Sono Motors Extends the Community Campaign Until 28 February 2023
26 Janvier 2023 - 3:00PM
The Munich-based solar mobility solutions provider Sono Group N.V.
(NASDAQ: SEV) (“Sono Motors” or the “Company”) today announced an
extension of its special community campaign (“#savesion”). More
than €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 €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 €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.
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.
NOTES
The above mentioned CINEA funds will be strictly used only for
SEAMLESS-PV project activities as agreed with the project partners
and the European Commission and won't be used in any other
activities.
Reservations can only be made by persons located in 27 European
jurisdictions. We do not accept reservations from persons located
in any other country. We also do not accept reservations from U.S.
persons. This document is for information purposes only.
ABOUT SONO MOTORSSono Motors (NASDAQ: SEV) is on a pioneering
mission to accelerate the revolution of mobility by making every
vehicle solar. Sono Motors’ disruptive solar technology has been
engineered to be seamlessly integrated into a variety of vehicle
architectures — including buses, trucks, trailers, and more — to
extend range and reduce fuel costs as well as the impact of CO2
emissions, paving the way for climate-friendly mobility.
The Company’s trailblazing vehicle, the Sion, has the potential
to become the world’s first affordable solar electric vehicle (SEV)
for the masses. Empowered by a strong global community, Sono Motors
has approx. 21,000 reservations with advance deposits for the Sion
as of 30 November 2022.
PRESS CONTACT Christian Scheckenbach |
press@sonomotors.com | www.sonomotors.com/press
FORWARD-LOOKING STATEMENTSThis press release includes
forward-looking statements. The words "expect", "anticipate",
"intend", "plan", "estimate", "aim", "forecast", "project",
"target", “will” and similar expressions (or their negative)
identify certain of these forward-looking statements. These
forward-looking statements are statements regarding the Company's
intentions, beliefs, or current expectations. Forward-looking
statements involve inherent known and unknown risks, uncertainties,
and contingencies because they relate to events and depend on
circumstances that may or may not occur in the future and may cause
the actual results, performance, or achievements of the Company to
be materially different from those expressed or implied by such
forward looking statements. These risks, uncertainties and
assumptions include, but are not limited to (i) the impact of the
global COVID-19 pandemic on the global economy, our industry and
markets as well as our business, (ii) risks related to our limited
operating history, the rollout of our business and the timing of
expected business milestones including our ability to complete the
engineering of our vehicles and start of production on time and
budget and risks related to future results of operation, (iii)
risks related to our unproven ability to develop and produce
vehicles and with expected or advertised specifications including
range, and risks relating to required funding, (iv) risks related
to our ability to monetize our solar technology, (v) risks relating
to the uncertainty of the projected financial information with
respect to our business including the conversion of reservations
into binding orders, (vi) effects of competition and the pace and
depth of electric vehicle adoption generally and our vehicles in
particular on our future business and (vii) changes in regulatory
requirements, governmental incentives and fuel and energy prices.
For additional information concerning some of the risks,
uncertainties and assumptions that could affect our forward-looking
statements, please refer to the Company’s filings with the U.S.
Securities and Exchange Commission (“SEC”), which are accessible on
the SEC’s website at www.sec.gov and on our website at
ir.sonomotors.com. Many of these risks and uncertainties relate to
factors that are beyond the Company's ability to control or
estimate precisely, such as the actions of regulators and other
factors. Readers should therefore not place undue reliance on these
statements, particularly not in connection with any contract or
investment decision. Except as required by law, the company assumes
no obligation to update any such forward-looking statements.
Sono Group NV (NASDAQ:SEV)
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