Munich-based mobility provider Sono Motors raises €53M in community funding

Last year around December 2, the German mobility provider Sono Motors launched one of the biggest community funding campaigns to generate €50 million to develop production facilities for prototypes of the first solar electric vehicle (SEV): the Sion.

Achieved the €53M!

In the latest development, the company has completed the funding campaign with €53 million, exceeding its target by €3 million. As per the company claims, an average of €1 million a day has been invested in the campaign over 50 days. Out of these, around 75% stems from reservation holders of the Sion, 19% from existing and new investors, and 6% from loans and donations.

Laurin Hahn, CEO, and co-founder of Sono Motors said:

€53 million, invested by the centre of society, for the forward-looking and sustainable mobility concept of a start-up is a clear signal, also directed at politicians to make adjustments. Electromobility and the support of young companies in Germany have to be pursued faster and more vigorously. We at Sono Motors now see it as our responsibility to live up to the trust placed in us by our supporters. Together with the community, we will continue on our path to bring the Sion into production as quickly as possible.

According to the company, this funding will be used to finance the construction of series prototypes and to set up production. It’s worth mentioning that Sono Motors plans to produce a total of 260,000 Sion over a period of eight years at the former Saab plant in Trollhättan, Sweden. The company currently has 13,000 reservations for the Sion.

Electric car partially powered by solar panels

For the uninitiated, Sion is an electric car partially powered by solar panels on the vehicle. Interestingly, this car comes equipped with both battery pack and 248 integrated solar cells that can charge the car. The Sion’s liquid-cooled battery has a capacity of 35 kWh, which enables you to drive 250 kilometers on a single charge. Also, it comes with an 80 kW motor that allows a maximum speed of up to 140 kph.

Founded by Laurin Hahn in 2016, the Munich-based Sono Motors aims to end the usage of fossil fuels in exchange for sustainable mobility.

Main image credits: Sono Motors

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