022-07-05T10:00:00+02:00

Launch of the Sono Motors Carsharing App Developed by Sono Motors, Which Makes Every Private Car Accessible to a Self-Defined Community
A Growing Community: The New “Find a Community” Service Helps App Users to Connect With Each Other and Share Vehicles Even More Easily
Going Well Beyond the Sion Solar Electric Car Developed by Sono Motors, the App Is Designed to Increase the Capacity Utilization of Private Cars by 150 Percent

Munich, 05 July 2022 – Sono Motors, the company that is aiming to revolutionize the future of solar-powered transportation, recently launched the Sono Motors Carsharing app. Sono Motors is therefore reacting to the untapped potential of around 43 million cars in Germany that are driven for a daily average of an hour. The app allows vehicles of all brands to be shared within a community of trusted people. Pilot projects conducted by Sono Motors have shown that this can potentially increase the utilization of private vehicles by 150 percent and make it possible to reduce monthly costs for car owners by up to 85 percent. Sono Motors is now following up on this and is expanding the app to include the “Find a Community” service. Car owners can now publicly have their vehicles shown in the app and thus not only share with people they already know, but also find new members for their community more easily. Conversely, people who do not own a car can find existing communities nearby and connect with them. The app has great potential above all outside conurbations where other car-sharing providers are not present or only present on a small scale.

Strengthening the Community Feeling and Sense of Responsibility

The great difference between Sono Motors Carsharing and the offerings from competitors is the fact that the sharing community is defined and managed by the vehicle owners themselves. This creates a genuine feeling of belonging to a community, and the sense of responsibility for the loaned vehicle is also increased. Uncomplicated third-party driver insurance is already included in case a vehicle is damaged. The Sono Carsharing app can be downloaded free from the App Store or Google Play. After the vehicle owner has registered themselves and their car, the car can be published visibly on the platform and community building can start. Physical handover of vehicle keys is currently supported by a seamless process within the Sono app. A retrofit option for these vehicles to permit keyless handover is already in the planning stage.

The vehicle can be reserved either in advance, for example, for weekend trips, or also booked spontaneously for excursions at short notice after prior agreement. After use, the car must be returned to a “home zone” defined by the vehicle owner. The vehicle owners themselves set the prices. Billing is per minute, distance driven or based on a flat rate.

Car-Sharing Platform Without Its Own Fleet

“Three things were important for us when designing the Sono Motors Carsharing app: how can we reduce the number of cars on our roads while at the same time increasing the utilization of all the vehicles that are just standing around, and also, as a higher-level goal, make significantly more efficient use of vehicles as a resource? The concept originally developed exclusively for the Sion was not enough for us, so we expanded the scope to include all private cars. With the service expansion now launched, we are reacting to the feedback we have received from our customers. We are making connecting and community building even easier and at the same time increasing vehicle utilization,” says Johannes Bückle, Head of Product at Sono Digital.

“Sono Motors Carsharing is an important part of our business model and our vision of a world without fossil fuels. When the Sion is launched, our goal is to become the largest car-sharing platform in Germany with the app – and to achieve this by connecting the community instead of by owning our own vehicle fleet. The app is already proving to be popular and the feedback from the community is very promising,” says Jona Christians, CEO and Co-founder of Sono Motors.

First Quarter 2022: Sono Motors Further Accelerates B2B Customer Projects for Solar Integration

2022-06-22T13:58:00+02:00

Revenues in the First Quarter 2022 Already Exceed Full-Year 2021 Revenues.
Revenue Development Fueled by Sono Solar B2B Customer Projects.
Solar Business Expansion With 5 New B2B Partnerships in the First Quarter 2022.
As of Today, the Sion Series-Validation Vehicle Program Is Picking Up Speed, All Work Streams With New Contract Manufacturer Valmet Automotive Have Been Kicked-off.
As of 15 May 2022, Over 18,000 Reservations for the Sion With Average Down Payment of €2,310 Net and Equivalent Net Sales Volume of €393 Million.

MUNICH, Germany, 22 June 2022 – Sono Group N.V. (NASDAQ: SEV) (hereafter referred to as “Sono Motors” or the “Company”, parent company to “Sono Motors GmbH”), the company that aims to revolutionize the future of solar-powered transport, today announced its financial results for the first quarter of 2022.

Sono Motors is well on track on its plan to diversify its solar technology business and has currently delivered solar solutions to several B2B-customers. As of today, the Munich-based solar-mobility specialist has partnership arrangements consisting of purchase orders and non-binding LOIs with 18 companies worldwide to implement its proprietary Sono Solar Technology on a variety of vehicle architectures such as buses, trailers, trucks, and camper vans. This translates into an increase of 12 partner arrangements until today, compared to 6 by 31 March 2021. Revenues from the integration of the company’s proprietary solar technology and Sono Digital for the first quarter of 2022 was higher than for all of 2021.

“Sono Motors successfully pursues its growth path, as we keep delivering on our major goals. We are rapidly scaling up our Sono Solar business and have successfully increased our B2B customer base. Since March 2022, our proprietary solar technology has been contributing to climate protection and reducing CO2 emissions on Munich public transport to support the city’s clean air targets. Soon our technology will also support further industry leaders to be even more sustainable, such as CHEREAU S.A.S. in France. These examples impressively demonstrate the potential of our highly flexible in-house developed platform as we enter new vehicles and industries such as buses, logistics, and refrigerated transportation. Our goal to diversify our business by establishing our B2B solar business as a strategic pillar, equal to our solar electric vehicle, the Sion, is going according to plan in 2022,” states Laurin Hahn, CEO and co-founder of Sono Motors.

Among the new partners are CHEREAU S.A.S., a leading manufacturer of refrigerated trailers in Europe, and German logistics giant Rhenus. Depending on the use case and size and type of the solar integration, Sono Motors’ lightweight and adaptable platform allows any customer in the transportation industry to cut costs and emissions throughout their fleets.

The Sion: Key Milestones Towards Series Production Achieved
On the B2C side, Sono Motors has successfully taken further important steps towards series production of the Sion, the world’s first affordable solar electric vehicle (SEV). The focus currently lies on enhancing the quality, testing, and speed of the SEV program. Construction of the series-validation fleet bodies-in-white, last month, ushered in the completion of yet another milestone towards series production. Final assembly of the series-validation vehicles is ongoing close to the Company’s HQ in Munich. Among the parts ready to be mounted are in-house developed next-generation solar body panels. The fleet of vehicles will be used for series validation, optimization, homologation, and crash tests.

While the series-validation vehicle program advances, Sono Motors’ development team is progressing towards series production with contract manufacturer Valmet Automotive in Finland. All work streams have been kicked-off and engineers from both companies are already working closely together on improvements for the current vehicle generation and preparing for manufacturing. The cooperation with Valmet Automotive marks another milestone towards delivering the Sion to the growing community. The Company plans the start of production (SOP) in the second half of 2023. Sono Motors aims to have a production set-up, using one hundred percent renewable energy. The Company currently expects that all production-related greenhouse gas emissions that cannot be avoided along its supply chain, or during the production process of the vehicles, will be fully offset through relevant measures.

As of 15 May 2022, Sono Motors has received over 18,000 private reservations for the Sion, with an average down-payment of €2,310 and equivalent net sales volume of €393 million, assuming that all reservations result in sales. Sion reservations continue to be predominantly placed in Germany, but the Company is also registering increasing reservation numbers from countries such as Austria, Switzerland, and the Netherlands.

Further Outlook for 2022
As key milestones in 2022, Sono Motors expects to present series-validation vehicles during a community event this summer and to nominate all series suppliers by the end of the third quarter. In terms of financial guidance for 2022, Sono Motors expects to generate further revenues with solar customers, the vast majority of which are expected for the fourth quarter of 2022.

Financial Highlights

On 11 May 2022 the Company closed its underwritten follow-on offering of 10,930,000 ordinary shares, resulting in approximately $41.5 million in net proceeds.
On 13 June 2022 the Company announced it had entered into a committed equity facility with Berenberg. The committed equity facility provides Sono Motors with the right, without obligation, to sell and issue up to $150 million of its ordinary shares over a period of 24 months to Berenberg at the sole discretion of Sono Motors, subject to certain limitations and conditions.
Cash and cash equivalents of €103.0 million as of 31 March 2022, an increase of 190.1% compared to 31 March 2021 (€35.5 million).
Loss from operations totaled €25.5 million in the first quarter of 2022 (first quarter of 2021: €6.9 million). Net loss totaled €25.9 million and €0.35 loss per share (first quarter of 2021: €9.2 million and €0.15).
Operational expense increased mainly due to intensified development of prototypes and general company growth.
Cash in bank increased by €67.5 million as of 31 March 2022 compared to 31 March 2021.

Conference Call Information
Sono Motors will host a webcast for analysts on this occasion at 8:00 a.m. Eastern Time (2:00 p.m. CEST) today, 22 June 2022. The live audio webcast and supplementary information will be accessible via Sono Motors’ IR website at https://ir.sonomotors.com/. A recording of the webcast will also be subsequently available.

Sono Motors Cooperates With Logistics Provider Rhenus to Optimize Solar Technology

2022-06-15T10:00:00+02:00

Rhenus Group Test Vehicle Equipped With Sono Solar Metrology
Extensive Data Collection for Further Optimization of the Tested Solar Solution
Rhenus Van in Use in Berlin, Brandenburg and Mecklenburg-Vorpommern

Munich / Berlin, 15 June 2022 – Sono Motors, the company that aims to revolutionize the future of solar-powered transportation, is working with the Rhenus Group, one of the world’s leading logistics service providers with annual sales of €7.0 billion, on the use of smart solar technology in last-mile logistics. The aim of the cooperation is to collect extensive solar data in real-world operation on the road to further optimize the potential of Sono Motors’ innovative solar technology for use on vans. A first Rhenus Group test vehicle was equipped with irradiance sensors for this purpose and will be on the road for the next 12 months in Berlin, Brandenburg and Mecklenburg-Vorpommern.

The flexible solar modules developed for integration into vehicle surfaces, in combination with the innovative Sono power electronics also enable use in low or indirect sunlight, as is often the case when driving in urban areas. A fully integrated solar system for a van, for example, has the potential to achieve an output of up to 8.8 kilowatt peak (kWp) with an area of just under 54 sqm. In principle, the use of Sono Solar Technology offers customers from both the transport and logistics sectors the possibility to save greenhouse gas emissions and fuel, as well as increased independence from charging infrastructure and a reduction in downtime. Other potential benefits include extending vehicle battery life, as well as reducing maintenance costs.

“The project with the Rhenus Group provides us with important data to further optimize our patented technology. Our solar technology has the potential to make an important contribution to reducing emissions and increasing range in end customer delivery,” says Jona Christians, CEO and co-founder of Sono Motors.

“Innovative technologies such as solar-powered electric vans and trucks could contribute a great deal to the energy transition in the future, as no additional land needs to be sealed for this type of ecological power generation,” explains Jonas von Frieling, Head of Innovation Hub for the Rhenus Home Delivery and Rhenus High Tech. “If there is a widespread switch in transport to electric drives, supply must grow accordingly. Solar cells on vehicles could relieve the grid in the process and offer respite for fleet managers by easing the burden on charging infrastructure. We are leading the way with our test project.”

For comprehensive solar data collection, Sono Motors has equipped the Rhenus 15-tonne truck with 4 light irradiance sensors on the sides and roof. These will immediately record the solar radiation intensity in a long-term test under real conditions. A data logger connected to the data center at Sono Motors via an LTE connection transmits the data. At Sono Motors, all measurement data is linked to concrete results and analyzed and transmitted to Rhenus.

Thanks to the versatility of its solar technology, Sono Motors has already signed more than17 partner agreements with companies such as MAN, easymile and Münchner Verkehrsgesellschaft (MVG). The first vehicles have already been delivered for some customers and partners, such as a solar bus trailer for the Munich transport company (MVG) and a light electric vehicle prototype for ARI Motors.

Sono Group Announces $150 Million Committed Equity Facility

2022-06-13T23:40:00+02:00

Committed Equity Facility Positions Sono Group to Raise Some of the External Funding Needed Until Start of Production.

13 June 2022 – Sono Group N.V. (hereafter referred to as “Sono Motors” or the “Company”) (NASDAQ: SEV), the company that aims to revolutionize the future of solar-powered transport, today announced it has entered into a common shares purchase agreement with Joh. Berenberg, Gossler & Co. KG (“Berenberg“).

The agreement governs a Committed Equity Facility that provides Sono Motors with the right, without obligation, to sell and issue up to $150 million of its ordinary shares over a period of 24 months to Berenberg at the sole discretion of Sono Motors, subject to certain limitations and conditions.

“This new source of funding provides us with the flexibility to raise additional equity funding when and if we choose to do so,” states Laurin Hahn, CEO and co-founder of Sono Motors.

Sono Motors and CHEREAU Sign Contract to Enter the Market for Solar-Powered Refrigerated Trailers

2022-06-01T08:00:00+02:00

Solar Technology to Provide Refrigerated Trailers With up to 9.8 kW Peak, Save Approx. 3,400 Liters of Fuel and Reduce Approx. 9 Tonnes of Local CO2-Emissions per Year per Vehicle
Sono Motors and CHEREAU S.A.S. Announce Joint Production of a First Solar Trailer With 58.9 sqm of Solar Panels
Trailer Will Premiere at IAA Transportation 2022 and Will Be Used to Evaluate the Technical and Economic Feasibility of Integrating a Customized Solar Solution for a High Volume Series Vehicle
Refrigerated Trailer Market Expected to Grow Strongly Due to Increasing Demand for Medicine, Deep-frozen Products and Fast Food

Munich, 1 June 2022 – Sono Motors, the company that aims to revolutionize the future of solar-powered transport, is expanding its solar business by entering the growing refrigerated trailer market with its proprietary Sono Solar Technology, to further reduce global fossil fuel emissions. The company signed a purchase contract with The Reefer Group, an international leader in refrigerated bodies, extending the number of total partners of Sono Motors’ Solar business unit to more than 17 globally. As part of this collaboration, the companies will build a first trailer vehicle with the Reefer Group’s French subsidiary CHEREAU S.A.S. for extensive testing to further evaluate the technical and economic feasibility of integrating a customized solar solution for a high volume series vehicle. The solar integration will provide the trailer’s cooling unit with an additional 9.8 kW peak, offering possible fuel savings of approximately 3,400 liters (up to 8,475 under peak conditions) and providing the potential to reduce the local CO2 emissions by approximately 9 tonnes per year per vehicle compared to trailers with diesel-powered cooling units.*

“This partnership is a huge step for Sono Motors, since we open up a completely new industry for our highly flexible and proprietary Sono Solar technology. We offer a lightweight and adaptable platform that is ideal for refrigerated trailers and allows customers in the transportation industry to cut costs and emissions throughout their fleet. We are very pleased for the opportunity to collaborate with such a respected industry partner like CHEREAU and to be able to work with them towards creating a more sustainable future," says Laurin Hahn, co-founder and CEO of Sono Motors. "We look forward to all the opportunities that this partnership can create."

“The solar integration solutions provided by Sono Motors are the perfect fit for our trailers. We are pleased to be able to work with Sono Motors to create the future prototype that will be part of our demo fleet of sustainable reefer trailers. This is a big step towards making commercial mobility more sustainable and reducing emissions,” says Damien Destremau, CEO at The Reefer Group and CHEREAU.

Solar Trailer to Premiere at IAA Transportation 2022

Sono Motors will be equipping the roof and sides of an existing CHEREAU trailer with 54 solar modules using the VaPV (vehicle applied photovoltaic) process that was developed specifically for the use in cargo-box vehicles like the CHEREAU refrigerated semi-trailer. The high efficiency, automotive-grade solar modules cover an area of 58.9 sqm and will provide up to 9.8 kW peak of energy in total at peak performance. The solar power will be used to operate the cooling unit through charging the battery. This potentially results in approximately 3,400 liters of fuel savings and provides the potential to reduce the local CO2 emissions by approximately 9 tonnes per year per vehicle, compared to trailers with diesel powered cooling units. The solar trailers ‘CO2 backpack’, i.e., emissions caused in production, amounts to a one-off of approximately 6.5 tonnes of CO2 and could be offset after a short runtime of just less than one year. The planned premiere of the trailer at the IAA Transportation 2022 in Hanover will be followed by intensive tests during a several month-long field trial by a CHEREAU customer in France. Part of the testing process is validating the numbers for energy earnings and fuel savings that are based on internal calculations including weather and system efficiency assumptions.

Solar Technology Optimized for Series Integration

For high volume series production Sono Motors is developing its unique solar technology on refrigerated semi-trailers. According to the innovative technology, energy savings of up to 80% compared to diesel can be achieved.*

Great Market Potential for Solar Technology on Refrigerated Bodies

The market for refrigerated trailers is expected to grow strongly due to the rising demand for medicine, deep frozen goods and fast food. In addition, fuel costs are rising and price pressure is intensifying. Sono Motors is counteracting increasing fuel costs and CO2 emissions with its efficient solar technology.

Sono Solar — Sono Motors’ solar business unit — is a one-stop shop for solar integration in vehicles, with the mission to make every vehicle a solar vehicle. Its solar technology has been developed to enable seamless integration into various types of vehicles to reduce the impact of CO2 emissions and pave the way for climate-friendly mobility. Sono’s technology is suitable for integration into existing vehicles as well as production-ready development and integration into new vehicles during the production phase. Known for its polymer-based solar technology, Sono Motors is developing various technology solutions suitable for different vehicle architectures such as trucks, trailers, vans or buses.

Sono Motors has already signed more than 17 commercial contracts with companies such as MAN, easymile and the Münchner Verkehrsgesellschaft (Munich Transport Company — MVG). The Sono Solar complete solution includes a customized concept including solar modules, power electronics, telematics and data, mechanical and electrical integration as well as after-sales and service.

