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Organization Advancing towards Pre-Series Development of Solar Electric Vehicle, Secures More Than €40 Million in Funding Commitments during Ongoing #savesion Campaign

Thousands of individuals back the ongoing #savesion movement. The global examination and verification process for the test and series progresses rapidly.

Progress Makes Strides in Pre-series for Solar Electric Vehicle, Securing More Than €40 Million in...
Progress Makes Strides in Pre-series for Solar Electric Vehicle, Securing More Than €40 Million in Financial Pledges during the #savesion Campaign

Organization Advancing towards Pre-Series Development of Solar Electric Vehicle, Secures More Than €40 Million in Funding Commitments during Ongoing #savesion Campaign

In a significant leap towards sustainable mobility, Dutch company Sono Group NV is actively developing its pioneering solar electric vehicle (EV), the Sion. The groundbreaking car integrates solar panels directly into its bodywork, capturing solar energy to charge the vehicle's battery [1].

Despite operating with a relatively small team of 43 employees, Sono Group NV continues to make strides in the EV industry. Financial data reveals that the company is in an intensive development and investment phase, with tight liquidity and negative returns on assets and invested capital [1]. However, the company's status as a publicly traded entity indicates ongoing capital raise activities typical for innovative EV startups.

The Sion is currently in the design and development stage, with no public information indicating mass production has started yet. However, testing and production readiness for related advanced battery technologies, such as those from Sion Power, are expected by late 2025 [2]. This timeline suggests that the Sion could be positioned for production near or after late 2025, pending successful testing validation.

Sono Group aims to move from the design phase to production, but explicit production start dates for the Sion vehicle are not detailed in the results. Given the industry trend and related companies aiming for commercial production readiness by late 2025, it is reasonable to expect that Sion's production could be positioned around the same timeframe or shortly thereafter [2].

The Sion has shown promising results in testing, surpassing the WLTP range target of 305 km on a single battery charge of 54 kWh. Production trials with series tools for the Sion have commenced, and the testing and series-validation program is progressing quickly, including durability testing in Spain and WLTP drive cycle tests [2].

Sono Group is not limiting its solar technology to the Sion alone. The company's technology can be integrated into a variety of vehicle architectures, including third-party OEM cars, buses, refrigerated vehicles, and recreational vehicles. The first Sion pre-series vehicles are planned to be built using series tools at Valmet Automotive in Finland in the second half of 2023 [2].

As of 17 January 2023, over 44,000 reservations have been made for the solar electric vehicle Sion [2]. Sono's solar range calculations are based on WLTP range, European market average, open field, and typical meteorological year weather data. Over €40m in customer commitments have already been received during the #savesion campaign [2].

It is essential to note that securities may not be offered or sold in the United States without registration or an exemption. Reservations for the Sion can only be made by persons located in 27 European jurisdictions, not in the U.S. or any other country [2].

Sono Group NV (OTCQB: SEVCF) is on a mission to make every vehicle solar, aiming to extend range, reduce fuel costs, and reduce CO2 emissions. The company's filings with the U.S. Securities and Exchange Commission can be found on their website.

Recently, Sono successfully tested the vehicle-to-vehicle (V2V) charging technology using 3 phase at 13 amps [1]. This technology could potentially revolutionise the way EVs are charged in the future.

In conclusion, the Sion solar electric vehicle is on a development trajectory aiming for production readiness potentially near or after late 2025, supported by advanced solar and battery technologies. Exact funding rounds and mass production dates remain undisclosed in current data. However, the promising results from testing and the increasing number of reservations indicate a promising future for this pioneering solar EV.

  1. Sono Group NV, with just 43 employees, is making significant strides in the EV industry, particularly with their solar electric vehicle, the Sion.
  2. In the financial sector, Sono Group NV is in an intensive development and investment phase, demonstrating tight liquidity and negative returns on assets and invested capital.
  3. The Sion is currently in the design and development stage, with tests underway, and mass production is expected by late 2025, assuming successful testing validation.
  4. Sono Group NV is not restricting its solar technology to the Sion alone, aiming to integrate it into various vehicle architectures, including third-party OEM cars, buses, and recreational vehicles.
  5. The first Sion pre-series vehicles are planned to be built using series tools at Valmet Automotive in Finland in the second half of 2023.
  6. Over 44,000 reservations have been made for the solar electric vehicle Sion, with significant customer commitments already received, amounting to over €40m during the #savesion campaign.

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