Munich-based Sono Motors launches financing round

After its first crowdfunding campaign back in 2016, Munich start-up Sono Motors launches its second round of financing in order to generate capital for the last development stage and production of the company’s solar electric car Sion, which is scheduled to start rolling off the lines in late 2019.

In the one-week private subscription period prior to today’s official campaign launch, which was reserved exclusively for existing investors and supporters, over 5 million euros have already been subscribed via crowd investing and other channels.

The Sion comes with solar modules incorporated into the bodywork that generate a range of up to 30 kilometres a day, in addition to its basic range of 250 kilometres. The price of 16,000 euros (not including the battery) is a particularly unique selling point though. Plus, the electric vehicle has integrated sharing functions.

To date, the company says it has received more than 8,000 reservations for the electric car, what would go along with an order volume of approximately 140 million euros. The production of the Sion EV will be executed by a yet-unnamed European contract manufacturer.

In July, Sono Motors has reinforced its board that now comprises of six members, among them experienced executives. New COO is Thomas Hausch, last responsible for e-mobility at Nissan with previous roles at Daimler and Chrysler. Isa Krupka has joined as Chief Communications Officer (CCO) reportedly. Most recently, the company announced also its entry into the Dutch market. A series of test ride events for the Sion marked the start.
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