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. The words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs, or current expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) the impact of the global COVID-19 pandemic on the global economy, our industry and markets as well as our business, (ii) risks related to our limited operating history, the rollout of our business and the timing of expected business milestones including our ability to complete the engineering of our vehicles and start of production on time and budget and risks related to future results of operation, (iii) risks related to our unproven ability to develop and produce vehicles and with expected or advertised specifications including range, and risks relating to required funding, (iv) risks related to our ability to monetize our solar technology, (v) risks relating to the uncertainty of the projected financial information with respect to our business including the conversion of reservations into binding orders, (vi) effects of competition and the pace and depth of electric vehicle adoption generally and our vehicles in particular on our future business and (vii) changes in regulatory requirements, governmental incentives and fuel and energy prices. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to factors discussed under the caption “Risk Factors” in our annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) on 19 April 2022 as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov and on our website at ir.sonomotors.com. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as the actions of regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

* Based on internal calculations, including weather and system efficiency assumptions.

Sono Motors Announces Closing of Follow-on Offering

2022-05-03T22:31:00+02:00

Munich, Germany – Sono Group N.V. (Nasdaq: SEV; “Sono Motors” or the “Company”) announced today the closing of its previously announced underwritten follow-on offering of ordinary shares, resulting in approximately $40 million of gross proceeds.

In connection with the offering, Sono Motors has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 ordinary shares at the public offering price, less underwriting discounts.

Sono Motors intends to use the net proceeds from this offering to cover some of the capital needed until the start of production of its solar electric vehicle, the Sion.

Berenberg, Cantor Fitzgerald & Co., and B. Riley Securities acted as book-running managers for the offering. Craig-Hallum and Wedbush Securities acted as co-managers for the offering.

A registration statement on Form F-1 relating to the shares being sold in this offering has been filed with the SEC and was declared effective on April 28, 2022. This offering was made only by means of a prospectus which, for the avoidance of doubt, will not constitute a “prospectus” for the purposes of the Regulation (EU) 2017/1129 (the Prospectus Regulation) and has not been reviewed by any competent authority in any member state in the European Economic Area. Copies of the prospectus may be obtained from: Berenberg Capital Markets LLC, Attention: Investment Banking, 1251 Avenue of the Americas, 53rd Floor, New York, NY 10020, or by telephone at +1 646 949 9000, or by email at prospectusrequests@berenberg-us.com, Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, New York, NY 10022, or by email at prospectus@cantor.com, and B. Riley Securities, Inc., Attention: Prospectus Department, 1300 17th Street North, Suite 1300, Arlington, Virginia 22209, or by telephone at +1 703 312 9580, or by email at prospectuses@brileyfin.com.

This press release is neither an offer to sell nor a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities law of any such state or jurisdiction. The securities have already been sold.

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. The words "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs, or current expectations, and include statements relating to the offering of ordinary shares by Sono Motors including intended use of proceeds, statements about Sono Motors' business including reservations, technology and production, and other non-historical statements. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) the impact of the global COVID-19 pandemic on the global economy, our industry and markets as well as our business, (ii) risks related to our limited operating history, the rollout of our business and the timing of expected business milestones including our ability to complete the engineering of our vehicles and start of production on time and budget and risks related to future results of operation, (iii) risks related to our unproven ability to develop and produce vehicles and with expected or advertised specifications including range, and risks relating to required funding, (iv) risks related to our ability to monetize our solar technology, (v) risks relating to the uncertainty of the projected financial information with respect to our business including the conversion of reservations into binding orders, (vi) effects of competition and the pace and depth of electric vehicle adoption generally and our vehicles in particular on our future business and (vii) changes in regulatory requirements, governmental incentives and fuel and energy prices. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov and on our website at ir.sonomotors.com. Many of the risks and uncertainties identified in these filings relate to factors that are beyond the Company's ability to control or estimate precisely, such as the actions of regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the Company assumes no obligation to update any such forward-looking statements.

Sono Motors Announces Pricing of Follow-on Offering

2022-04-29T07:30:00+02:00

Munich, Germany – Sono Group N.V. (Nasdaq: SEV; “Sono Motors” or the “Company”) announced today the pricing of its follow-on offering of 10,000,000 ordinary shares at a price to the public of $4.00 per share. In addition, Sono Motors has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 ordinary shares at the public offering price less underwriting discounts. The offering is expected to close on May 3, 2022, subject to customary closing conditions.

Sono Motors intends to use the net proceeds from this offering to cover some of the capital needed until the start of production of its solar electric vehicle, the Sion.

Berenberg, Cantor Fitzgerald & Co., and B. Riley Securities are acting as book-running managers for the offering. Craig-Hallum and Wedbush Securities are acting as co-managers for the offering.

A registration statement on Form F-1 relating to the shares being sold in this offering has been filed with the SEC and was declared effective on April 28, 2022. This offering is being made only by means of a prospectus which, for the avoidance of doubt, will not constitute a “prospectus” for the purposes of the Regulation (EU) 2017/1129 (the Prospectus Regulation) and has not been reviewed by any competent authority in any member state in the European Economic Area. Copies of the prospectus may be obtained from: Berenberg Capital Markets LLC, Attention: Investment Banking, 1251 Avenue of the Americas, 53rd Floor, New York, NY 10020, or by telephone at +1 646 949 9000, or by email at prospectusrequests@berenberg-us.com, Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, New York, NY 10022, or by email at prospectus@cantor.com, and B. Riley Securities, Inc., Attention: Prospectus Department, 1300 17th Street North, Suite 1300, Arlington, Virginia 22209, or by telephone at +1 703 312 9580, or by email at prospectuses@brileyfin.com.

This press release is being issued pursuant to Rule 134 under the Securities Act of 1933 and is neither an offer to sell nor a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities law of any such state or jurisdiction.

NOTICE TO PERSONS IN THE UNITED KINGDOM

In the United Kingdom, this press release is only directed at qualified investors (as defined in Regulation (EU) 2017/1129 as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018) who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.), or (iii) are persons to whom an invitation or inducement to engage in an investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise be lawfully communicated or caused to be communicated (all such persons together being referred to as “Relevant Persons”). This press release is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this press release relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

NOTICE TO PERSONS IN THE EEA

In relation to each member state of the European Economic Area, this press release is only directed at any person or entity that is a qualified investor as defined in Article 2(e) of Regulation (EU) 2017/1129 (all such persons together being referred to as “Qualified Investors”) and must not be acted on or relied on by persons who are not Qualified Investors. Any investment or investment activity to which this press release relates is available only to Qualified Investors and will be engaged in only with Qualified Investors.

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. The words "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs, or current expectations, and include statements relating to the offering of ordinary shares by Sono Motors including intended use of proceeds, statements about Sono Motors' business including reservations, technology and production, and other non-historical statements. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) the impact of the global COVID-19 pandemic on the global economy, our industry and markets as well as our business, (ii) risks related to our limited operating history, the rollout of our business and the timing of expected business milestones including our ability to complete the engineering of our vehicles and start of production on time and budget and risks related to future results of operation, (iii) risks related to our unproven ability to develop and produce vehicles and with expected or advertised specifications including range, and risks relating to required funding, (iv) risks related to our ability to monetize our solar technology, (v) risks relating to the uncertainty of the projected financial information with respect to our business including the conversion of reservations into binding orders, (vi) effects of competition and the pace and depth of electric vehicle adoption generally and our vehicles in particular on our future business and (vii) changes in regulatory requirements, governmental incentives and fuel and energy prices. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov and on our website at ir.sonomotors.com. Many of the risks and uncertainties identified in these filings relate to factors that are beyond the Company's ability to control or estimate precisely, such as the actions of regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the Company assumes no obligation to update any such forward-looking statements.

Sono Motors Announces Follow-on Offering

2022-04-26T22:10:00+02:00

Munich, Germany – Sono Group N.V. (Nasdaq: SEV; “Sono Motors” or the “Company”) announced today the launch of a proposed follow-on offering of 10,000,000 ordinary shares, all of which are being offered by the Company. In addition, Sono Motors expects to grant the underwriters an option, to purchase up to an additional 1,500,000 ordinary shares. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.

Sono Motors intends to use the net proceeds from this proposed offering to cover some of the capital needed until the start of production of its solar electric vehicle, the Sion.

Berenberg, Cantor Fitzgerald, and B. Riley Securities are acting as book-running managers for this proposed offering. Craig-Hallum and Wedbush Securities are acting as co-managers for this proposed offering.

A registration statement on Form F-1 relating to the proposed sale of these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This offering will be made only by means of a prospectus which, for the avoidance of doubt, will not constitute a “prospectus” for the purposes of the Regulation (EU) 2017/1129 (the Prospectus Regulation) and has not been reviewed by any competent authority in any member state in the European Economic Area. Copies of the preliminary prospectus, when available, may be obtained from: Berenberg Capital Markets LLC, Attention: Investment Banking, 1251 Avenue of the Americas, 53rd Floor, New York, NY 10020, or by telephone at +1 646 949 9000, or by email at prospectusrequests@berenberg-us.com, Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, New York, NY 10022, or by email at prospectus@cantor.com, and B. Riley Securities, Inc., Attention: Prospectus Department, 1300 17th Street North, Suite 1300, Arlington, Virginia 22209, or by telephone at +1 703 312 9580, or by email at prospectuses@brileyfin.com.

NOTICE TO PERSONS IN THE UNITED KINGDOM
In the United Kingdom, this press release is only directed at qualified investors (as defined in Regulation (EU) 2017/1129 as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018) who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.), or (iii) are persons to whom an invitation or inducement to engage in an investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise be lawfully communicated or caused to be communicated (all such persons together being referred to as “Relevant Persons”). This press release is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this press release relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

NOTICE TO PERSONS IN THE EEA
In relation to each member state of the European Economic Area, this press release is only directed at any person or entity that is a qualified investor as defined in Article 2(e) of Regulation (EU) 2017/1129 (all such persons together being referred to as “Qualified Investors”) and must not be acted on or relied on by persons who are not Qualified Investors. Any investment or investment activity to which this press release relates is available only to Qualified Investors and will be engaged in only with Qualified Investors.

FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements. The words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs, or current expectations, and include statements relating to the contemplated offering of ordinary shares by Sono Motors including intended use of proceeds, statements about Sono Motors' business including reservations, technology and production, and other non-historical statements. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) the impact of the global COVID-19 pandemic on the global economy, our industry and markets as well as our business, (ii) risks related to our limited operating history, the rollout of our business and the timing of expected business milestones including our ability to complete the engineering of our vehicles and start of production on time and budget and risks related to future results of operation, (iii) risks related to our unproven ability to develop and produce vehicles and with expected or advertised specifications including range, and risks relating to required funding, (iv) risks related to our ability to monetize our solar technology, (v) risks relating to the uncertainty of the projected financial information with respect to our business including the conversion of reservations into binding orders, (vi) effects of competition and the pace and depth of electric vehicle adoption generally and our vehicles in particular on our future business and (vii) changes in regulatory requirements, governmental incentives and fuel and energy prices. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov and on our website at ir.sonomotors.com. Many of the risks and uncertainties identified in these filings relate to factors that are beyond the Company's ability to control or estimate precisely, such as the actions of regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the Company assumes no obligation to update any such forward-looking statements.

Full Year 2021 Corporate Update: Sono Motors Solar Technology Delivered to Several Partners and Sion Production Capacity Secured

2022-04-19T13:30:00+02:00

Several B2B Projects for Solar Integration Delivered, Including Solar Buses for Public Transport in Q1 2022, Last Mile Delivery Truck and US RV Retailer in 2021.
Between 2021 and Q1 2022 Sono Solar B2B Partner Arrangements Increased From 2 to 17.
Signed a Contract Manufacturer With Years of Experience in Production for Premium OEMs, Which Will Provide Production Capacity for 257,000 Cars Within 7 Years.
As of 31 March 2022, Reservations for The Sion Solar Electric Vehicle (SEV) Totaled Over 17,000, With an Average Down Payment of €2,390 Net.
Development of the Sion Progressed as Planned With Building of a Series-Validation Vehicle Fleet, to Be Presented to the Public This Summer.
Sono Car Sharing App Launched in Germany.

Munich, 19 April 2022 – Sono Group N.V. (NASDAQ: SEV) (hereafter referred to as “Sono Motors” or the “Company”, parent company to “Sono Motors GmbH”), the company that aims to revolutionize the future of solar-powered transport, today announced its financial results for the financial year ended 31 December 2021.

“We have achieved major milestones on our growth path. We’re scaling up our Sono Solar business, have delivered several products to B2B customers in the last months, and thus generated first revenues. Our proprietary solar technology is already contributing to climate protection and the reduction of CO2 emissions on Munich public transport and supporting the city’s clean air targets. These examples showcase our plan to diversify our business by establishing our B2B solar business as a strategic pillar, equal to our solar electric vehicle, the Sion,” states Laurin Hahn, CEO and co-founder of Sono Motors.

“This year we also have a clear focus on enhancing the quality, testing, and speed of the Sion program. We are now well into the series-validation phase and progressing with vehicle testing and certification. Our collaborative working with our new contract manufacturer positions us well to keep our promise and deliver a climate-neutral Sion to our customers next year,” Hahn adds.

2021 Business Highlights

Grew B2B solar integration client base, with more contracts and offers from various OEMs and fleet owners across various transportation sectors. In Q4 2021, we delivered our first solar-powered light-electric vehicle prototype to ARI Motors and installed the first RV solar retrofit for a client in the U.S.
Opened our dedicated development center for the B2B solar business. Specialists use bespoke equipment and test facilities to enhance speed for all solar projects.
Launched Gen 2 prototypes at CES and used those vehicles for intensive development, the completion of first winter & summer tests, continued engineering and over 1,000 customer test drives, bringing the total test drive number to more than 18,000 customers so far.
The vast majority of Sion sourcing decisions were made by year-end 2021.
The launch of the Sono app on 6 December 2021 enabled Sono Motors to expand its app beyond the Sion. The aim is to gather more data and customer feedback for incremental development of the service. Sono Motors provides an in-app booking and payment system as well as additional insurance if required. The app allows users in Germany to share their car - not just the Sion - via community car sharing with friends, family, and neighbors.
By the end of 2021, 231 people of over 30 different nationalities were employed at Sono Motors. This represents an approximate team size increase of 120% over the year. This number increased to 267 people by the end of Q1 2022.

Recent Updates

Sono Motors delivered its innovative solar technology to several customers including Munich’s public transport provider MVG. Our solar bus retrofit solution can reduce local CO2 emissions by over 6.5 metric tons per year, per vehicle. Further benefits include fuel savings of up to 2,500 liters of diesel per vehicle, per year, the stabilization of energy supply, the extension of the 24V battery life, and reduced maintenance costs.
Increased solar integration B2B partner arrangements to 17 by 31 March 2022, compared to 2 at the start of 2021.
Signed binding term sheet with Valmet Automotive as an experienced contract manufacturer for the Sion. As of today, Valmet Automotive has produced over 1.7 million cars for brands like Mercedes, Porsche, and SAAB. Valmet Automotive will build the Sion at its plant in Uusikaupunki, Finland, and will provide the capacity to produce 257,000 vehicles over a seven-year period. This cooperation marks another milestone toward delivering the Sion to our growing Community.
Build of a fleet of 37 series-validation vehicles and Bodies in White is currently underway, ushering in the Sion's testing program. These cars consist of series components and correspond to the planned final design. This was established in Q1 2022, alongside completing the 2nd generation prototype program, as well as the accompanying definition of components and vehicle parameters. The fleet will be used for series validation, optimization, homologation, and crash tests.
Significant progress has been made on Sion’s User Interface and User Experience Design (UI/UX) by integrating payment processes, insurance booking and Salesforce, Google, and SAP within the backend infrastructure for a fully digital customer experience.
ESG activities include progress towards offsetting activity-based value chain emissions, and our participation in the Time for Climate Action campaign prior to Earth Day on 22 April 2022, and our first full year (2021) of operations with first local impacts within the Fair Cobalt Association.

Financial Highlights

Commenced monetizing the proprietary solar technology – several public transport buses have been equipped. Retrofitting of a boat and refrigeration trucks is ongoing.
Sono Motors amassed over 16,700 direct consumer reservations by year-end 2021. Reservations increased by nearly 4,000 in 2021, equivalent to a 31% y-o-y increase.
As of 31 March 2022, the Sion has over 17,000 reservations with an average down payment of €2,390 net and equivalent net sales volume of € 368 million, assuming that all reservations result in sales.
Cash and cash equivalents of €132.9 million as of 31 December 2021, demonstrating an increase of 206.9% compared to year-end 2020 (€43.3 million).
Loss from operations totaled €59.2 million (2020: €53.9 million). Net loss totaled €63.9 million and €1.07 loss per share (2020: €56.0 million and €0.97).
€16 thousand revenues generated, thereof €11 thousand from integrating our proprietary solar technology.
OpEx increased mainly due to intensified development of prototypes and general company growth.
Cash in the bank increased by €90 million in 2021, mainly driven by IPO (cash-in of €142 million).
Increase of €4 million in advance payments received from customers.

Conference Call Information

Sono Motors will host a webcast for analysts on this occasion at 8:00 a.m. Eastern Time (2:00 p.m. CET) today, 19 April 2022. The live audio webcast and supplementary information will be accessible on Sono Motors’ IR website at https://ir.sonomotors.com/. A replay of the webcast will also be available.

