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Electric car startup Sono Motors receives another 5 million euros in crowdinvesting

Electric car startup Sono Motors receives another 5 million euros in crowdinvesting

#MechCrunch


[18.10.2018] The electric car startup Sono Motors has in a new round of financing 5 million in the first week by crowdinvesting and
achieved other channels.

Electric car Sono Motors Sion at an event in Munich. Source: Sono Motors
Electric car Sono Motors Sion at an event in Munich. Source: Sono Motors

Sono Motors wants to bring an electric car on the market, whose appearance has solar cells. These are to ensure that the Stromer is supplied with additional energy per day for up to 30 kilometers.
But you can charge the electric car Sono Motors Sion also normally by plug, the range is up to 250 kilometers – the purchase price is relatively cheap with 16,000 euros.

One year after the successful completion of the company's first crowdinvesting campaign, Munich-based mobility provider Sono Motors today announces the start of another round of financing. The campaign is expected to generate investment capital for the completion of series development and the production of the first solar-integrated, mass-produced electric vehicle scheduled to begin production in the fourth quarter of 2019.
In the one-week private subscription period prior to today's official campaign launch, which was reserved exclusively for existing investors and supporters, over 5 million euros have been subscribed via crowdinvesting and other channels.

The concept of the current financing round gives retail investors and professional investors access to the campaign through various channels and forms of participation. Through various crowdinvesting platforms, investors can participate in the company's success either through equity or debt capital. Another option is the special fund of the renewable energy and sustainable investment specialist CAV Partners and the green financial services provider Grüne Sachwerte.

Laurin Hahn (CEO and co-founder of Sono Motors) says:


"Our goal is to build a sustainable business. We believe we can make a difference with our community. This was confirmed in 2016 by our successful crowdfunding campaign. That's why we want to continue to give all supporters crowd-investing the opportunity to participate in the growth of our company. "

In addition, there is a significant focus on the involvement of institutional investors with whom discussions are taking place in the context of the current round of financing.

Martin Sabbione (CFO of Sono Motors) adds:

"We achieved important milestones last year. So we succeeded in doubling the company value in a short time. The funds from this
Financing round will flow into the finalization of the series development and the completion of the validation phase of the Sion and beyond
finance crucial next steps of industrialization. "

Sono Motors currently has more than 8,000 paid vehicle reservations, which would correspond to an order volume of around 140 million euros. Thus, the company has clearly surpassed the original goal of 5,000 reservations. In addition to the expansion of the internal team of experts, the management has been expanded in recent months to further develop the company. In addition to Thomas Hausch (Nissan, Daimler) in the position of COO, Isa Krupka (Van Eck, Dow Jones) was appointed as CCO in management.

Suitable vehicles

The electric car Sion Sono Motors can also serve as a power generator in camping. Source: Sono Motors

Electric car Sion from Sono Motors

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