Sono Motors Reaches 14,000 Reservations Worth Over $350 Million

MUNICH, Sept. 1, 2021 /PRNewswire/ -- The mobility provider Sono Motors has announced the achievement of reaching 14,000 private reservations of its Sion, the world's first Solar Electric Vehicle (SEV) for the masses, with an average down-payment of $3,300. Even prior to the commencement of production, the company booked a total order value of more than $350 million. With the Sion, Sono Motors aims to be an attractive price-value leader in the medium size segment, at an estimated net sales price point of just $25,670.

Pre-orders of the Sion continue to be predominantly placed in Germany and the DACH (Germany, Austria and Switzerland) region, but the company is also registering increasing numbers from countries such as France, the Netherlands, Italy, Spain and Portugal. The Sono Motors Community created this interactive map showing the geographical distribution of the reservations made.

"14,000 reservations, with an average down payment of $3,300, is unequivocal proof that the Sion both is wanted and needed. Virtually every car we will produce in the first year of production is already reserved by customers. We want to bring the Sion to the streets as soon as possible to meet the people's desire for a resource-friendly and affordable mobility solution," emphasizes Laurin Hahn, CEO and co-founder of Sono Motors.

The Sion is expected to have the lowest TCO (total cost of ownership) in its category at the commencement of production, scheduled for the first half of 2023. Production of the Sion will take place in Trollhätten, Sweden, in the former SAAB plant in cooperation with partner NEVS. After the commencement of production alongside the increase to maximum capacity within the same year, the company intends to produce 43,000 vehicles per year in a 2-shift operation. Sono Motors is currently planning a production volume of 257,000 Sion vehicles over the first full lifecycle.

About Sono Motors

Sono Motors is on a mission to enable a revolutionary mobility system, where every electric vehicle is solar, shared, and independent from fossil-fuels. Today, an experienced specialist team is developing a forward-looking electric car that is suitable for daily use, the Sion. Both the Sion's integrated solar technology and innovative mobility services will enable users to access clean mobility, harness solar energy and reduce CO2 impacts.

Sono Motors was founded in 2016 and has rapidly grown to more than 200 employees today. The team combines a range of burgeoning global talent with industry veterans, including former employees from BMW, Nissan, Chrysler, Daimler, Audi, Mozilla, Sixt, FlixBus and mytaxi. Since its foundation, the company has raised approximately €100 million through reservations and funding. The company released its first generation Sion prototype in 2017 and has amassed 14,000 reservations with advance payments. In 2018, Sono Motors was recognized as a Solar Impulse Efficient Solution by the Solar Impulse Foundation. In January of 2020, Sono Motors successfully closed one of the largest community crowdfunding campaigns in Europe.

Sono Motors' Sion intends to blend disruptive technology with affordability to enable individual contribution to global sustainability. The Sono solar technology replaces traditional paint with proprietary integrated solar panels that can form to various applications. Additionally, the Sion's solar panels can add 112 km or 70 mi on average (up to 245 km or 152 mi) of additional driving range per week to the car's battery. The Sion is expected to have the lowest TCO (total cost of ownership) in its category at the start of production, which is scheduled for the first half of 2023.

Website: www.sonomotors.com

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SOURCE Sono Motors

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