Sono Motors extends community campaign until February 28

Sono Group announced an extension of its special community campaign. More than EUR 47 million has been committed in the #savesion campaign from over 8,600 community members and other sources since early December. The ongoing campaign underscores the uniqueness of Sono Motors as a true community brand. Before the start of the campaign, Sono Motors had already received in total approximately 21,000 private reservations with advance payments. During the campaign, Sono Motors received over 1,500 new private reservations with deposit commitments. The campaign began on 8 December 2022 and will now be extended by approximately one month to 28 February 2023. In response to demand, Sono Motors also announced 12 additional stops for the Sion tour, which already enabled approximately 5,000 people in 13 different European cities to get a first-hand experience of the Sion – Sono Motors’ affordable solar electric vehicle. The goal of the campaign is to raise approximately EUR 105 million. If the goal is not achieved, Sono Motors currently intends to halt the development of the Sion and will instead focus on its solar technology business, which is significantly less capital intensive. In addition, Sono Motors recently secured EUR 1.46 million in funding from the European Climate, Infrastructure and Environment Executive Agency to advance the development of the Company’s proprietary solar technology, further evidencing the Company’s in-depth technological expertise and knowledge. While the campaign has progressed, the Company has been also making significant progress on its testing and series-validation program for the Sion, remaining on track technologically to start pre-series production in the summer of 2023.