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. The words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs, or current expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) the impact of the global COVID-19 pandemic on the global economy, our industry and markets as well as our business, (ii) risks related to our limited operating history, the rollout of our business and the timing of expected business milestones including our ability to complete the engineering of our vehicles and start of production on time and budget and risks related to future results of operation, (iii) risks related to our unproven ability to develop and produce vehicles and with expected or advertised specifications including range, and risks relating to required funding, (iv) risks related to our ability to monetize our solar technology, (v) risks relating to the uncertainty of the projected financial information with respect to our business including the conversion of reservations into binding orders, (vi) effects of competition and the pace and depth of electric vehicle adoption generally and our vehicles in particular on our future business and (vii) changes in regulatory requirements, governmental incentives and fuel and energy prices. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to factors discussed under the caption “Risk Factors” in our final prospectus under Rule 424(b) filed with the U.S. Securities and Exchange Commission (“SEC”) on November 18, 2021 in connection with our initial public offering as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov and on our website at ir.sonomotors.com. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as the actions of regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

New Partnership – Sono Motors to Produce Sion Solar Electric Vehicle at Valmet Automotive

2022-04-05T14:00:00+02:00

Sono Motors and Valmet Automotive Announce the Signing of a Term Sheet Concerning the Production of the Sion Solar Electric Vehicle (SEV) At Valmet Automotive’s Production Line in Uusikaupunki, Finland.
The Contract Manufacturer, With Long Experience in Production for Premium OEMs, Will Provide Production Capacity for 257,000 Cars Within 7 Years.
Start of Production Planned for the Second Half of 2023.
Funding Needs Increase.
Due to Increased Manufacturing Costs, the Sion Will Be Priced at €25,126 Net in the Future. The New Price Will Be Valid From 18,500 Reservations Onwards. All Existing Reservations Remain Priced as Before.
Valmet Automotive Is One of the World’s Most Sustainable Contract Manufacturers and Certified Carbon-Neutral as of 1 January 2022.
Sono Motor’s Munich Headquarters Continues to Be the Sole Development Hub for Sono Solar Technology

Munich, Germany / Uusikaupunki, Finland, 5 April 2022 – Sono Motors (subsidiary to “Sono Group N.V.”, NASDAQ: SEV) and Valmet Automotive today announced the signing of a binding term sheet, specifying all substantial parameters regarding the collaboration and the production of the Sion solar electric vehicle (SEV). The Finnish contract manufacturer will produce the Sion at its plant in Uusikaupunki. Valmet Automotive will provide the capacity to produce more than 257,000 vehicles over a seven-year period.

“The cooperation marks another milestone towards delivering the Sion to our growing Community. We are convinced that collaborating with such a reliable and experienced partner is an excellent match for bringing the Sion to the streets, while securing high quality standards. We value Valmet Automotive's experience in manufacturing premium automobiles and their proven track record in electro mobility,” says Laurin Hahn, CEO and co-founder of Sono Motors. “Together we are well positioned to keep our promise and deliver a climate-neutral Sion to our customers.”

“The cooperation with Sono Motors is a perfect fit with Valmet Automotive’s strategy, capabilities, and sustainable approach in all operations. We have been pioneers in electric vehicle manufacturing since 2009, and the innovative solar electric Sion will take us to the next level as the first high-volume, fully electric vehicle to be produced in the Uusikaupunki plant. In the rapidly changing automotive industry, Sono Motors is a leading exponent. We are looking forward to supporting Sono Motors in their electromobility targets,” says Olaf Bongwald, CEO, Valmet Automotive.

The Partnership Aims to Produce 43,000 Vehicles Per Year

Valmet Automotive started car manufacturing in 1968 as a joint venture with Saab. Since then, the company built more than 1.7 million cars as a contract manufacturer for some of the world's leading OEMs. General price increases, the switch to Valmet Automotive and the development of new production lines will lead to increased funding needs of at least €275 million (including expected cash inflow from advance payments from reservations) by the start of production (SOP) in the second half of 2023. The Valmet Automotive facilities in Uusikaupunki allow for the production of a low four-digit volume in 2023, which will be followed by a ramp-up period. After this period, which will likely take a few months, the partners aim to produce approximately 43,000 Sion a year, using one hundred percent renewable energy. Sono Motors currently expects that all production-related greenhouse gas emissions that cannot be avoided along its supply chain, or during the production process of the vehicles, will be fully offset through relevant measures. Valmet Automotive is one of the world’s most sustainable contract manufacturers and is certified as carbon neutral as of 1 January 2022.

Adjusted Prices for New Customers Due to Market Development

As of 31 March 2022, the Sion has over 17,000 direct consumer reservations with an average down payment of €2,390 net. Currently priced at €23,950 net, the company is planning to increase the car’s estimated net price before taxes and subsidies to €25,126 (€29,900 including German VAT) when the reservation number has reached 18,500. Sono Motors is thereby reacting to the latest increase in manufacturing costs, due to higher prices for production facilities and supplier components as well as raw materials, energy, and logistics, whilst keeping current promised net reservation prices fixed. “By adapting our pricing according to the current economic environment, we are able to reflect our increased costs while continuing to offer our customers a completely sustainable SEV at a very attractive price.” says Thomas Hausch, Chief Operating Officer at Sono Motors.

Sono Motors is currently building a fleet of series-validation vehicles in Germany closer to the company’s HQ, ushering in the Sion's testing program. The outer shell of this family-friendly car will consist of 456 seamlessly integrated solar half-cells and will enable self-sufficiency on short journeys. The energy generated by the solar cells will extend the estimated 305 km range of the Sion's 54 kWh LFP battery by an average of 112 km (up to 245 km) per week. Commuters in metropolitan areas will have to charge their Sion up to four times less than conventional electric cars of the same vehicle class with a similar battery size. Bidirectional charging technology complements the car’s solar integration and is designed to turn the Sion into a sustainable power plant on wheels that will be able to power electronic devices, the home or other electric cars with an output of up to 11 kW.

ABOUT VALMET AUTOMOTIVE
The Valmet Automotive Group is one of the largest vehicle contract manufacturers in the world, Tier 1 systems supplier for convertible roof and kinematic systems and for battery systems. In its strategic development, Valmet Automotive Group focuses on electromobility with the development and manufacturing of battery modules as well as packs for electrified vehicles. The activities in the group are organized in three business lines: Manufacturing, EV Systems and Roof & Kinematic Systems. Since its founding in 1968, Valmet Automotive has produced more than 1.7 million vehicles at the Uusikaupunki, Finland plant. In Salo, near the Uusikaupunki plant, Valmet Automotive opened its first volume production of battery systems for the automotive industry in autumn 2019. The company has locations in Finland, Germany, and Poland. Valmet Automotive’s largest shareholders are state-owned Finnish investment company Tesi and the Pontos Group, each with a stake of 38.46 %. 23.08 % is held by the Chinese Contemporary Amperex Technology Limited (CATL), the world leading manufacturer of battery cells for electric vehicles.

FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements. The words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs, or current expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) the impact of the global COVID-19 pandemic on the global economy, our industry and markets as well as our business, (ii) risks related to our limited operating history, the rollout of our business and the timing of expected business milestones including our ability to complete the engineering of our vehicles and start of production on time and budget and risks related to future results of operation, (iii) risks related to our unproven ability to develop and produce vehicles and with expected or advertised specifications including range, and risks relating to required funding, (iv) risks related to our ability to monetize our solar technology, (v) risks relating to the uncertainty of the projected financial information with respect to our business including the conversion of reservations into binding orders, (vi) effects of competition and the pace and depth of electric vehicle adoption generally and our vehicles in particular on our future business and (vii) changes in regulatory requirements, governmental incentives and fuel and energy prices. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to factors discussed under the caption “Risk Factors” in our final prospectus under Rule 424(b) filed with the U.S. Securities and Exchange Commission (“SEC”) on November 18, 2021 in connection with our initial public offering as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov and on our website at ir.sonomotors.com. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as the actions of regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

Photocredit drone shot: © Lentokuva Vallas Oy

Sono Motors Technology Used for Munich’s First Solar Bus — MVG to Put Solar Bus Trailer Into Operation

2022-03-31T14:00:00+02:00

Sono Motors Innovative Solar Technology for Buses Is Used in Real Conditions in Munich for the First Time
Solar Bus Trailer for the Münchner Verkehrsgesellschaft (Munich Transport Company, MVG) to Reduce Local CO2 Emissions by Over 6.5 Metric Tonnes per Year per Vehicle, Thus Supporting the City of Munich’s Clean Air Targets
Further Benefits Include Fuel Savings of up to 2,500 Liters of Diesel per Year, Stabilization of Energy Supply and Extension of the 24V Battery Life, as Well as Reduced Maintenance Costs
20 Semi-Flexible Special Solar Panels Provide a Total Output of Over 2,000 Watts
Sono Motors and the MVG Present the Novel Solar Bus Trailer Alongside Munich’s Vice Mayor Katrin Habenschaden

31 March 2022 – Sono Motors, the company that aims to revolutionize the future of solar-powered transport, is launching its proprietary solar technology to public transport for the first time in partnership with the Münchner Verkehrsgesellschaft (Munich Transport Company, MVG). The novel solar bus trailer will hit the roads in the Munich metropolitan area in the near future, testing the energy yields as well as the potential of the technology in daily operation. Offering possible savings of up to 2,500 liters of diesel per year and an annual local CO2 saving potential of more than 6.5 metric tonnes per bus, Sono Solar Technology contributes to climate protection and the reduction of inner-city greenhouse gas emissions.

20 semi-flexible special photovoltaic (PV) modules provide over 2,000 watts to power the vehicle’s battery and electrical loads such as heating, ventilation, and air conditioning, as well as the trailer’s steering system.

“The partnership with MVG illustrates the enormous potential of our unique solar technology, which is now being used for the first time in the company's history on public transport. This is a milestone in Sono Motors’ mission to make every vehicle solar”, says Laurin Hahn, Sono Motors co-founder and CEO. “Especially in times of rising energy prices and increasing urban area emission regulations, our solar technology offers great added value for public transport operators. City buses and coaches, whether electric or diesel-powered, offer a lot of space and are out on the road every day. The first solar bus trailer for MVG will hit the streets of Munich in the future and allow MVG passengers to experience solar mobility in daily use,” Hahn continues.

High CO2 Saving Potential Thanks to Powerful Solar Technology

The CO2 saving potential of solar-powered vehicles and their contribution to urban air pollution control and climate protections are promising. For a medium-sized fleet of around 300 buses, calculations show the possibility of savings of up to 2,000 metric tonnes of CO2 per year. Further increases are conceivable in the future, as both the solar cells and the power electronics are expected to become more efficient. This solar solution’s so-called ‘CO2 backpack’, i.e., emissions caused in production, amounts to a one-off of approximately 1.5 metric tonnes of CO2 per bus or bus trailer and could be offset after a short runtime of just less than one year.

Over 2,000 Watts of Power to Improve the Energy Balance

The solar technology was developed and tested specifically for use on buses. The concept for the customized solar bus trailer was developed in collaboration with MVG to ensure maximum space utilization and efficiency. In addition to the robust solar installation, which is optimized for vehicle integration, this also includes electrical integration by means of the power electronics developed by Sono Motors (MPPT central unit), called MCU. The solar charge controller has an intelligent algorithm that optimizes the PV modules’ energy yields.

Due to the ultra-fast optimization in the millisecond range and the multi-channel system, the PV yields can be transferred to the battery of the bus in the best possible way. The modules cover a total area of twelve square meters and supply the 24 V battery with over 2,000 watts. In this case, the solar energy generated in this way is used to operate the HVAC system (heating, ventilation, air conditioning) and to support the trailer steering system. In addition to saving diesel, the additional electricity ensures the stabilization of the battery's energy supply, thus extending its service life and reducing maintenance costs. The energy generated can be monitored online using the integrated software.

Veit Bodenschatz, Managing Director and Head of Bus Division of the MVG says, "the photovoltaic system on our bus trailer now allows us to test under real conditions how well the power generation works and whether there are perhaps routes in our network that are better suited than others for this type of power generation. The question of what energy savings can be achieved by using solar energy are, of course, particularly exciting against the background of current fuel and energy prices".

Range Extension for E-Buses Possible

Sono Motors' patented solar technology has been developed so that it can be integrated and licensed into a wide range of vehicles. "When e-buses are factory-equipped with our solar technology, additional range can immediately be generated through solar energy on the roof and sides. This not only reduces the standstill times for charging processes, but also protects the battery through a constant charging process. As a result, the e-bus can be operated longer," explains Hahn.

Presentation of the Solar Bus Alongside Munich Vice Mayor Katrin Habenschaden

Munich's vice mayor, Katrin Habenschaden, was a guest at the presentation and press conference on 31 March at MVG's west depot in Munich Laim.

Katrin Habenschaden, “We need a change of course in the transport sector. Transport still misses the climate protection targets by a very wide margin, and this also has a direct impact on air quality in Munich. The solar buses can be a cornerstone in this urgently needed change towards climate-friendly mobility. I am convinced by the idea, as a lot of fuel can be saved here, and CO2 emissions can be significantly reduced. We are already working with MVG to completely convert our bus fleet to electric drives. Harnessing the power of the sun is of course even more sustainable and I hope that this pilot project will show that we can also extend the range of the e-buses using solar energy. I am particularly pleased about this cooperation with our MVG that such an innovative idea comes from a Munich-based company."

After technical approval by supervisory authorities, the bus trailer will go into regular service and be experienced by all Munich residents.

Sono Motors has already signed more than ten LOIs and contracts with companies such as MAN, easymile or ARI Motors since the beginning of 2021. The Sono Solar complete solution includes a customized concept including solar modules, power electronics, telematics and data, mechanical and electrical integration as well as after-sales and service. The technology is suitable for integration into existing vehicles as well as production-ready development and integration into new vehicles during the production phase.

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. The words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs, or current expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) the impact of the global COVID-19 pandemic on the global economy, our industry and markets as well as our business, (ii) risks related to our limited operating history, the rollout of our business and the timing of expected business milestones including our ability to complete the engineering of our vehicles and start of production on time and budget and risks related to future results of operation, (iii) risks related to our unproven ability to develop and produce vehicles and with expected or advertised specifications including range, and risks relating to required funding, (iv) risks related to our ability to monetize our solar technology, (v) risks relating to the uncertainty of the projected financial information with respect to our business including the conversion of reservations into binding orders, (vi) effects of competition and the pace and depth of electric vehicle adoption generally and our vehicles in particular on our future business and (vii) changes in regulatory requirements, governmental incentives and fuel and energy prices. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to factors discussed under the caption “Risk Factors” in our final prospectus under Rule 424(b) filed with the U.S. Securities and Exchange Commission (“SEC”) on November 18, 2021 in connection with our initial public offering as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov and on our website at ir.sonomotors.com. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as the actions of regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

Sono Motors Enters Series-Validation Phase

2022-03-14T14:20:00+01:00

Components, Vehicle Parameters and the Final Sion Design Have Been Defined
On Track With the Ongoing Construction of 37 Sion Series-Validation Vehicles and Bodies in White
Vehicles Serve to Further Test, Validate and Certify the Sion, as Well as Optimize Sono Solar Technology
The Completion of This Test Fleet in Summer 2022 Sets Sono Motors on Course for Planned Series Production Next Year

14 March 2022 – Sono Motors, the company that aims to revolutionize the future of solar-powered transport, is currently building a fleet of series-validation vehicles, ushering in the Sion's testing program. These cars consist of series components and correspond to the planned final design, which was established at the beginning of the year (2022) alongside completion of the 2nd generation prototype program and the accompanying definition of components as well as vehicle parameters.

In the coming months Sono Motors will be undertaking testing, validation and certification of the Sion, until the first affordable solar electric vehicle (SEV) for the masses rolls off the production line, expected next year. The test cars will undergo uncompromising practical tests under extreme conditions in Europe and the U.S. This includes testing in different climates, optimizing our solar technology and safeguarding, as well as refining driving dynamics on test tracks and on public roads in addition to crash tests.

“The start of the series testing phase is yet another step on our way to climate-friendly mobility of the future. Getting from the first concept in a garage to this point was only possible with hundreds of engineers working tirelessly every day on both the Sion and our Sono Solar technology. The fleet of validation vehicles now follows our successful 2nd generation prototype program and paves the way for planned series production next year” says Jona Christians, CEO and co-founder of Sono Motors. The fleet of 37 vehicles (generation 3) consists of 16 complete cars and 21 test structures. The public debut for the Sion’s final design is planned for the summer of 2022. Then some of the series-validation vehicles will most likely additionally go on a Europe-wide test drive tour.

Sono Motors will be supported by thyssenkrupp Automotive Body Solutions and Betrandt in series-validation vehicle production. Markus Volmer, CTO of Sono Motors says, "both partners have not only extensive expertise in automotive engineering but also the necessary infrastructure and capacity to produce our test cars quickly and with high quality. Thus, we are on track for the Sion testing." As an expert in integrated body construction solutions, thyssenkrupp Automotive Body Solutions is responsible for the production of the aluminum space frame. Bertrandt impresses with decades of experience in the field of integrated vehicle development and is responsible for the assembly of the Sion test fleet in Munich.

At an estimated sales price point of just 28,500 euros gross, the Sion will be the first affordable SEV. The outer shell of this family-friendly car will consist of 456 seamlessly integrated solar half-cells and will enable self-sufficiency on short journeys. The energy generated by the solar cells will extend the range of the Sion's 54-kWh LFP battery by an average of 112 km (up to 245 km) per week. Commuters in metropolitan areas thus ideally have to charge their Sion four times less than conventional electric cars of the same vehicle class with a similar battery size. Bidirectional charging technology complements the car’s solar integration and is designed to turn the Sion into a sustainable power plant on wheels that will be able to power electronic devices, the home or other electric cars with an output of up to 11kW.

FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements. The words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs, or current expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) the impact of the global COVID-19 pandemic on the global economy, our industry and markets as well as our business, (ii) risks related to our limited operating history, the rollout of our business and the timing of expected business milestones including our ability to complete the engineering of our vehicles and start of production on time and budget and risks related to future results of operation, (iii) risks related to our unproven ability to develop and produce vehicles and with expected or advertised specifications including range, and risks relating to required funding, (iv) risks related to our ability to monetize our solar technology, (v) risks relating to the uncertainty of the projected financial information with respect to our business including the conversion of reservations into binding orders, (vi) effects of competition and the pace and depth of electric vehicle adoption generally and our vehicles in particular on our future business and (vii) changes in regulatory requirements, governmental incentives and fuel and energy prices. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to factors discussed under the caption “Risk Factors” in our final prospectus under Rule 424(b) filed with the U.S. Securities and Exchange Commission (“SEC”) on November 18, 2021 in connection with our initial public offering as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov and on our website at ir.sonomotors.com. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as the actions of regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

Sono Motors Introduces Supervisory Board

2021-11-25T10:00:00+01:00

In Addition to Automotive and Financial Experts, the Five-Member Supervisory Board Is Made up of Community and Employee Representatives
Wilko Stark Takes Over as Chair of the Supervisory Board. Martina Buchhauser Becomes Vice-Chair

Munich, Germany – 25 November 2021 – Sono Motors, the company that aims to revolutionize the future of solar-powered transport, today introduced the members of its Supervisory Board. The recently listed company’s five-member supervisory board includes independent automotive and financial experts as well as Community and employee representatives. In addition to the Chair Wilko Stark and Vice-Chair Martina Buchhauser, Robert Jeffe, Sebastian Böttger and Johannes Trischler join the Sono Motors’ supervisory board.

“By going public, we have come even closer to our goal of equipping every vehicle with solar and delivering the Sion to our Community. Our board of international industry experts and representatives of our key stakeholders — our Community — will help us achieve our mission,” says Jona Christians, CEO and Sono Motors Co-Founder. “We have appointed proven experts to our supervisory board who also have strong expertise in the areas of mobility, automotive, digitalization and corporate governance. We are pleased to have the supervisory board at our side as we take our next big step and move Sono Motors forward as a leader in the field of solar mobility.”

Wilko Stark: former member of the Divisional Board of Management Mercedes-Benz Cars, Purchasing and Supplier Quality, former Product Strategy Lead, VW AG
Martina Buchhauser: former Chief Procurement Officer and management board member, Volvo Cars
Robert Jeffe: Director and Chair of the Audit Committee, Associated Bank Corp as well as Senior Partner at BlackWatch Advisors LLC
Sebastian Böttger: Founder and CEO, NeLeSo GmbH, Community representative
Johannes Trischler: Senior Legal Counsel, Sono Motors GmbH, employee representative

“It is a huge privilege to be the chair of the Sono Motors’ supervisory board at this exciting time and to be an active part of their vision” says Wilko Stark. “I truly believe in Sono Motors’ mission,” adds Vice-Chair Martina Buchhauser. “I am very much looking forward to supporting the team with my experience in making sustainable and innovative mobility accessible to all.”

Board member biographies can be found here.

FORWARD-LOOKING STATEMENTS

Sono Motors Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares

2021-11-19T23:00:00+01:00

Sono Group N.V. (NASDAQ: SEV) (parent company to “Sono Motors GmbH”, “Sono Motors” or the “Company”) announced today the closing of its initial public offering of an aggregate of 11,500,000 common shares at a price to the public of $15.00 per share, including the full exercise by the underwriters of their option to purchase up to 1,500,000 additional common shares. The net proceeds from the offering to the Company, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company, were approximately $156.1 million.

The common shares began trading on the Nasdaq Global Market under the symbol "SEV" on November 17, 2021.

Berenberg acted as sole global coordinator for the proposed offering. Craig-Hallum acted as co-manager for the proposed offering.

A registration statement on Form F-1 relating to these securities was previously filed with the SEC (File Number: 333-260432) and declared effective by the SEC on November 16, 2021. Copies of the registration statement can be accessed by visiting the SEC website at www.sec.gov. This offering was made only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained from: Berenberg Capital Markets LLC, Attention: Investment Banking, 1251 Avenue of the Americas, 53rd Floor, New York, NY 10020, or by telephone at +1 646 949 9000, or by email at prospectusrequests@berenberg-us.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

FORWARD-LOOKING STATEMENTS

Sono Motors IPO: SEV Starts Trading on Nasdaq

2021-11-17T18:00:00+01:00

Sono Group N.V. (NASDAQ: SEV) (parent company to “Sono Motors GmbH”, “Sono Motors” or the “Company”), the Company that seeks to revolutionize the future of solar-powered transportation, today celebrates its first day of trading on the Nasdaq Global Market under the ticker symbol “SEV”.

A pioneer and technological leader in the field of solar-powered electric mobility, Sono Motors continues to pursue its mission to incorporate solar on every vehicle. The Company is starting to monetize its proprietary solar technology for integration into different types of vehicles, including buses, trucks, camper vans, trains, and even boats, thereby furthering its ambition to reduce carbon emissions and to provide clean and affordable transportation for the masses. Their solar electric vehicle (SEV), the Sion, aims to blend innovative solar technology with affordability to enable individual contribution to global sustainability.

The Sono Motors leadership team will commemorate the Company’s listing by ringing the Nasdaq Opening Bell on Thursday 18 November 2021.

Berenberg is acting as sole global coordinator for the proposed offering. Craig-Hallum will act as co-manager for the proposed offering.

FORWARD-LOOKING STATEMENTS

Sono Motors Announces Pricing of Initial Public Offering

2021-11-17T04:39:00+01:00

Sono Group N.V. (parent company to “Sono Motors GmbH”, “Sono Motors” or the “Company”) announces the pricing of its initial public offering of 10,000,000 common shares at a price to the public of $15.00 per share. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 common shares at the initial public offering price. The common shares are expected to begin trading on the Nasdaq Global Market on November 17, 2021, under the ticker symbol “SEV”. The offering is expected to close on November 19, 2021, subject to customary closing conditions.

Berenberg is acting as sole global coordinator for the proposed offering. Craig-Hallum is acting as co-manager for the proposed offering.

A registration statement on Form F-1 relating to the shares being sold in this offering has been filed with the Securities and Exchange Commission and was declared effective on November 16, 2021. The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained from Berenberg Capital Markets LLC, Attention: Investment Banking, 1251 Avenue of the Americas, 53rd Floor, New York, NY 10020, or by telephone at +1 646 949 9000, or by email at prospectusrequests@berenberg-us.com.

This press release is being issued pursuant to Rule 134 under the U.S. Securities Act, and is neither an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities law of any such state or jurisdiction.

UK FINANCIAL PROMOTION LEGEND

In the United Kingdom, this press release is only directed at persons who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.), or (iii) are persons to whom an invitation or inducement to engage in an investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise be lawfully communicated or caused to be communicated (all such persons together being referred to as “Relevant Persons”). This press release is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this press release relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

EEA LEGEND

FORWARD-LOOKING STATEMENTS

Sono Motors Announces Launch of Initial Public Offering

2021-11-08T14:30:00+01:00

Sono Group N.V. (parent company to “Sono Motors GmbH”, “Sono Motors” or the “Company”) today announced that it has commenced an initial public offering of 10,000,000 common shares. The initial public offering price is expected to be between $14.00 and $16.00 per share. The Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 common shares at the initial public offering price. The common shares are expected to trade on the Nasdaq Global Market under the ticker symbol “SEV”.

Berenberg is acting as global coordinator for the proposed offering. Craig-Hallum will act as co-manager for the proposed offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: Berenberg Capital Markets LLC, Attention: Investment Banking, 1251 Avenue of the Americas, 53rd Floor, New York, NY 10020, or by telephone at +1 646 949 9000, or by email at prospectusrequests@berenberg-us.com.

UK FINANCIAL PROMOTION LEGEND

EEA LEGEND

FORWARD-LOOKING STATEMENTS

This press release may include forward-looking statements. The words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project", "target" and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Company's results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which the Company operates. The forward-looking statements in this press release are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of regulators and other factors such as the Company's ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions. In particular, the Company may determine not to conduct a registered initial public offering in the time frame that it currently expects or at all, due to a number of potential important factors, including conditions in the U.S. capital markets, negative global economic conditions, potential negative developments in the Company’s business, or unfavorable or regulatory developments. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

Sono Motors Reaches 15,000 Reservations

2021-10-28T15:00:00+02:00

To Date, Munich-Based Mobility Provider Sono Motors Has Received Over 15,000 Direct Consumer Reservations, With an Average Down Payment of $3,300
Reservations for the Sion, the World’s First Solar Electric Vehicle (SEV) For the Masses, Correspond To a Total Order Value of $385 Million (€321 Mio.)
In Addition to Many German Reservations, the Company Has Received Further European Reservations

28 October 2021 – Sono Motors - the German solar mobility provider - has announced the achievement of reaching 15,000 private reservations of its Sion, the world’s first solar electric vehicle (SEV) for the masses, with an average down-payment of $3,300. Even prior to the commencement of production, the company has booked a total order value of $385 million. Currently priced at $25,600 net (€21,400), Sono Motors is planning to increase the net price of the Sion to $28,700 (€23,900) either on 15 November or when the reservation number has reached 16,000 - depending on which occurs earlier.

Pre-orders of the Sion continue to be predominantly placed in Germany and the rest of the DACH (Germany, Austria and Switzerland) region, but the company is also registering increasing numbers from countries such as France, the Netherlands, Italy, Spain and Portugal.

Sono Motors Files Registration Statement for Proposed Initial Public Offering

2021-10-22T21:15:00+02:00

Sono Group N.V. (parent company to “Sono Motors GmbH”, “Sono Motors” or the “Company”) today announced that it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (the “SEC”) for an initial public offering (IPO) for its common shares. The amount of shares to be offered and the price range for the proposed offering have not yet been determined. Sono Motors intends to list its common shares on the Nasdaq Global Market under the ticker symbol “SEV”.

The offering is subject to market conditions, and there can be no assurance as to whether, or when, the offering may be completed or as to the actual size or terms of the offering.

Berenberg is acting as global coordinator for the proposed offering. Craig-Hallum will act as co-manager for the proposed offering.

This press release is being issued pursuant to Rule 134 under the Securities Act, and is neither an offer to sell nor the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

UK FINANCIAL PROMOTION LEGEND

EEA LEGEND

FORWARD-LOOKING STATEMENTS

Sono Motors Presents Light Electric Vehicle ARI Motors Prototype With Solar Integration at the Intersolar Exhibition

2021-10-06T07:00:00+02:00

First Light Electric Vehicle Prototype From ARI Motors With Solar Integration Premieres at the Intersolar Exhibition From 6-8 October in Munich
The Solar Integration on the Cargo Box of the Prototype Will Be Providing up to 450 Watts Peak, Enabling a Range Extension of 20 km on Average per Day
Another Premiere: Sono Motors Signs First LOI With a Maritime Boat OEM, Wallaby Boats

6 October 2021 – Munich-based solar mobility provider Sono Motors has presented its newest solar prototype together with ARI Motors at the Intersolar exhibition, Europe’s largest solar exhibition. Sono Motors has installed PV technology on the so-called “ARI 458 Kofferaufbau, L”, a light electric vehicle designed for last-mile delivery and urban transportation in cities, parks, industrial areas or airports. Five photovoltaic (PV) modules made of ultra-thin, chemically-stressed front glass will provide up to 450 watts of energy at peak performance to provide power to the vehicle. The solar integration will give the vehicle a daily average of 20 km of additional range under normal weather conditions in Munich, and up to 48 km at peak weather conditions in summer months.

“Sono Solar - Sono Motors’ B2B unit - is a one-stop-shop for vehicle integrated photovoltaics (ViPV) and our aim is to make every vehicle a solar vehicle. The Intersolar exhibition is the perfect platform to show our proprietary technology and services and we are very pleased to be able to present existing partnerships and prototypes like the electric ARI transporter,” says Mathieu Baudrit, Sono Solar Group Lead at Sono Motors. “This is especially exciting for us, as this is one of the first commercial vehicles in this segment on the streets with our solar integration,” Baudrit adds.
Sono Motors offers both vehicle integrated photovoltaics (ViPV) and vehicle applied photovoltaics (VaPV) solutions to various modes of transportation. ViPV is the process in which solar energy generation is integrated into a vehicle's body. PV panels are incorporated into parts of the vehicle such as the sides, body panels and fenestration.

For the cooperation with ARI Motors, the design of the first prototype involves applying PV technology to an existing vehicle. Thus, the VaPV process is used. The five PV modules with 54 solar cells and 90 half cells are applied onto the vehicle’s roof and sides. The whole integration is designed for high efficiency. Therefore, Sono Motors will provide customized PV panels, design the integration layout as well as perform mechanical and electrical integration with their team of engineers in Munich and offer maintenance.

“The solar integration solutions provided by Sono Motors are the perfect fit for our light vehicle box as it enables us to reduce the vehicle’s dependency on charging infrastructure as well as extend its range and reduce costs. We look forward to working with Sono Motors in the future to make our vehicles even more sustainable,” says Thomas Kuwatsch, CFO of ARI Motors.

First LOI Signed With Maritime OEM
Sono Motors also announced a LOI to collaborate with Wallaby Boats GmbH, a commercial boat OEM, to install PV onto their boat “Wallaby 18” which transports personnel and material for offshore windparks. "The company's values around reducing fuel consumption and promoting greener commercial boats are a great fit for Sono Motors' first maritime OEM project,” Baudrit says. PV modules will be installed to provide up to 5,200 Wp of power to the boat. "This collaboration further advances Sono's 'solar on every vehicle' goal and is a clear demonstration of the multiple applications of the company's proprietary solar technology,” Baudrit adds.

Sono Motors Is Exhibitor at Intersolar Exhibition in Munich
Sono Motors will display the ARI Motors prototype as well as its leading solar vehicle integration technology at the intersolar exhibition from 6-8 October 2021, Hall A6, booth 551 – including the whole ecosystem like power electronics and software integration. The proprietary Sono Solar technology can either be integrated on existing vehicles or on new vehicles in production. It facilitates reduction in emissions on diesel vehicles, provides power for cooling units and HVAC (Heating, Ventilation and Air Conditioning), as well as to extend range on electric vehicles.

Sono Solar is led by an international team of experienced engineers and business developers from across the automotive and photovoltaic industries. After signing letters of intent and commercial agreements for future collaborations with companies such as MAN Truck & Bus and EasyMile, the projects with ARI Motors and Wallaby Boats are an addition to the various B2B projects that facilitate the transition of commercial transport to a sustainable future.

Sono Motors to Provide 100 Sion to We Drive Solar for V2G Project in the City of Utrecht

2021-09-16T06:55:00+02:00

Munich-Based Mobility Provider Sono Motors Will Support the City of Utrecht, and Their V2G Efforts With 100 Sion, the World’s First Solar Electric Vehicle (SEV) For the Masses
This Project Is One of the First Large-Scale Use Cases of Bidirectional Charging in the Megawatt Range
Sono Motors’ Proprietary Technology to Stabilize Regional Electricity Grids

16 September 2021 - Munich-based mobility provider Sono Motors signed a cooperation agreement for a large-scale vehicle-to-grid (V2G) project in the city of Utrecht, Netherlands, with We Drive Solar. Sono Motors will provide 100 Sion and thereby support the city in its goal of becoming the first metropolitan ecosystem to combine bidirectional charging and car sharing. Sono Motors’ Sion, the world’s first solar electric vehicle (SEV) for the masses, enables V2G use-cases through its 54 kWh battery, unique solar technology, and the bidirectional charging system.

The region of Utrecht is to connect local energy generation via electric vehicles’ smart charging capabilities, the first project of this scale in the world, with 500 bidirectional charging stations available to the public. On top of the energy produced via the integrated solar panels, all Sion will be charged using sustainable energy and will also be able to deliver excess energy back into the grid. The Sion’s discharging power of 11 kW combined with its battery, helps to reduce grid instabilities and the likelihood of blackouts. The 1.1 megawatt peak power provided by the 100 Sion is equivalent to that created by a large PV plant the size of about two football fields.

“This is the perfect project for Sono Motors to further our vision of a world free from fossil fuels as it is a clear demonstration that electric vehicles can support the transition of the energy sector as a whole. We are proud that the technology we develop is able to facilitate such a ground-breaking project, focusing on clean urban living, smart charging and shared mobility” says Jona Christians, Sono Motors’ CEO and co-founder.

“We are very pleased to collaborate with an innovative company like Sono Motors. They are the perfect partner for this venture as they already incorporate the use of solar energy, sharing and bidirectional charging into their product offering” says Robin Berg, Director of We Drive Solar.

Sono Motors, founded in 2016, is on a mission to enable environmentally conscious and affordable individual mobility for all in a world in which all vehicles are solar, shared and forgo the use of fossil fuels. The physical manifestation of this comes in the form of the Sion, a solar electric vehicle (SEV) that is able to not only extend its range by an average of 112 km per week via solar energy converted into electricity via the 248 solar cells, seamlessly integrated into the body of the car itself. This helps the Sion to become more self-sufficient and rely less on the grid. The Sion is also equipped with a 54 kWh LFP-battery that enables the car to travel up to 305 km on a single charge. The energy stored in the battery can also be used to charge or power other electronic devices (up to 3.7 kW) or even electric vehicles (up to 11 kW), as well as supplied to the home or the grid via the bidirectional on-board charger (up to 11 kW).

