E-car manufacturer Sono Motors reaches crowdfunding target

January 20, 2020 //By Christoph Hammerschmidt
E-car manufacturer Sono Motors reaches crowdfunding target
The start-up company Sono Motors has managed to raise €50 million in capital through crowdfunding in a short period of time. This removes an important obstacle in the way to the series production of the Sion electric vehicle.

Sono Motors’ first product, the Sion e-car is primarily designed for car sharing applications and is to be delivered with the appropriate software. In addition, the developers of the electric car have come up with a special highlight: Thanks to solar cells in the car body, the Sion can travel distances of up to 34 kilometers on pure solar energy. In addition, like other electric cars, it can be recharged at the socket. 10,000 interested parties have already ordered the car, which is available for around €25,000, the company announced. Series production is scheduled to start in 2022.

This is already the second major crowdfunding campaign by Sono Motors. Founded in 2016, the company had gotten off to a good start with this type of financing, brought in private investors and secured contracts for contract manufacturing at the former Saab factory in Trollhättan.

But then Sono backed out of the financing round for the series production: Sono had broken off negotiations with financial investors for a further round of financing in December of last year, which it said had reached an advanced stage, and at the same time announced the €50 million crowdfunding campaign.

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