Sono Motors was once a favorite of investors. Munich’s founding members and co-managers Laurin Hahn and Jonas Christians have managed to raise 400 million euros in capital since 2016, according to their own statement. But meanwhile, the share price has dropped from 20 to less than one euro.
The planned solar car Sion was supposed to go into mass production in 2019 – Blick used a prototype in 2017. But there were always setbacks. “And also management errors,” as Laurin Hahn and Jonas Christians admitted in the video released last week and their written appeal to their community. Sono Motors has lost more than €100 million by the end of September this year alone and now needs fresh money again to be able to build the pre-series in 2023 and the first car in the big series in early 2024. .
“We failed to explain to our investors why the Sion has the potential to become the world’s first affordable solar electric car,” the two co-founders wrote in their video messages. The last chance is for 3,500 customers to prepay the reduced purchase price of 27,000 euros for their cars – otherwise the project would have failed. Around 21,000 private customers have already made reservations and have paid an average of 2,000 Euros in advance. There are also pre-orders for 22,000 solar cars from fleet operators.
Sun chariot Sion it’s too late
The 456 solar cells in Sion’s body should provide enough electricity for a trip of about 112 kilometers per week. Had the compact electric car debuted in 2019 as planned, it might have a chance to become a pioneer of electromobility. But meanwhile, with its modest 300-kilometer range on a single battery charge, its rather bland design and scant equipment, the Sion looks completely outdated compared to current electric vehicles from major manufacturers.
And so the project is absolutely dead after a good six years. Even if the two co-founders don’t want to admit it. They set themselves a 50-day deadline until the end of January for the final Sion rescue attempt. But they also say: “Many investors are recommending that we focus on our less capital-intensive B2B solar business, which is already generating sales. And give up on the Sion car project.” Sono Motors now also offers solar solutions for buses and trucks, which actually looks like a more lucrative business than the Sion lighthouse project.