As part of the city-wide bidirectional charging and car sharing fleet it is planned that 100 Sion will be reserved by We Drive Solar. The aim is to develop this project on a larger scale in further cities and businesses in the Netherlands and other European countries. This is done in conjunction with the We Drive Solar consortium that operates a growing fleet of electric vehicles to be shared, with further deployment into the Utrecht region planned and with LOIs already signed with major OEMs such as Hyundai and Renault.

Sono Motors Launches Its Own Bidirectional Wallbox

2021-09-02T07:00:00+02:00

The Innovative Bidirectional AC Wallbox Is up to 70% More Affordable Than Comparable DC Wallboxes and Thus Makes Vehicle-to-Home (v2h) And Vehicle-to-Grid (v2g) Affordable
Bidirectional Charging Enables Use of the Vehicle as a Mobile Power Plant and External Home Storage System, Thereby Becoming an Important Building Block on the Way to 100% Renewable Energy
The Integrated Type 2 Charging Cable Allows Charging and Discharging With a Power of up to 11 kW AC
The Community Makes the Final Decision on the Sono Wallbox’s Design

2nd September 2021 – Mobility provider Sono Motors is fulfilling the Community’s desire for an affordable wall charging station, suitable for home charging, vehicle-to-grid (V2G) and vehicle-to-home (V2H) with the first bidirectional AC wallbox on the market. This brings the company a significant step closer to its vision of a world without fossil fuels. The wallbox enables the Sion to be used as a mobile power plant and also to feed stored electricity either back into their house or into the grid itself. Homeowners with photovoltaic systems especially save a large amount of money as they are able to use more of their own electricity without having to buy an expensive home storage system. The Sono wallbox charges and discharges the Sion with up to 11 kW via the integrated Type 2 charging cable, and will save up to 70% of costs incurred by DC bidirectional wallboxes available to date. It is already possible to reserve the new wallbox free of charge, delivery is expected to take place with the Sion start of production in 2023.

“We want to drive the future of energy generation and make bidirectional charging possible for everyone”, says Laurin Hahn, CEO and founder of Sono Motors. “In combination with the Sion’s integrated solar technology, the new wallbox represents a breakthrough for bidirectional charging technology, as many homeowners can save themselves the expense of purchasing a new, costly home storage system. This is an important milestone for us on the way to 100% renewable energy”, Hahn continues.

Sono Motors makes bidirectional charging affordable

Every Sion is equipped as standard with a bidirectional charging system, the specially developed on-board charger (OBC), and becomes a mobile power plant in combination with the Sono app. In addition to powering household appliances and delivering energy to other electric cars, the innovative bidirectional Sono wallbox can also be used to supply the home with the energy stored in the Sion. In contrast to the DC wallboxes previously available, Sono Motors has deliberately opted for an AC wallbox and can thus offer a solution that is up to 70% cheaper. This is possible due to the conversion from direct to alternating current (DC/AC) taking place within the Sion itself and not the wallbox - significantly reducing costs. The final price will be announced before market launch in 2023 and will be in the low 4-digit euro range. The Sono wallbox was developed in collaboration with the German manufacturer Kostal.

A home energy management system (HEMS) controls when the Sion is charged and discharged: the wallbox communicates with the HEMS via various protocols such as EEBUS, Modbus or OCPP. A recommendation as to which HEMS are compatible with the Sono wallbox will be available shortly after its sales launch. The Sono app and Sono infotainment can also be used to set the level of the vehicle’s battery at which discharging can be terminated. This ensures that it always has enough range to cover any mobility needs.

Possible areas of application:

Charging station for the Sion:

The Sono wallbox is capable of fully charging the Sion’s 54 kWh LFP battery in up to 5 hours, making it perfect for overnight charging and ensuring a range of up to 305 km. In addition, the Sion can be charged at fast-charging stations at a speed of up to 75 kW (DC) via the integrated CCS interface, i.e. to a charge level of 80% in around 35 minutes.

Vehicle-to-home (v2h):

The vehicle functions as an electricity storage unit and power plant for one’s own home without feeding into the grid. So electricity from the photovoltaic system or the Sion’s solar integration can, for example, be stored in the Sion’s battery during the day and delivered to the house at night.

Vehicle-to-grid (v2g):

The vehicle is directly and indirectly connected to the electricity via a building and the energy stored is fed back into the grid thereby. Instead of switching off wind turbines in times of energy surplus, the excess energy could be temporarily stored in the vehicle’s battery. In addition, interconnection of electric cars can be used to cushion peak loads. The planned number of over 257,000 Sion will thus become a decentralized mega-storage system and a trailblazer on the journey to 100% renewable energy.

Community Decides on the Design of the Sono Wallbox

The design of the first Sono wallbox will be decided by the Community. The reservation holders, over 14,000 in number, have a choice of three different designs. Voting via the wallbox landing page will take place until 13 September or live at the Sono House from 5 -12 September. The Sono House is a press and Community event at Sono Motors’ HQ in Munich, and will take place simultaneously with the IAA.

Sono Motors Commences Community Tour Through Germany With Latest Prototype

2021-07-08T17:00:00+02:00

Test Drives With the Latest Sion Solar Electric Car Prototype Generation Possible in Many Locations
Community Members and All Interested Parties Can Experience the Sion up Close and Personal, As Well as Talk to on-Site Sono Experts in Ten German Cities
Tour Stops: Freiburg, Stuttgart, Nuremberg, Mainz, Cologne, Dusseldorf, Hanover, Hamburg, Berlin and Leipzig

8th July 2021 – Mobility-provider Sono Motors commences its 10-city Community Tour on 20th July. The tour kicks-off in Freiburg, followed by Stuttgart, Nuremberg, Mainz, Cologne, Dusseldorf, Hanover, Hamburg, Berlin and Leipzig. Throughout the tour, the latest Sion solar electric vehicle prototype will be available to both the Sono Community and all those interested to experience live, as well as even, in most locations, test drive.

“Through the support of our strong Community as well as over 13,000 reservation holders, we have been able to take this idea from its first conception in a garage to a leading solar mobility company. This tour is us honouring our promise and giving our Community the opportunity to experience the latest generation of our prototype” explains Laurin Hahn, Founder and CEO of Sono Motors.

At every tour stop, participants will be able to see, touch and experience the Sion prototype’s interior and exterior. Test drives will also be offered at almost every location. A team of Sono Motors experts will be available to answer all questions regarding the car itself, solar integration and digital services.
“On the Community Tour, we want to offer all those interested a live mobility experience with the newest Sion prototype. We’re really excited to welcome lots of interested visitors”, says Max Flicker, Sono Motors’ event manager.

Members of the Sono Motors Community, and all those interested, can register here for their desired city.

Overview of dates (subject to short-notice adjustments):

Freiburg, 20th - 22nd July, Fraunhofer-Institut für Solare Energiesysteme
Stuttgart, 24th - 25th July, Römerkastell
Nuremberg, 28th - 29th July, Ofenwerk
Mainz, 31th July - 1st August, Alte Lokhalle
Cologne, 4th - 5th August, RheinEnergieSTADION
Dusseldorf, 7th - 9th August, Seed & Greet Ladepark Kreuz-Hilden
Hanover, 14th - 15th August, Georgsplatz
Hamburg, 18th - 20th August, Cruise Center Steinwerder
Berlin, 22nd. - 23rd August, EUREF-Campus
Leipzig, 26th - 27th August, Paunsdorf Center

Sono Motors’ Sion Gets More Powerful Battery with Greater Range

2021-06-24T07:00:00+02:00

The New 54 kWh LFP Battery Provides the Sion With an Extended Range of up to 305 km and a Maximum Charging Power of up to 75 kW
More Powerful Battery Eliminates Cobalt, Nickel and Manganese
In Surveys Over 90% Of Sion Reservation Holders Voted for a Larger Battery

24th June 2021 – After consultation with its Community, Munich-based mobility provider Sono Motors has opted for a more powerful 54 kWh battery for use in the SEV (Solar Electric Vehicle) Sion. The new battery extends the vehicle’s total range by up to 305 km and its maximum charging power by up to 75 kW. The additional range provided by the Sion’s solar panels remains unchanged at a weekly average of 112 km (245 km per week at peak). The new LFP (lithium iron phosphate) battery is considered to be one of the safest on the market, and also completely dispenses with the use of cobalt, nickel and manganese.

“In our survey, more than 90% of our existing reservation holders voted for a more powerful battery,” said Laurin Hahn, CEO of Sono Motors. “This move is just another example of how Sono Motors is continuing to drive innovation and sustainability, whilst responding to the wishes of our Community throughout the development of the Sion. Boasting greater capacity, greater range, faster charging, enhanced safety features and no cobalt, nickel or manganese usage, this improved battery will strengthen the Sion’s unique market position even further,” Hahn continued.

Key benefits of the enhanced battery include:

Extended range of up to 305 km (previously 255 km)
No usage of cobalt, nickel and manganese
Built with safety in mind and is effectively non-flammable
New charging rate of up to 75 kW CCS (previously 50 kW)
Increased life span of up to 3,000 cycles, or up to 900,000 km

Markus Volmer, Chief Technology Officer at Sono Motors said: “The growing EV market is generating enormous demand for longer-lasting, more sustainable batteries. This enhanced battery enables Sion drivers to extend the time between charges, whilst reducing the charging time itself. This effectively optimizes the Sion to deliver easy and affordable sustainable mobility for everyone.”

Climate protection remains paramount throughout production, as it does in every aspect of Sono’s operations. As part of this commitment, the company will therefore offset all unavoidable greenhouse gas emissions generated in production by supporting certified climate protection projects. This includes any potentially incurred through the procurement of the new battery.

In 2017, Sono Motors introduced the public to its innovative and family-friendly solar electric car, the Sion. To date, the company has received more than 13,000 down-payments for the Sion.

Editor's note: The images in this message were updated on 7 February 2022

Sono Motors and MAN Truck & Bus Want to Jointly Analyze Applications of Solar Technology in Commercial Vehicles

2021-05-07T07:00:00+02:00

Electric transporter collects additional electricity through solar energy
Sono Solar technology is lightweight, robust and can be flexibly adapted to vehicle geometries
Commercial vehicles well-suited for photovoltaic integration thanks to large areas

7th May 2021 – MAN Truck & Bus and Sono Motors have signed a Letter of Intent. The two companies have agreed to investigate the technical and economic feasibility of integrating the Sono Solar technology into MAN’s eTGE electric transporter.

"It is a great opportunity for Sono Motors to team up with such a respected industry partner as MAN and to work together for a more sustainable future. Our Sono Solar technology offers a lightweight and adaptable platform that is ideal for light commercial vehicles such as MAN's battery-powered eTGE," says Jona Christians, co-founder and CEO of Sono Motors. "We look forward to all the opportunities that these two sustainable technologies can bring together."

Three applications are to be equipped with Sono Solar technology and investigated by the companies:

MAN eTGE panel van

MAN eTGE combi with a powerful on-roof air conditioning system

MAN eTGE with a refrigeration system

For all three concepts, the focus is either on additional range to be achieved or on a self-sufficient supply of auxiliary users, e.g the air conditioning system, through the acquired solar energy.

Dennis Affeld, Senior Vice President & Head of Sales Truck & Van at MAN Truck & Bus, is pleased with the partnership with Sono Motors, which is now underway. "We will pool our joint know-how and expertise to test various prototypes with vehicle-integrated photovoltaic technology. The aim is to find out how much energy can be gained from PV technology over the year. Using this insight, we can then assess whether the technology pays off for our customers and at the same time helps to protect the environment."

The eTGE is MAN's answer for urban and regional operations. It does not cause on-site emissions and is significantly quieter in operation compared to an internal combustion engine drive. Depending on the annual mileage, the eTGE can be operated more economically than a comparable diesel TGE: after about four years, it pays for itself.
Sono Solar technology offers a lightweight, robust and cost-effective solar solution that can adapt to a range of complex geometries thanks to its polymer-based design. Due to the larger surface area compared to passenger cars on vehicles such as trucks, vans or buses, the panels are particularly suitable for commercial applications, like Last-Mile-Delivery. The vehicle-integrated photovoltaic solutions (ViPV) are not, however, intended to replace existing energy storage systems such as batteries or fuel cells. They can reduce energy requirements and the number of charging intervals required, thus extending the range. Furthermore, it is conceivable that the solar energy obtained will be utilised for auxiliary users such as heating, air conditioning or refrigeration units.

About MAN

MAN Truck & Bus is one of Europe's leading commercial vehicle manufacturers and providers of transport solutions with annual sales of more than €9.5 billion (2020). Their product portfolio includes vans, trucks, buses, diesel and gas engines as well as services related to passenger transport and freight transport. MAN Truck & Bus is a TRATON SE company.

13,000 International Reservations for the SEV Sion

2021-04-15T07:00:00+02:00

More than 13,000 individual reservations and payments have been placed on the Munich-based mobility provider Sono Motors’ Solar Electric Vehicle (SEV)
In addition to numerous reservations from Germany, the company has also registered further international reservations
The number of reservations would equate to sales of 278 million euros

15th April 2021 – The mobility provider Sono Motors has announced the achievement of reaching 13,000 private reservations of its innovative Sion SEV (Solar Electric Vehicle), with an average down-payment of 3,000 euros. Even prior to the commencement of production, the company booked a total order value of 278 million euros. Pre-orders of the Sion continue to be predominantly placed in Germany and the DACH (Germany, Austria and Switzerland) region, but the company is also registering increasing numbers from countries such as Italy, Spain, Portugal, Finland and Mauritius. This interactive map shows the geographical distribution of the reservations made. It was created and published by the Sono Motors community itself.

“13,000 reservations is a clear sign for us, as well as for the entire automotive industry. This number highlights people’s need for resource-friendly and affordable mobility solutions,” emphasizes Jona Christians, CEO and co-founder of Sono Motors, “It also gives us tailwind to get the Sion on the road as quickly as possible”, he adds.

After planned production commencement in 2023 and the increase to maximum capacity within the same year, the company intends to produce 43,000 vehicles per year in a 2-shift operation, in collaboration with contract manufacturer NEVS. The total production volume is expected to be 257,000 vehicles over a seven-year period. The former SAAB factory in Trollhättan, Sweden, will serve as the production facility.

Internationally Renowned Top Executive Joins Sono Motors as CTO

2021-03-18T07:00:00+01:00

Markus Volmer (47) will be the new lead for complete vehicle development at Sono Motors
Mr Volmer has extensive experience in the development and testing of production vehicles, having held managerial positions at Daimler, Borgward, and Foton

18th March 2021 – Mobility provider Sono Motors has appointed graduate engineer Markus Volmer to the post of Chief Technology Officer (CTO), effective immediately. Markus Volmer (47) has more than 18 years of experience as a senior development engineer in the automotive industry, which he brings to his new post as CTO. He will be leading the complete vehicle development at Sono Motors and as such will be responsible for testing and validating the Sion, a solar electric vehicle (SEV), as it reaches production maturity. After holding several posts in development and testing at Daimler, Mr Volmer joined the Chinese Foton Motor Group and Borgward in 2016, where his most recent post was that of Senior Chief Engineer, which put him in charge of complete vehicle development. He was able to achieve a 40-percent increase in reliability and quality in light commercial vehicles.
“Markus has extensive technical expertise and international experience in the development and testing of production vehicles while at the same time significantly advancing commercial vehicle electrification. Having him on board takes us a decisive step further towards offering our customers the Sion, the first affordable SEV in the world, and becoming a global mobility leader”, says Laurin Hahn, CEO and founder of Sono Motors.
Its latest addition included, the Sono Motors management board will now be made up of the founders and CEOs, Laurin Hahn and Jona Christians, as well as Torsten Kiedel (CFO), Thomas Hausch (COO), and Markus Volmer (CTO).

Sono Motors and EasyMile Reveal Collaboration on Autonomous Solar-Powered Passenger Shuttle

2021-01-25T13:00:00+01:00

Sono Motors and EasyMile are equipping an EZ10 autonomous shuttle prototype with Sono Motors’ patented solar technology, testing a new energy concept for electric and driverless shuttles.

The Munich based solar mobility provider plans to transfer flexible solar panels to a variety of platforms, now including the EZ10. This could unlock a new type of energy-efficient transportation which could really make a difference to the still weak spread of charging stations for electric vehicles.

The joint venture was recently revealed at the virtual Consumer Electronics Show (CES) 2021 with Sono Motors announcing its intention to license its unique solar technology to other companies. Its solar technology modifies a vehicle's exterior by installing solar cells integrated into flexible polymers instead of glass. This makes it lighter, robust, cheaper and more efficient than any other vehicle solar technology currently available.

This technique allows the company to integrate solar panels on a variety of vehicle types creating a number of new application possibilities. Because of the large contact area on buses and trucks, these vehicles are particularly suitable to be fitted with the flexible panels.

The EZ10 electric shuttle, which has already been used in more than 30 countries around the world, operates up to 16 hours with one battery charge and must be plugged-in for around 6 hours to be fully re-charged from empty. This could be dramatically shortened with the new solar technology

The solar cells convert sunlight into energy that is stored in the vehicle’s battery. Solar cells, which produce energy no matter whether a vehicle is driving or parked, can significantly increase the range of the electric vehicle.

This could give the driverless shuttle even more autonomy as it would be more independent of the available charging infrastructure. A big cost-saver for private sites as well as an advantage for the many communities that use the shuttle as an extension of the public transportation network.

The solar body panels aren’t designed to replace traditional charging methods. They instead can reduce the number of charging intervals. This solar-powered approach is an efficient and quick way of promoting electric mobility.

About EasyMile

EasyMile develops autonomous technology and vehicle solutions for passenger and goods transportation worldwide, its award-winning technology is leading in the field of autonomous driving. The company's unique software can be integrated in numerous other vehicle platforms allowing reliable and safe operations without an existing infrastructure and under mixed traffic conditions. It’s people mover solution, the EZ10, is the most-deployed driverless shuttle in the world and is already being operated in more than 30 countries to relieve local public transport.

