Sono extends funding campaign for the Sion EV until 28 February

The Munich-based solar mobility solutions provider Sono Motors 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.

Blagojce Krivevski

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