Sono Motors Progresses Towards Pre-series With Solar EV and Reaches Over €40M Payment Commitments in Ongoing #savesion Campaign

  • Over 44,000 Reservations for Sono Motors Sion, as of 16 January 2023 

  • The Company Has Already Received Over €40m in Customer Commitments Within the Last Weeks

  • Ahead of Pre-series Production, Sono Motors Confirms Its Unique Technological Features Solar Charging and 3-Phase Bidirectional Charging in Real-Life Tests

  • International Testing and Series-Validation Program Is Progressing Quickly, Including Durability Testing in Spain, as Well as WLTP Drive Cycle Tests

  • First Production Trials With Series Tooling, Such as the Injection Molding for the Solar Body Panels, Have Commenced

MUNICH, Germany, 17 January 2023 – Solar mobility OEM Sono Motors (subsidiary to Sono Group N.V.; NASDAQ: SEV) is making great progress in the testing and series-validation program of its solar electric vehicle Sion, and is technologically on a fast track to pre-series production, which is planned in summer 2023. Over 8,000 people have already participated in the ongoing #savesion campaign, by either placing a new reservation for a Sion or increasing their deposit. 

Over €40m in Customer Commitments Already Received During #savesion Campaign
As of today, the more than 44,000 Sion reservations include ~21,000 private reservations with deposit, ~22,000 non-binding B2B pre-orders and more than 1,000 new private reservations with deposit commitment made in the course of the #savesion campaign. The Company therefore has already received payment commitments from its Community worth over €40m, to decrease the funding gap until pre-series production. This support is making it conceivable that Sono Motors achieves its target of about €100m gross in new or increased reservation deposits, investments, or other sources of funding within the next few weeks.

“Several thousand supporters have already made this campaign one of the largest in Europe and are sending a clear signal that they want the Sion, an affordable alternative to bulky and expensive e-SUVs. Also, that a climate-friendly mobility revolution in Europe is both needed and wanted. At the same time, we believe the €40m sum in new reservations sends a strong message to investors and we have received positive feedback since announcing the campaign. We are in ongoing talks with potential investors and feel confident that we will reach the target and proceed with the Sion program. We need a final push, more thought leaders to stand up and fight for this revolution together,” says Laurin Hahn, CEO and co-founder of Sono Motors.

Durability Testing in Spain
Sono Motors’ affordable solar electric vehicle, Sion, recently completed handling and comfort suspension tuning and road load data acquisition, and is now undergoing durability testing in Spain. The Sion is being tested at the Applus IDIADA test track to complete the accelerated durability test cycle on the proving ground in various rough road conditions, equivalent to 150,000 km of customer usage. These tests will confirm the complete vehicle’s structural durability as part of the Sion’s extensive and uncompromising test program, currently involving 18 complete vehicles and several bodies-in-white in the U.S., Germany, Sweden, Italy, and Hungary. Watch the footage of the durability test in Spain here.

Solar Charging Under Real-Life Winter Conditions Confirmed
Beyond the durability testing, Sono Motors recently confirmed the Sion’s solar charging capability during a real-life test in December, the month with the least amount of daylight in Europe. The car reached a calculated 28 km of pure solar range per week. Therefore, the Sion was already able to achieve 80% of the expected winter solar yield about a year ahead of planned production. This test, undertaken using a series-validation vehicle, confirms the potential for an average of 5,800 km annual solar range in Europe, thanks to the unique integration of the solar modules into the entire body. More details of the winter solar charging test in this video.

3-Phase Bidirectional Charging Successfully Tested
Sono Motors successfully tested the vehicle-to-vehicle (V2V) charging technology using 3 phase at 13 amps with limited amperage during various test cycles. This resulted in a bidirectional charging output of 8 kW AC between a Sion and an unmodified series EV. By the start of production, the Sion is expected to be able to charge other devices with up to 11 kW AC. Watch the bidirectional charging testing video here.

Sion’s Efficiency Confirmed in First Series of WLTP Tests
Following so-called ‘coastdown’ testing in Spain, to validate the Sion's driving resistances and vehicle performance simulation models, the Sion drove a wide variety of drive cycles on test benches in Sweden and Germany, including WLTP tests. The car surpassed the WLTP range target of 305 km on a single battery charge of 54 kWh, overachieving the advertised vehicle range. Based on this performance, Sono Motors expects to confirm a modest range increase before the start of production, due to consequent improvement in the Sion’s efficiency. In addition, the car is expected to achieve about 112 km of emission and cost-free range on average per week through the power of the sun in Europe.

Production Trials With Series Tools Commenced
While the testing and validation program continues, Sono Motors and its partners have already finished building many component production tools for exterior and closures, as well as run initial production trials. These include the crucial injection molding tools for the solar panels and dozens of other series hard tooling. The Company plans to have the first Sion pre-series vehicles built using series tools at its production partner Valmet Automotive in Finland in the second half of 2023.

NOTES
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.

This press release is not for publication or distribution, directly or indirectly, in or into the United States of America. This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer and that will contain detailed information about the company and management, as well as financial statements.

Solar range calculations are based on WLTP range and the solar yield from the European market average, open field, and a typical meteorological year weather data.

FORWARD-LOOKING STATEMENTS
This 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.
 


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Sono 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.