EasyMile's autonomous vehicle solutions play a decisive role for the mobility of the future; they not only enable seamless and individual mobility for passenger transport by closing so-called first-last-mile transport gaps, but also automate the flow of goods in logistics processes. The technology company works closely with its partners on the latest technologies in the areas of software, robotics and artificial intelligence in order to further develop the vision of autonomous driving.

Media Contact:
Franca Trippler | franca.trippler@easymile.com | +49 162 57 164 06

Sono Motors Unveils Next Gen Solar EV Prototype - Surprising Audience with Solar Trailer

2021-01-13T12:00:00+01:00

Solar EV Innovator successfully exhibits next gen prototype in a two-part series at CES
Surprises community with new capabilities for proprietary polymer-based solar technology
Ushers in expanded possibilities for 100% clean, free energy production

13th January 2021 – Sono Motors, the Company that seeks to revolutionize the future of solar-powered transportation, successfully unveiled the next frontier for its polymer-based Sono Solar Technology at CES 2021. Remarkably, the Company surprised live session participants with the first prototype of a photovoltaic (PV) or solar trailer, produced in conjunction with Finnish solar manufacturer, Valoe and subsidized by the German Federal Ministry for Economic Affairs and Energy (BMWi) as part of the evTrailer research project. This announcement occurred in conjunction with the introduction of the next generation prototype for the innovative Solar EV, the Sion.

In line with Sono Motors’ vision for an affordable, accessible world without fossil fuels, the Company has created a proprietary platform to expand the use of the solar technology innovations borne from the Sion. The PV/solar trailer represents the next step for Sono Solar Technology, underscoring the technology’s potential use across various mobility applications and upending global consumers’ historic reliance on traditional combustion engines.
“We have found a way to deliver sustainable, free power across various transportation applications by replacing the traditional “paint shop” process with integrated solar technology. While Sono Solar Technology is cheaper, lighter, and much more efficient than conventional glass-based solar cells, I am most excited about the potential uses that will arise thanks to its incredible flexibility,” said Jona Christians, Co-Founder and Chief Executive Officer of Sono Motors. “We are continuing to enhance this technology and look forward to our next achievements.”

The Sion also exhibited the first series-intended solar integration on the body for the model during CES 2021, emphasizing the Company’s innovation track record.

What is new in the next gen prototype of the Sion

Sono Motors integrated series-intended parts into a prototype. Those parts either come from series suppliers or are parts that are close to series. Besides the successful implementation of the series-intended electric drive unit, the chassis and the MPPT Central Unit (MCU), Sono Motors achieved something remarkable by placing solar panels on all straight and curved exterior parts of the vehicle. Sono Motors has also taken a major step forward in the development of the Sono App and infotainment, which is demonstrated by this prototype. The in-vehicle series-intended control units now communicate with the app and infotainment. For example in live tracking of solar energy, keyless entry, opening the charging lid, control of the cabin temperature and ambient light. High quality surface materials and the series-close dashboard give the vehicle a modern look and a good indication of the standard look and feel of the Sion.

For more information about the new features of the prototype, please submit a request to Sono Motor’s contact persons.

Sono Motors Reaches New Landmark in Journey to First Solar EV for the Masses

2021-01-04T14:00:00+01:00

Community-supported solar EV trailblazer launches a new prototype at CES 2021
Launch builds upon the Company’s proven track record of consistent development
Sono Solar Technology underscores the Company’s vision to provide consumers with affordable and convenient solar EVs

4th January 2021 – Sono Motors, the Company innovating electric mobility with its proprietary solar technology, announced that it will launch the next generation prototype of its revolutionary Solar EV for the masses – The Sion. Led by its founders’ vision of a world without fossil fuels, Sono Motors has been supported by its community to further advance EV development. The Sion blends disruptive technology with affordability to enable individual contribution to global sustainability. Combined with Sono Motors’ proprietary Sono Solar Technology, the Sion is paving the way for an attractively priced transition to a sustainable future.

“We are tremendously proud to deliver on our promise to our community to showcase a product that can drive the transition to a solar-powered future. This journey started in a garage with a simple idea and has become a great force thanks to the overwhelming support of our community,” said Laurin Hahn, Co-Founder and Chief Executive Officer of Sono Motors. “I speak for our entire team when I say that the next generation Sion prototype is just the beginning, and we are keen to set through to realize our goal. We are looking forward to continuing our progress to deliver the first Solar EV for everyone.”

Marking one year since it concluded one of Europe’s largest crowdfunding campaigns, Sono Motors is showcasing the product of its relentless and innovative work throughout 2020. The Sion boasts the lowest total cost of ownership in its class at an estimated gross price point of just € 25,500 and has amassed more than 12,600 pre-orders to date. In a nod to great automotive trailblazers of years’ past, the Sion embodies the idea of affordability, convenience, and accessibility in a one-size-fits-all package.

“This vision is powered by our proprietary Sono Solar Technology, which replaces traditional paint with integrated solar panels that harvest clean, renewable, free energy,” said Mathieu Baudrit, Director Photovoltaic Integration of Sono Motors. “With a boundless range of potential applications, Sono Solar Technology is a seamless, flexible and lightweight solution for efficient electric charging.”

This will be Sono Motors’ first time presenting at CES, one of the world’s largest and most influential technology events. CES 2021 will be held in a completely digital format from January 11-14, 2021 and will feature more than 1,000 exhibitors from across the globe. Sono Motors Live Session Details:

January 12 Trailblazing Mobility: The Solar EV of the Future @ 1:45-2:15PM EST
January 13 Garage to Global Innovation: Is SEV the new SUV? @ 1:45-2:15PM EST

Sono Motors Completes €45 million Series C Funding Round

2020-12-16T07:00:00+01:00

Solar mobility trailblazer reaches €100 million funding milestone
Funding positions the company for continued development of Solar Electric Vehicle Sion

16th December 2020 – Sono Motors, the company developing the innovative Solar Electric Vehicle Sion, recently announced it has completed €45 million in Series C financing. The company’s latest financing round was led by a collection of renowned European institutional investors – including Swedbank and DNCA – together with various family offices. Joh. Berenberg, Gossler & Co. KG served as the company’s exclusive advisor on the transaction.

“We are very proud of the positive feedback Sono has received from investors, as they continue to embrace clean technology innovation. This initial closing of our Series C financing is a testament to the confidence investors have in the Sion and its expected contribution to a more sustainable world,” said Torsten Kiedel, Chief Financial Officer of Sono Motors. “We are confident that our proprietary Vehicle Integrated PV (ViPV) technology, together with integrated Mobility Services, will provide the Sion with a distinctive competitive edge in the global EV markets.”

Early this year, the company made news by closing €53 million in funding after one of the largest crowdfunding campaigns in European history. Adding in the latest Series C, Sono Motors has raised approximately €100 million across equity and debt financing as well as paid reservations.

As lead investor, Swedbank Robur supported the company through the Swedbank Robur Småbolag Europa fund, led by Mrs. Ulrika Enhorning. With more than €1 billion in assets under management, the fund has made notable investments in successful startups such as HelloFresh.

“We are delighted to announce that Swedbank Robur has decided to invest in Sono Motors, the German-based developer of Solar Electric Vehicles. We are especially proud to take the role as a lead investor and become part of the company’s journey to disrupt the strongly growing EV market with its revolutionary solar technology,” said Mrs. Enhorning. “The investment fits very well with our fund Swedbank Robur Småbolagsfond Europa and our ambitions to actively shape the transition towards a more sustainable future.”

Alongside Swedbank, DNCA participated in the round. “DNCA are extremely excited to join Sono Motors on its mission to bring Solar Electric Vehicles into the mass market. We believe that Sono is well-positioned to capitalize on the promising market opportunity and are delighted to be leading this funding round,” says Rajesh Varma, Fund Manager of DNCA Invest Beyond Global Leaders.

The Sion is projected to be the first mass-produced Solar EV, for which the company has already collected more than 12,600 pre-orders.

This press release may not be published, distributed or transmitted in the United States. This press release does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities (the “Securities”) of Sono Group N.V. or any of its affiliates (together, the “Company”) in the United States or any other jurisdiction in which such offer or solicitation is unlawful. The Securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). Any public offering of securities to be made in the United States, if any, will be made by means of a prospectus that may be obtained from the issuer or the relevant selling security holder and will contain detailed information about the Company and its management as well as financial statements.
This press release contains “forward-looking statements”. Forward-looking statements in this release include, but are not limited to, statements concerning the expected start of series production of the Company’s vehicles and certain of their specifications. Various risks and uncertainties could cause actual outcomes and results to differ materially from those contemplated by forward-looking statements. Forward-looking statements speak only as of the date the statements are made and are based on information available to the Company at the time those statements are made and / or management's good faith belief as of that time with respect to future events. The Company assumes no obligation to update forward-looking statements to reflect events or circumstances after the date that they were made, except as required by law.

New Prototype of Sono Motors’ Sion to Be Launched at CES 2021

2020-12-11T06:00:00+01:00

After a year of development, Sono Motors is setting an important milestone towards series production.
The founders of Sono Motors announced this to their reservation holders and supporters in a live stream held on Thursday, December 10.
The new generation of prototypes will be unveiled at one of the world’s largest technology trade shows, the Consumer Electronics Show (CES).

11th December 2020 – Solar mobility provider Sono Motors announced the launch of the new prototype generation of its solar electric car, the Sion. The company held a live online session for their reservation holders and other supporters. The development of the vehicles was funded by one of Europe’s largest crowdfunding campaigns, which the company successfully carried out in January 2020. Backed up by new financial resources and the support of the community, Sono Motors started the new prototype project at the beginning of 2020.

Within one year, the company built the next prototype generation of the Sion. This new prototype demonstrates the progress the company has made in terms of development during a time of global transformation caused by the COVID-19 pandemic. “For the first time, we integrated parts in a prototype that will also be installed in the series vehicle.” says Denis Azhar, Sion Group Lead at Sono Motors. “The successful assembly is the result of strong partnerships with suppliers and employees from the facility in Roding.” By manufacturing these prototypes, Sono Motors is taking another major step towards series production.

A Clear Vision and Agile Mindset During the Pandemic

The construction phase of the prototypes coincided with the COVID-19 pandemic that affected the entire automotive industry. Only a few weeks into Sono Motors’ newly funded project, the company had to adapt its processes in line with the unprecedented situation.
By keeping its vision clear and collaborating in agile structures, the Sono Motors team was able to adapt and continue its work.

It spent the year relentlessly working to achieve the planned milestones for its second prototype in 2020: the program restart in spring, CAD handover in summer, and the completion of the second prototype generation in winter.

Cofounder and CEO of Sono Motors Laurin Hahn says: “Our work reality has changed completely due to COVID-19 but our vision has not. In the midst of a global health and economic crisis, we have focused even more on our vision – determined to alleviate another global crisis, global warming.” “The successful completion of the crowdfunding campaign has made us aware once again that we have created an unstoppable movement that people are willing to support with compassion and confidence. This gave us the energy to continue our work more committed than ever,” adds cofounder and CEO Jona Christians.

The CES – Stage for Innovative Technology

The founders stated that this next generation of prototype vehicles will be released to the public at the CES, one of the world’s largest and most important trade fairs for representatives of the electronics industry.
For more than 50 years, the CES has been the global platform for numerous innovations from the tech industry. As an innovative company, Sono Motors wants to harness the international attention of the trade show in order to present its technology to a wider audience and get feedback.

In 2021, the CES will be completely digital for the first time. This new setup will allow the exhibitors and visitors to attend safely within the context of the COVID-19 measures. The CES will take place from January 11 to 14, 2021.

Solar Mobility Provider Sono Motors and Team Rosberg Engineering (TRE) Partner on Development of Chassis for Solar-Electric Car Sion

2020-12-03T06:30:00+01:00

The novel cooperation includes the development, simulation, and production of a suspension and chassis system for Sono Motors’ electric car Sion.
The chassis system is integrated into Sono Motors’ new prototype for the first time.

3rd December 2020 – Solar mobility provider Sono Motors has announced its cooperation with Team Rosberg Engineering (TRE) for chassis development of the Sion. The chassis, including the steering system, is a central aspect of every vehicle, especially when it comes to driving experience and driving safety. In the joint project, both companies join forces throughout the development process, from the design and simulation of components and the manufacturing of a functional prototype chassis to the development of the series chassis system. In particular, the partners focused on the design of a safe and robust subframe, which provides sufficient resistance in the event of a frontal crash while at the same time meeting the installation space requirements of the solar-powered Sion.

Incorporating Racing Engineering Expertise into Innovative Mobility Technology

Founded by Formula One world champion Keke Rosberg, TRE is one of the leading providers in the field of vehicle development and brings many years of experience and expertise from the field of motorsports to the development of passenger vehicles. Sono Motors went for a proven partner when choosing TRE. Already in 2018, TRE was involved in selecting a suitable axle concept for the company’s series vehicle.

For Sono Motors, this cooperation “delivers positive outcomes in several aspects,” says Jona Christians, cofounder and CEO of Sono Motors. “TRE is a leading player in chassis development, incorporating specialist knowledge from racing engineers into passenger-car manufacturing. Furthermore, with a German supplier, we have short delivery distances and short delivery times. Meanwhile, both companies’ visions align to drive sustainable mobility forward.”

Nico Rosberg, shareholder of TRE and son of the founder Keke Rosberg, comments that “as a sustainability entrepreneur, it is a particular concern of mine to contribute our expertise to the development of Sono Motors’ Sion and to further develop the future of alternative mobility concepts.” TRE CEO Eckardt Döhrer adds, “We are pleased that we can contribute our profound know-how and TRE’s more than 20 years of experience in chassis development to the development of the Sion and thus help shape technological progress in future-oriented mobility concepts.”

State of Development

By using efficient manufacturing processes to produce new parts such as subframes, wheel carriers, and stabilizer bars, the prototype parts already largely correspond in their properties and functions to those in the future production vehicle.

In October of this year, the finished parts were transported to the prototype production facility located in Roding. The TRE chassis systems are already installed in the next generation of prototypes of the Sion, which is planned to be launched at the end of the year. The prototype can be used for tuning runs and road tests.

About TRE

TRE GmbH (Team Rosberg Engineering) is a joint venture of IAV GmbH and Formula 1 World Champion Nico Rosberg. TRE has its roots in racing and was spun off from the racing team of the Formula 1 World Champion Keke Rosberg in 1997. The main shareholder IAV GmbH is one of the biggest engineering suppliers with over 8,000 employees.

TRE is highly specialized in chassis development for production and racing vehicles and works as an independent engineering supplier for most of the large OEM's worldwide. TRE’s main competencies include all aspects of vehicle dynamics development with more than 20 years of experience.

In particular, TRE provides a portfolio of complex simulation (axle layout to full vehicle simulation), design of chassis components up to complete rolling chassis, as well as vehicle- and driving dynamics testing. At the expanding headquarters, TRE operates one of the most advanced 7-Post Vertical Dynamic Test Rigs in Europe.

Sono Motors Prepares Approval of Technology for Solar Integration into Body of Electric Vehicles

2020-10-22T06:30:00+02:00

The project with Fraunhofer Institute for Solar Energy Systems ISE extends from the testing of the patented solar technology through to approval.
The approval process is to be overseen by a recognized testing services provider.

22nd October 2020 – The German electric vehicle manufacturer and mobility provider Sono Motors today announced that it is working on a project with the renowned Fraunhofer Institute for Solar Energy Systems ISE. The aim of the partnership is to test and certify an innovative technology for integrating solar cells into the bodywork of electric vehicles. The partnership involves Sono Motors’ patented solar technology being comprehensively tested and taken to approval. The tests will focus in particular on producing evidence of the technology’s safety and reliability. The process of certifying the technology for use in electric cars is to be overseen by a recognized German testing services provider. Another primary objective of the collaboration between the Fraunhofer ISE and Sono Motors is to identify other potential areas of application in order to promote certification of the solar technology outside of electric cars, too.

Sono Motors’ solar technology

Sono Motors’ solar technology consists of lightweight, highly efficient photovoltaic modules, a corresponding control unit with a model for predicting the energy yield, and other system components for the electric and mechanical integration of the solar technology into the bodywork of electric vehicles. Solar modules are worked seamlessly into the surface of the body parts to supply vehicles with solar electricity. The technology will debut in Sono Motors’ Sion. Drawing on the power of the sun, the Sion’s solar system will be able to provide energy for an additional range of up to 245 km (112 km on average) a week. Production of the innovative electric car is currently scheduled to begin in 2022.

“We have been working hard on developing our solar technology ever since Sono Motors was founded. We are now in the final stages of having this one-of-a-kind technology approved. We are delighted to have the renowned Fraunhofer Institute for Solar Energy Systems join us at this crucial stage, with its expertise in the area of solar integration,” comments Mathieu Baudrit, Head of Research and Development, Solar Integration, at Sono Motors.

Dr. Harry Wirth, Division Director, Photovoltaics Modules and Power Plants at Fraunhofer ISE adds: “The integration of solar modules into vehicles is a key technology for the low-carbon mobility of the future. Solar electricity increases a vehicle’s range and fewer charging stops mean lower electricity costs. We are delighted to be able to contribute our institute’s comprehensive expertise, ranging from the development and testing of solar modules to electronic applications to this joint project.”

Sono Motors Patents Bidirectional Charging Technology for Electric Cars

2020-09-04T06:45:00+02:00

This technology allows intelligent management of the electrical energy budget of an electric vehicle.

