Milestone Achieved: Organization Advances Substantially in Pursuit of Objective – Securing 1,000 Fully Paid Sion Reservations out of a Targeted 3,500
In a significant milestone for sustainable mobility, Sono Motors, a Munich-based automaker, has secured over 1,000 fully paid reservations for their solar electric vehicle, the Sion, during their #savesion campaign. The campaign, primarily driven by crowdfunding, raised approximately €50 million ($59 million) in January 2020, making it one of the highest-funded crowdfunding projects in the automotive sector.
The success of the campaign can be attributed to several key factors. As an independent automaker, Sono Motors leveraged direct engagement with supporters who were passionate about sustainable transportation and solar electric vehicles. The innovative product offering of the Sion, which integrates solar panels directly into the vehicle, provided a unique value proposition that attracted environmentally conscious buyers. The campaign was structured to encourage fully paid reservations, not only raising capital but also demonstrating customer commitment and demand.
Public visibility and social media outreach likely boosted awareness and motivated early adopters to secure their reservations early, supporting the project’s continuation and production. After the start of production, a planned OTA software update will enable the Sion to charge with up to 11 kW AC.
Sono Group's disruptive solar technology is engineered to be seamlessly integrated into various vehicle architectures, including third-party OEM cars, buses, refrigerated vehicles, and recreational vehicles, making it a versatile solution for the future of mobility. The Sion is currently on a test-drive tour through 12 cities in Germany, Austria, Switzerland, and the Netherlands.
In a solar winter test, the Sion achieved a calculated 28 km of pure solar range per week, which is 80% of the expected winter solar yield, about a year ahead of planned production. The unique integration of solar modules into the entire body of the Sion confirms the potential for an average of 5,800 km annual solar range in Munich.
Bidirectional charging is functional in the Sion, with a bidirectional charging output of 8 kW AC between a Sion and an unmodified series EV during the first test cycles. The company has raised over €330 million via investors and financial instruments since 2016, with less than 0.5% of these funds provided by the government.
While Sono Group's mission does not specifically mention raising funds or receiving reservations like Munich Solar Mobility OEM's #savesion Campaign, Sono Group's N.V. (OTCQB: SEVCF) is on a mission to accelerate the revolution of mobility by making every vehicle solar. Investor relations and press inquiries can be directed to the company's website.
The Sion's development program is reportedly well advanced, as confirmed by Laurin Hahn, co-founder and CEO of Munich Solar Mobility OEM. Reservations can only be made by persons located in 27 European jurisdictions and not from persons located in any other country or U.S. persons. The #savesion Campaign aims at raising approximately €100m gross from paid reservations or other investments.
For those interested in reserving the Sion, the vehicle can be found on tour in various cities across Europe. For more information, visit Sono Group's website.
- The crowdfunding success of the Sion, an innovative solar electric vehicle by Sono Motors, also demonstrates the potential for technology-driven business initiatives in the finance sector, as the campaign raised approximately €50 million ($59 million), making it one of the highest-funded crowdfunding projects in the automotive industry.
- As Sono Group plans to integrate its disruptive solar technology into various vehicle architectures, including third-party OEM cars, buses, refrigerated vehicles, and recreational vehicles, the versatile solution may attract significant investments from financial institutions seeking to support sustainable business ventures in the technology and mobility sectors.
