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Our Payback Plan

Maximum transparency and support for your repayment.

















 

The repayment explained by our CFO Torsten and CEO Laurin

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Payback Plan

In terms of Sion reservations with deposits made before the #savesion campaign, the Company has a payback plan to pay back in various installments including a bonus over the next two years, starting with the first installment in May 2023. Sono Motors will not withdraw any money from the the payment commitments made during the #savesion campaign.

Here’s an answer to a frequently asked question: Yes, you can waive the refund of the deposit or parts of it in the login area. Hereby you support us greatly and help to realize our mission of solar mobility.

Waive or Request Your Repayment in Installments Here

How to Get Your Money Back

Probably the most important question for many is how to get their deposit, their money, back. For this we have developed a repayment plan: Within the next 2 years we plan to repay all deposits in 3 installments.

  • 30% of your deposit by the end of May 2023 at the latest
  • 40% of your deposit by the end of June 2024 at the latest
  • 30% of your deposit by the end of January 2025 at the latest

In addition, we pay a bonus of 5%, which is to be paid with the last installment.

Waive or Request Your Repayment in Installments Here

FAQ

This is a tough step for us. We will restructure significant parts of Sono Motors. Of the current more than 400 employees, only about 110 will continue working for Sono Motors. The Sion program has been terminated and we intend to sell it. We will focus on our commercial B2B solar solutions such as the Solar Bus Kit, which we have been testing with some key partners since the middle of last year.

We have a well-filled order book and see increasing demand for our solar technology. The business model is "asset light" (90% less capital required in 2023 compared to the Sion Business Plan) and offers interesting margins. We are already generating revenues. We plan further capital increases in the future to strengthen Sono's liquidity and to be able to repay you all down payments.

Our repayment plan includes three installments. 

1st installment: 30% of your down payment until May 2023

2nd installment: 40% of your down payment until June 2024

3rd installment: 30% of your down payment until January 2025

We will pay a one-off voluntary bonus of 5% with the last installment. We reserve the right to refund your deposit early.

First, we will terminate a majority of our employees as well as all Sion suppliers as well as service providers in order to reduce the running costs as soon as possible. 

Our repayment offer will be sent to all reservation holders, which can then be accepted online.

We will also start the next financing round to provide Group Solar with a sufficient financial buffer.

We will then structure the solar division in such a way that the team can smoothly transition and continue to work on the existing projects.

Yes, your current T&C will remain in place regardless of the discontinuation of the Sion program. 

However, we offer a payment plan. By accepting this payment plan, you agree to new terms and conditions which will replace your current ones.

As Sono Group N.V. will remain listed on NASDAQ, there will be no changes for shareholders, incl. Seedrs and former subscribers of convertible and subordinated loans. The Sono Group N.V.  shares remain unaffected by the restructuring.

Every euro that our reservers give up helps us to expand the solar business and realise our mission. You can actively help us realise our vision of a world without fossil fuels.

Thank you for your offer. There are several things you can do:

  • Accept our repayment plan and if you can, waive part of your down payment. This will help us achieve our mission of solar on every vehicle. 
  • Tell our story. Don't let the naysayers get the upper hand. Fight against the climate crisis, stand up for a climate-friendly future, for innovation in Germany. For a world without fossil fuels.
     

The Sono points were linked to the successful delivery of the Sion and would have been distributed upon conversion of your reservation into a purchase contract and a corresponding payment or offsetting of your advance payment against the purchase price. As we are now discontinuing the Sion program, this will unfortunately no longer happen and therefore the Sono points will also expire with immediate effect.

A Long Road, Together Side by Side

In the end, we want to thank you all from the bottom of our hearts. For your trust and especially for your courage. Your courage to support us, even if it was risky. Even though family and friends advised you against it, you didn't just look the other way during the climate crisis, but took action and reserved a Sion. You're the reason we've been able to get this far. You’re the reason, why today an entire industry is thinking about solar integration. You have brought about change – big change. 

We would like to close the Sion chapter with an appeal to all of you: keep fighting! Tell our story. Don't let the naysayers get the upper hand. Fight against the climate crisis, stand up for a climate-friendly future, for innovation in Germany. For a world without fossil fuels.

#staysono