4th September 2020 – The electric vehicle start-up from Munich, Sono Motors, has been granted a European patent for its bidirectional charging system. The basis for this technology is a newly developed charger, which can be used to charge, store, and release electricity. To draw electricity, the car is connected directly to an external energy consumer, an example would be another electric vehicle. For the first time, the charging or discharging process can be controlled via a control unit, such as an app or the vehicle's infotainment system. With the development of this technology, Sono Motors offers a more efficient solution for electric vehicles that draw all or part of their energy from integrated solar cells. If solar vehicles generate more power during the day than can be absorbed by the vehicle's battery, the bidirectional charging system makes it possible to quickly and easily make unused solar power available to other devices or vehicles.

The innovative system will be used for the first time in the company's own Solar Electric Vehicle (SEV) the Sion. In combination with the solar system integrated into the Sion's vehicle body, other electronic devices and vehicles can be supplied with up to 11 kW of emission-free solar power completely autonomously. In addition to a CCS module for charging the vehicle, a standard household power outlet plug and a high-performance type 2 plug are integrated into the vehicle's hood to draw power.

The user of the vehicle can then control the power withdrawal via a specially developed app or alternatively, via the vehicle's infotainment system. In doing so, they can choose if and how much power is to be made available to external electrical consumers and how much power is to remain in the vehicle.

Laurin Hahn, Co-Founder and CEO of Sono Motors: “Patenting our bidirectional charging system is another important milestone on our way to becoming a mobility service provider. The technology allows us to enable intelligent power sharing, i.e. the sharing of stored energy via an app. The Sion can thus not only be charged via the power grid, but becomes part of the charging infrastructure itself.”

Sono Motors Is the First Automaker to Join the Fair Cobalt Alliance

2020-08-24T09:00:00+02:00

The Fair Cobalt Alliance is an initiative that is working to improve conditions in the small-scale cobalt mining industry in the Democratic Republic of Congo.

24th August 2020 – Sono Motors became the first electric vehicle manufacturer to join the Fair Cobalt Alliance, an initiative to drive fairer supply of cobalt by improving the conditions in small-scale mining in the Democratic Republic of Congo. The company will be an ambassador for the project and will also have a voice in decisions on the implementation of measures in the project area. Through the support of the alliance, the company wants to increase transparency in the cobalt supply chain for its own Solar Electric Vehicle, Sion, in the medium term. In the long term, the company seeks to integrate fair cobalt into its own supply chain.

Launched by Fairphone, Signify, Huayou Cobalt and The Impact Facility, the Fair Cobalt Alliance pursues three specific objectives in close cooperation with the Congolese government and civil society:

Drive the supply of fairer cobalt by supporting the professionalisation of small-scale mining management and creating safer and more environmentally responsible sites.
Establish credible control and monitoring mechanisms to keep children out of the mines and support the enrolment of children into school, in order to effectively prevent child labour in the supply chain.
Combat poverty among families dependent on cobalt mining by supporting projects aimed at creating a sustainable livelihood, for example by promoting education, agriculture or entrepreneurship

"As an electric vehicle manufacturer whose clear goal is to make mobility fairer and even more environmentally friendly, it is our responsibility to also address the downside of battery technology. With the Fair Cobalt Alliance, we are tackling the root of the problem and promoting a responsible mining of cobalt, which is an essential component of electric car batteries. It is part of Sono Motors' vision to be a role model, and we hope for other companies in the mobility industry to follow and join the alliance," says Jona Christians, CEO and co-founder of Sono Motors.

In addition to Sono Motors, Glencore and Lifesaver are also joining the alliance today. The entire press release by the Fair Cobalt Alliance is available for download below.

Sono Motors With New Chief Financial Officer

2020-03-12T00:00:00+01:00

Torsten Kiedel, start-up experienced CFO, joins the management of Sono Motors

12th March 2020 – German mobility provider Sono Motors has appointed Torsten Kiedel to the company's management board with immediate effect. In his function as Chief Financial Officer (CFO), the 41-year-old Business Master graduate will secure the company's financing in the future and make a key contribution to strategically positioning Sono Motors for its market entry and growth in the coming years. Torsten Kiedel looks back on more than 15 years of management experience, including in the areas of corporate finance, risk management and controlling. In addition to corporate experience in various finance departments at BMW, including three years at BMW Bank in the USA, with him he brings to Sono Motors seven years of start-up experience from management positions in the agile growth environment of companies such as mytaxi (now known as Free Now) and Flixbus. In his previous position as CFO of Occhio, he was responsible for finance and purchasing.

"Unfortunately, the financing environment and the lack of venture capital for start-ups is still a challenge in Germany. After the completion of one of the most successful Community Funding Campaigns in Europe, the challenge now is to secure through financing until the start of production of the Sion and thus create financial sustainability as quickly as possible," says Laurin Hahn, CEO and one of the founders of Sono Motors. "We are very pleased to have Torsten onboard in this decisive phase who is an extremely experienced colleague and financing expert and is as enthusiastic and engaged with climate-friendly mobility as we are," adds Laurin Hahn.

Following the new addition, the Sono Motors management board will henceforth consist of the founders and CEOs Laurin Hahn and Jona Christians as well as
Torsten Kiedel (CFO), Isa Krupka (CMO), Thomas Hausch (COO) and Roberto Diesel (CTO).

Sono Motors Community Funding Campaign Reaches 53 Million Euros

2020-01-21T00:00:00+01:00

More than 10,000 supporters set an example for sustainable future mobility in one of the largest Community Funding Campaigns.

21st January 2020 – The Munich-based mobility provider Sono Motors has successfully completed the extension of its campaign to finance the company and has exceeded its target of 50 million euros. With one of the largest community funding campaigns in Europe, an average of one million euros a day has been invested in the campaign over a period of 50 days, of which around 75 percent stem from reservation holders of the Sion – the first solar electric vehicle (SEV), 19 percent from existing and new investors and around 6 percent from loans and donations. In December 2019, in full transparency Sono Motors announced a strategic reorganization of the company’s finances to protect its values and technologies. Therefore, they gave the Sono Motors community the possibility to take the decision on whether to continue the "project Sion".

"53 million euros, invested by the centre of society, for the forward-looking and sustainable mobility concept of a start-up is a clear signal, also directed at politicians to make adjustments. Electromobility and the support of young companies in Germany has to be pursued faster and more vigorously. We at Sono Motors now see it as our responsibility to live up to the trust placed in us by our supporters. Together with the community, we will continue on our path to bring the Sion into production as quickly as possible," says Laurin Hahn, CEO and co-founder of Sono Motors.

The Sono Motors community will continue to play a key role in the further financing of the company, together with sustainable and value-based investors. The inflows from the now completed community funding campaign will be used to finance the construction of series prototypes and to set up production. Sono Motors plans to produce a total of 257,000 Sion over a period of seven years at the former Saab plant in Trollhättan, Sweden. The company currently has 13,000 reservations for the Sion.

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

2019-12-02T00:00:00+01:00

2,000 vehicle preorders to be generated in four weeks.
Founders intend transfer of their profits into Community Pool.

2nd December 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.

In the past, the company’s high capital requirements meant that international investors in particular played a major part in its financing strategy. However, in advanced negotiations with a number of potential partners it became increasingly apparent that Sono Motors’ long-term corporate strategy could not easily be reconciled with the interests of traditional investors. A departure from the company's vision and an outflow of technologies and patents and ultimately the end for the forward-looking concept of the Sion would have been the result. The decision to no longer pursue the previous strategy and the termination of the corresponding talks requires the acquisition of new financial resources and postpones the production of the first vehicles into September 2021.

“We realized again and again over the past few months that we have entirely different goals to traditional financial investors,” says Laurin Hahn, CEO and cofounder of Sono Motors. “Aggressive growth and quick profits are difficult to reconcile with a sustainable corporate and vehicle concept which is designed to give access to affordable and eco-friendly electromobility throughout. In addition, providing start-ups that have a capital-intensive business model with venture capital does not work in Germany, neither in the initial stages nor at the growth stage. Had we relied solely on funding measures or the German market environment, Sono Motors would probably not exist in its current form. Urgent action is required from the politicians in this area. It should be possible to implement such a future project in Germany and lead it to economic success. We will continue to fight anyhow. For climate-friendly mobility and for our reservation holders,” adds Hahn.

Sono Motors’ decision to opt for community funding is an unmistakable acknowledgment to the more than 10,000 supporters who have already preordered and prepaid a Sion and a rejection of teaming up with investors who do not share or support the company’s vision and goals.

“We were torn between our pledge to the community and the investors’ demands and were increasingly moving away from who we really are, which is something we absolutely had to correct. Social responsibility and climate protection would otherwise have fallen by the wayside, and so would all that we stepped up for. We are now focusing on continuing to fund our innovative vehicle concept together with people who want to see the Sion on the road. Together with a community that asks for a company which acts responsibly, critically questions itself and can be judged honestly on the basis of the statements it makes,” says Jona Christians, CEO and cofounder of Sono Motors.

With the start of the campaign, the company founders are transferring their remaining shares of the profits to a Community Pool and transfer future profits to today's Sion reservation holders. They are therefore passing up their personal profits, but will keep their voting rights in the company. This ensures that the company’s objectives continue to be realized and that the Sion can be produced sustainably without any changes to the concept. The founding team currently holds around 74 percent of the company’s shares and 64 percent of the profit participation rights.

The Sion is the first production vehicle to bring together solar integration, mobility services and a bidirectional charging function. The seamless integration of solar cells into the vehicle’s surface makes this innovative all-rounder independent of the charging infrastructure over short distances. Up to 5,800 kilometers of free and carbon-neutral range can be generated a year thanks to the integration of solar cells, thereby lowering the running costs of the car. A total of 257,000 vehicles will be manufactured with renewable energy in Sweden.

Sono Motors Shows Interior Design of the Sion

2019-08-29T00:00:00+02:00

Suitable for everyday use and ready to be shared: SEV Sion features a puristic and intuitive interior concept.

29th August 2019 – The German mobility provider Sono Motors presented first images of the Sion interior today as part of an online campaign. The concept behind the vehicle that can autonomously charge itself using solar power and thereby generate additional range was developed as a way of rapidly establishing sharing services and electromobility throughout the market. The first series production SEV therefore leaves the production plant equipped with integrated mobility services. The Sono app enables simple and effortless private car sharing, ride sharing, and energy sharing.

At a time of ever-increasing equipment variations, Sono Motors focuses on the essentials in the cockpit of the Sion, namely functionality, intuitive operation, user-friendliness, and connectivity. The Sion interior design takes into account the diversity of the vehicle’s usage with an appropriately robust and hard-wearing interior.

It will be possible to control all the mobility services directly via the central 10-inch display of the infotainment system with integrated connectivity as well as via the Sono app. Consumption data and vehicle information can be called up on the main display, where central vehicle functions can also be managed. Data concerning the vehicle’s solar range is made available directly on the 7-inch display within the steering wheel area. A private smartphone can be connected to the infotainment system via Apple CarPlay and Android Auto. Phone calls and the availability of one’s own music are guaranteed thanks to a Bluetooth interface.

“In conjunction with sharing services and autonomous driving, the digitalization of mobility and the increasing interconnectivity of vehicles will play a key part in significantly reducing the number of vehicles, especially in urban settings,” says Roberto Diesel, CTO of Sono Motors. He continues: “The avoidance of redundant luxury in the interior equipment and the cost savings through sharing favor the willingness to share the Sion. Thus the vehicle owners and sharing users actively contribute to the improvement of our climate.”

The vehicle is highly versatile as a sharing, private, or company car, and is also suited to being incorporated into neighbourhood concepts and car sharing fleets. The series production version of the family- and commuter-friendly five-door vehicle boasts plenty of footwell and interior space, while the volume of the trunk can be increased from 650 to 1,250 liters of uniform loading space with just a few simple hand movements. A key design element in the cockpit is an organic moss that improves the interior climate and provides ambient lightning.

The Sion is the first production vehicle to bring together solar integration, mobility services, and the option of sharing power via a bidirectional charging function. The seamless integration of solar cells into the vehicle’s surface makes this innovative all-rounder independent of the charging infrastructure over short distances. Up to 5,800 kilometers of free and carbon-neutral range can be generated with the solar integration per year, thereby lowering the cost of running the car.

Series production is scheduled to start in the second half of next year, with a total of 257,000 vehicles being produced. For its rollout, the SEV will be delivered in a version costing 25,500 euros. Other vehicles based on the Sion platform are planned, including for the international market.

Sono Motors Hits 10,000 Mark for Preorders of First Series Production SEV Sion

2019-05-08T00:00:00+02:00

Number of paid preorders has doubled since June 2018. Current reservations represent a total turnover of 214 million euros.

8th May 2019 – The mobility provider Sono Motors today announced that 10,000 reservations have already been placed throughout Europe more than one year before the start of production. The number of people interested in purchasing the first series production solar electric vehicle (SEV) has doubled since last June. Around 87 percent of these preorders were placed in the DACH region (Germany, Austria, and Switzerland); overall, there are potential buyers in more than 20 countries worldwide. The vast majority of these potential buyers are private individuals as opposed to commercial customers and sales partners.

In addition to price, range, and charging infrastructure, which are perceived by consumers to be the biggest obstacles to electromobility, the SEV’s forward-looking concept particularly addresses the issues of climate protection and resource conservation as well as the need to reduce vehicle numbers. Globally, there have been around 79 million new vehicle registrations per annum since 2017. With the sharing options included in the standard setup, a Sion can potentially replace an average of fifteen conventional vehicles, thereby contributing significantly to solving this problem.

“In preordering the Sion, ten thousand people have made a clear commitment to climate-friendly and sustainable mobility,” says Jona Christians, CEO and founder of Sono Motors. “A desire for responsibility toward the environment unites us with all these people. We believe in a world in which every vehicle is powered electrically and is shared. This is the vision that drives us,” he adds.

The idea of initiating change together with others is at the very heart of Sono Motors. The company continues to offer the community to have a stake in Sono Motors and therefore also in its growth and success by means of crowdinvesting. Traditional market research is replaced by community feedback, which then flows into the vehicle’s development. In addition, community votings give prospective buyers the opportunity to decide on the design characteristics and features of the vehicle, including vehicle and wheel colour, charging options and the number of seats in the vehicle. Europe-wide test-drive road shows allowed interested parties to experience the first Sion prototypes up close and get to know Sono Motors in direct dialogue.

The SEV will be manufactured in Sweden by the SAAB successor company National Electric Vehicle Sweden (NEVS). It will be produced exclusively using renewable energies and production is set to commence in the second half of 2020.

Sono Motors to Produce Sion in Sweden

2019-04-17T00:00:00+02:00

First series production SEV to be manufactured at former SAAB plant in Trollhättan.

17th April 2019 – The first series production solar electric vehicle (SEV) developed by the German mobility provider Sono Motors is to be manufactured in Sweden. As Sono Motors officially announced today, the first generation of the Sion will be produced in Trollhättan by National Electric Vehicle Sweden (NEVS). The plant located there was home to the production lines of the long-standing and innovative automobile manufacturer SAAB. In total, an initial 257,000 vehicles will roll off the production line in Trollhättan over an seven-year period. Production will commence in the second half of 2020. After the ramp-up period, approximately 43,000 Sion a year will be manufactured in two-shift operations. Production will be carried out using one hundred percent renewable energy.

“In NEVS, we found the perfect partner for us,” says Thomas Hausch, Chief Operating Officer, Sono Motors. “Together, we share a vision of intelligent and resource-conserving mobility. We also value our partner’s specific expertise based on their many years of experience in traditional automobile development and production in combination with proven expertise in the area of electromobility.”

The innovative vehicle concept of the Sion already represents tomorrow’s mobility today – the aim of which needs to be the reduction of vehicles on the roads through more sustainable and more efficient usage. The Sion will therefore be equipped ex works with integrated sharing options. These enable the owner to share the vehicle itself, individual journeys, or even energy via a mobile application (Sono app), developed by Sono Motors. A bidirectional charging function enables the Sion to both receive and supply electricity, power electrical devices independently, and feed energy to other vehicles or into the electricity grid. Thanks to full-surface solar integration, the vehicle battery can be charged with pure and free solar energy worth up to 35 kilometers’ range per day in addition to its regular WLTP range of 255 kilometers.

For its market launch, the Sion will be rolled out in one single variant version costing 25,500 euros. There are plans afoot to develop other vehicle models based on the vehicle’s platform.

Since the presentation of the prototypes in summer 2017, the Sono Motors team has been going on test drive road shows all over Europe. On the occasion of the cooperation with NEVS, the next road show will take place in Sweden. Sono Motors has so far taken approximately 9,800 partially paid preorders for the Sion.

Sono Motors Presents Design of the Sion

2019-03-04T00:00:00+01:00

Innovative electric car features full-surface solar integration and more space.

4th March 2019 – Sono Motors, the German provider of sustainable mobility concepts and producer of the first series-produced electric car with solar integration, unveiled the first images of the Sion’s series design as part of a broad online release. The focus was placed on the full-surface incorporation of solar modules into the bodywork – one of the vehicle’s unique features that have influenced its design. Thanks to technology developed by Sono Motors, the solar cells meld seamlessly into the vehicle’s surface and can generate up to 35 kilometers of additional range a day at peak performance. This is well above the average distance of 17 kilometers commuters in Germany travel to their workplace.

“After unveiling our first prototype in summer 2017, we continued to develop our solar integration technology, which we have been working on since 2016,” explains Mathieu Baudrit, head of Research and Development, Solar Integration, at Sono Motors. “The production vehicle will feature full-surface integrated solar cells that are embedded in hard-wearing, resilient polymer and that contribute to the vehicle’s design aesthetic thanks to optimized color matching.”

The Sion’s dimensions are increasing. It is becoming larger, longer, and wider, its tail is more emphasized, and it generally looks more elongated. The production version of the Solar Electric Vehicle (SEV) and innovative five-door vehicle will boast a larger footwell and additional interior space. An additional side rear window guarantees an optimum all-round view. The rear will be more stepped and, in combination with the innovative LED rear light design, more three-dimensional.

Sono Motors is involving those who have preordered a Sion in the selection of certain vehicle details by means of community votes, and in doing so is exploring entirely new avenues in the field of vehicle development.

With the Sion, Sono Motors will introduce a carbon-offset electric car and the first mass-produced vehicle featuring solar integration to the market. The vehicle concept revolves around connectivity and intelligent application options. The car features integrated sharing services. An app allows people to share the vehicle itself, rides, and – thanks to a bidirectional charging function – also energy. Sono Motors plans to develop more vehicles based on the Sion platform, for example in the areas of urban mobility, logistics and transport or last mile, including for the international market.

The company has so far taken approximately 9,500 partially paid preorders for the Sion. For its market launch, the vehicle will be delivered in a version costing 25,500 euros.

Sono Motors Awards Major Contract to Continental

2018-11-22T00:00:00+01:00

Long-Term Partnership for Production of the Sion’s Electric Drive Unit

22nd November 2018 – The German mobility provider Sono Motors announced today that it was entering into a cooperation with Continental, the world’s second largest automotive supplier. The long-standing German company’s Powertrain division will build the electric drive unit (EDU) for the Sion, the first series produced e-vehicle with integrated solar cells. This is a long-term partnership between Sono Motors and Continental, extending over the vehicle’s full life cycle.

In addition to the engine, the Sion’s drive unit consists of the power electronics and the transmission. Their integration into a single system unit reduces the size and weight of the drive system, thereby boosting the vehicle’s performance. The drive system, which has already been validated, can be incorporated into the Sion without the need for any additional significant development work and is therefore in keeping with Sono Motors’ innovative carry-over parts strategy.

“Our decision to work with Continental marks the conclusion of another important stage in the preparation of the Sion’s series production. With Continental, we have found an experienced system partner with high automotive standards who shares our enthusiasm for innovative vehicle development solutions and whose name stands for quality and the height of technology around the world,” says Roberto Diesel, CTO of Sono Motors.

The Sion has a battery capacity of 35 kWh. The optimized engine reduces the vehicle’s consumption. The hitherto communicated range of 255 kilometers according to WLTP standard has now also been confirmed in simulations in accordance with the new Worldwide Harmonized Light Vehicles Test Procedure (WLTP) standard as being of 255 kilometers. The choice of a front-wheel drive also further increases drive and recuperation efficiency.

The announcements already made by Sono Motors this year include its partnership with ElringKlinger in the area of battery development and production. Additionally, Sono Motors is developing an innovative and custom LED headlamp concept for the Sion together with Automotive Solutions Germany (ASG), a specialist in the development and mass production of automotive lighting systems. Sono Motors has so far received about 8,800 pre-orders for the vehicle.

Sono Motors Announces New Round of Financing

2018-10-18T00:00:00+02:00

Campaign Generates More Than 5 Million Euros in the First Week

18th October 2018 – A year after the company’s successful first crowdinvesting campaign, the Munich-based mobility provider Sono Motors today announced the start of a second round of financing. The purpose of the campaign is to generate the capital needed for the completion of the series development and manufacturing of the Sion, the first series-produced electric vehicle with solar integration, which is scheduled to go into production in the fourth quarter of 2019.

In the one-week subscription period ahead of today’s official campaign launch, which was reserved exclusively for existing investors and backers, there were subscriptions amounting to no less than 5 million euros via crowdinvesting and other channels.

The concept of the current financing round affords retail and institutional investors access to the campaign via various channels and forms of participation. Using a variety of crowdinvesting platforms, investors can participate in the success of the company via either equity or debt capital. Another investment option is via a special fund from the asset managers CAV Partners, who specialize in renewable energies, and the environmental financial services provider Grüne Sachwerte.

“It is our goal to establish a sustainable company. We believe that, together with our community, we can bring about change. This was confirmed already back in 2016 with our first crowdfunding campaign. We therefore want to continue to give the retail investors and early backers, whose financial involvement and trust played a major part in keeping us going over the past two years, the opportunity to benefit from our company’s growth by means of crowdinvesting,” says Laurin Hahn, CEO and co-founder of Sono Motors.

Another major focus is getting institutional investors on board. Therefore, Sono Motors is engaging in talks with them in the course of the current financing round.

“We have reached some important milestones last year and we succeeded in doubling our enterprise value in next to no time. The funds generated in the current financing round will go toward the finalization of series development and the conclusion of the Sion’s validation phase, and will also be used for the crucial next industrialization steps,” adds Martin Sabbione, CFO of Sono Motors.

Sono Motors currently has more than 8,000 fee-based vehicle reservations, which would equate to an order volume of around 140 million euros. The company has therefore comfortably exceeded its original target of 5,000 reservations.

In addition to the internal teams of experts being expanded in recent months, the management team was expanded in order to advance the company’s development. Thomas Hausch (Nissan, Daimler) assumed the position of COO, while Isa Krupka (Van Eck, STOXX, Dow Jones) was appointed to the management as CCO.

Sono Motors announces Dutch market entry

2018-08-16T00:00:00+02:00

37 event days planned in 18 cities in the Netherlands and the core market of Germany, comprising some 3,500 test drives.

16th August 2018 – Just a few weeks after the conclusion of a test drive tour around Europe lasting several months, the Munich-based mobility provider Sono Motors has announced another series of test drives of the Sion electric car encompassing a total of 18 cities in the Netherlands and Germany. This is the company’s response to the increasing interest being shown in its sustainable mobility concept by a growing community. The series of events will get under way in Fürth on 1 September and the Netherlands part of the tour will start in Maastricht on 7 September.

The compact car Sion is an electric vehicle with solar modules incorporated into the bodywork that use the sun to generate a range of up to 30 kilometers a day – self-charged and in addition to its basic range of 255 kilometers according to WLTP standard. With a range that is suitable for daily use, a purchase price of 16,000 euros (not including the battery) and the integrated sharing functions, the vehicle is designed to appeal in particular to families and city commuters. So far, the company has received approximately 7,000 vehicle reservations.

‘We passed the 5,000 reservations mark in June, thereby wrapping up a crucial phase,’ says Laurin Hahn, CEO and one of the founders of Sono Motors. ‘This tour is our way of catering to the overwhelming demand for test drives. We will therefore be offering additional test drives in our core market of Germany again on our way to the Netherlands. The Netherlands itself is a very interesting market for us as it is considered a pioneer in the field of electromobility. We therefore believe there is a great deal of potential for an electric car like the Sion and we look forward to entering the market,’ Hahn adds.

Anyone interested in getting behind the wheel of the Sion and meeting the team can register for their preferred date on the Sono Motors website. There will be two prototypes and an eight-strong team present at each of the event days to provide information on the car and the company, solar integration and the mobility and sharing functions.

In all, approximately 3,500 test drives will be conducted in the following cities during the tour:

Fürth (1–2 September 2018), Darmstadt (3–4 September 2018), Siegburg (Bonn) (5–6 September 2018), Maastricht (7–8 September 2018), Eindhoven (9–10 September 2018), Delft (11–12 September 2018), Almere (13–14 September 2018), Groningen (15–16 September 2018), Hengelo (19–20 September 2018), Detmold (21–22 September 2018), Hildesheim (23–24 September 2018), Göttingen (25–26 September 2018), Fulda (27–28 September 2018), Heilbronn (29–30 September 2018), Memmingen (3–4 October 2018), Weilheim / eRUDA (5 October 2018), Passau (9–11 October 2018) and Munich (13 October 2018).

Solar Car “Sion” on test drive tour throughout Germany

2018-05-15T00:00:00+02:00

Due to high demand: 17 test drive tour stops in Germany with the solar car Sion.

15th May 2018 – Sono Motors, a young automobile company from Munich, will be taking its innovative and family-friendly solar car Sion on a Germany-wide test drive tour, starting May 15th. The compact van will be available for test drives in 17 cities.

The Sion is a self-charging electric car with integrated solar cells in the body, which can feed up to 30 kilometers of solar energy into the battery every day. Thanks to a battery range of 255 kilometers according to WLTP standard, a purchase price of 16,000 euros (without battery) and integrated sharing services, the vehicle will appeal particularly to families and city commuters. According to the company, more than 4,000 cars have already been reserved.

"A week before the start of the tour, more than two and a half thousand people had already registered for a test drive," explains Anne-Sophie Scharrer, Tour Manager at Sono Motors. "After our tour across Italy, Austria, and Switzerland, the demand for further test drives in Germany has increased tremendously.

"This shows us how immensely the general interest in climate-friendly mobility is growing in this country," says Navina Pernsteiner, co-founder of the young company from Munich. "We want to make electromobility suitable for everyday use, while promoting resource-conservation and climate-friendliness. It is time to finally make a difference in this area. In our view, price, range and everyday practicality are the most important criteria for this."

Whether the Sion meets these criteria sufficiently or not can be found out from May 15th in Friedrichshafen on Lake Constance. Afterwards, Sono Motors plans on making 16 additional stops all over Germany.

All dates at a glance:

Friedrichshafen (15 - 16.05.2018), Freiburg (17 - 18.05.2018), Ludwigsburg (19 - 20.05.2018), Mannheim (21 - 22.05.2018), Limburg an der Lahn (23 - 24.05.2018), Cologne (25 - 26.05.2018), Gelsenkirchen (27 - 28.05.2018), Oldenburg (29 - 30.05.2018), Enge-Sande (02. - 03.06.2018), Lübeck (04. - 05.06.2018), Potsdam (06. - 07.06.2018), Leipzig (08. - 09.06.2018), Erfurt (10. - 11.06.2018), Würzburg (12. - 13.06.2018), Ulm (14. - 15.06.2018), Kempten (16. - 17.06.2018), Regensburg (18. - 19.06.2018)

Sono Motors – Press Releases

Promising restart: Sono Motors signs investor deal for its solar integration business, on its path to finalizing restructuring.

Solar technology company Sono Motors is looking to the future with new funding commitments

Investor deal positions Sono Motors to obtain sufficient financing for business operations through at least the end of 2024

Vast majority of employees that were given notice at the end of October as part of the insolvency proceedings are back on board

Restart supported by a completely new management team of Sono Motors GmbH

Sono Motors expects to emerge stronger from insolvency proceedings and can now fully focus on realizing its vision of "solar on every vehicle"

Sono Motors presents innovative solar solutions for sustainable bus transport at Busworld Europe 2023

Sono Motors to exhibit at Busworld Europe 2023 in Brussels from October 7-12

The focus of the trade show is on the shift to electromobility and the reduction of CO2 emissions from bus traffic

Sono Motors will present the Solar Bus Kit, an innovative solar retrofit solution specifically for buses.

Sono Group N.V. presents three new members of its Supervisory Board

Three professionals with extensive business and corporate management experience have been appointed

Sandra Vogt-Sasse has been appointed Chair of the Supervisory Board. Thomas Wiedermann becomes Vice-Chair

Sono Group Receives Additional Staff Determination Letter from Nasdaq

Opening of the self-administration proceedings of Sono Motors GmbH

The self-administration proceedings of Sono Motors GmbH were opened as planned on September 1, 2023

The business operations of Sono Motors GmbH will continue unchanged under the self-administration proceedings

Sono Motors GmbH is still in negotiations with several potential investors

Pilot project launched: Sono Motors and ÖPNV-Service Hagen equip first vehicle of Bavarian HofBus GmbH with Solar Bus Kit

Mercedes-Benz Citaro C2 equipped with 16 semi-flexible photovoltaic panels

Further weight reduction through first-time use of robust double-sided tape

Pilot project marks important step towards reducing CO2 emissions of local public transportation in Hof

Sono Group Receives Notice of Delisting from Nasdaq

Innovative solar technology: Sono Motors and pepper motion win busplaner Innovation Award 2023

Solar Bus Kit beat out competitors in the "air conditioning, heating and battery management" category

Decisive milestone in two-year test phase of the first E-bus with integrated Solar Bus Kit

Sono Motors GmbH filed for protective shield proceeding

Restructuring of Sono Motors GmbH in the upcoming protective shield proceeding with the support of Dentons' restructuring experts

Business operations will continue within the framework of the protective shield proceeding

Following Pivot Members of Sono Group N.V.’s Supervisory Board Resign

On 24 February 2023 Sono Group N.V. Committed to Focus Exclusively on Solar Business for B2B Customers, And Terminated the Sion Passenger Car Program

Against This Background, Members of Its Supervisory Board Have Resigned

Sono Motors Announces It Has Signed With a Second Passenger Car Manufacturer

Sono Motors Signs Purchase Order With a Second Automotive Passenger Car Manufacturer

Solar Technology Allows Convenience for Car Owners, Grid-Independent Charging, and a Reduction of Running Costs

Sono Motors Focuses on Retrofitting and Integrating Its Solar Technology Onto Third Party Vehicles in Four Core Industries: Passenger Vehicles, Buses, Refrigerated Vehicles, and Recreational Vehicles

Company Now Has Total of 25 Non-binding Letters of Intent, Purchase Orders or Customer Contracts

Sono Motors Commits to Focus Exclusively On Solar Tech Company, and Has Terminated the Sion Program

Sono Motors Commits to Focus Exclusively on Solar Business for B2B Customers, And Has Terminated the Sion Passenger Car Program

Solar Technology Has Been Engineered to Enable Integration With a Wide Range of Vehicles, Including Buses and Trucks; Already Acquired 23 Customers To-Date

Solar Solutions, Including Hardware Such as Power Electronics and Software, Benefit Fleet Operators by Saving Fuel and Costs and Reducing CO2 Emissions

Sono Motors Recently Secured Funding From EU Commission Granted Project for its Solar Technology

Given the Capital-Light Nature of the B2B Solar Business, the Company’s Funding Needs Are Expected to Decrease Materially

Talks With Potential Investors to Focus on ‘Solar Only Business’

Termination of Sion Passenger Car Program Positions the Company to Implement Significant Cost Reduction Measures

Sono Motors Demonstrates Solar Integration in Initial Sion Crash Test

Test Program Continues to Meet Sono Motors’ Expectations Regarding Crash Safety of the Sion and Robustness of Proprietary Solar Integration

Solar Panels Behave as Predicted: No Splinter and Thus No Additional Risk to Passengers and Other Road Users, According to Initial Complete Vehicle Crash Test

Safety as a Standard: Every Sion Will be Equipped With Multiple ADAS Features at No Additional Cost

Future-Proof: Over-the-Air Update Is Planned to Deliver Adaptive Cruise Control Feature in the Future

Sono Motors Extends Campaign As Talks With Potential Investors Progress: The Future Is Worth Fighting For

Campaign Is Extended For a Month Until 28 February 2023 As Talks with Potential Investors Progress

As of Today, More Than €47 Million Committed From Over 8,600 Community Members And Additional Sources

Europe-Wide Tour with More Than 5,000 Visitors - Sono Motors Announces 12 Additional Sion Tour Stops

Sono Motors Secures Funding From EU Commission Granted Project for Solar Technology

Sono Motors Has Already Received €532,441 of €1.46 Million in Funding, the Remainder of Which Will Be Paid in Future Installments

The Company Will Provide Knowledge and Expertise to the ‘SEAMLESS-PV’ Project As Well As Application of Its Proprietary Technology Into Various Vehicle Architectures

Sono Motors Now Has a Total of 50 Patents Granted or Filed, 42 of Which Are for the Company’s Proprietary Solar Technology

Sono Motors Progresses Towards Pre-series With Solar EV and Reaches Over €40M Payment Commitments in Ongoing #savesion Campaign

Over 44,000 Reservations for Sono Motors Sion, as of 16 January 2023

The Company Has Already Received Over €40m in Customer Commitments Within the Last Weeks

Ahead of Pre-series Production, Sono Motors Confirms Its Unique Technological Features Solar Charging and 3-Phase Bidirectional Charging in Real-Life Tests

International Testing and Series-Validation Program Is Progressing Quickly, Including Durability Testing in Spain, as Well as WLTP Drive Cycle Tests

First Production Trials With Series Tooling, Such as the Injection Molding for the Solar Body Panels, Have Commenced

1,000 Mark Reached: Sono Motors Makes Significant Progress Towards Achieving Its Goal of 3,500 Fully Paid Sion Reservations

The #savesion Campaign of Munich Solar Mobility OEM Sono Motors Registered a Total of 1,000 Fully Paid Reservations for the Sion, the Company’s Solar Electric Vehicle

The 50-Day Campaign Was Launched on 8 December and Aims at Raising Approx. €100m Gross From Paid Reservations or Other Investments to Continue the Sion Program

Laurin Hahn, Co-founder and CEO: “Sion Development Program Is Well Advanced”

Winter Test With Series-Validation Vehicle Affirms Potential for 5,800 km Yearly Average Solar Range in Munich Due to Unique Integration of Solar Panels into the Entire Car Body

While the Campaign Is Running, the Sion Is on Tour in Germany, Austria, Switzerland, and the Netherlands

Decisive Year for Sono Motors

First Annual General Meeting Held in Amsterdam, Netherlands

Substantial Increase in Solar Business; 23 International Partners in Total

More Than 42,500 Sion Reservations and Pre-Orders

240% Growth in Patents, 34 Granted or Filed in Total

Significant Growth Reflected in Financial Results

Appointment of Arnd Schwierholz As Member of the Supervisory Board of the Company

Most important strategic decision in Sono Motor’s history: Community to decide about the future of the Sion, the solar-electric passenger car.

MUNICH, Germany, 8 December 2022 – Jona Christians and Laurin Hahn, CEOs and co-founders of Sono Motors, make statement regarding the #saveSion campaign.