German Electric Car Company Sono Motors Seeks €1 Million Through Equity Offering on Seedrs

Sono Motors GmbH, a Munich-based electric car startup, has launched an equity crowdfunding campaign on Seedrs. The company is currently seeking €1 million as it prepares to expand its vehicle line. 

The company, which secured €549,895 on crowdfunding platform Indiegogo last year for its solarcar, Sion, is seeking to establish itself as a renowned automobile manufacturer with a focus on alternative drive concepts. Sono describes Sion as a five-door compact van with a length of 4.11 m. An 80-kW engine enables a continuously variable transmission to reach speeds of up to 140 km/h. It has five seats with the rear 3 collapsible to a flat bench and it has a trailer hitch.

“Our first model will be an innovative electric car called ‘Sion’ with the inclusion of photovoltaics (‘viSono’) in the chassis, a range of 250 km and a retail price of €16,000. In short: an affordable mainstream electric car which provides an array of solutions for the future of emobility and urban transport.”

Speaking about the company’s crowdfunding experience, CEO of Sono Motors, Laurin Hahn, stated:

“We can secure our independence and build the car that people really want. Our crowdfunding campaign in 2016 has shown us what can happen when many people are enthusiastic about an idea. Via crowd investment, we can take the Sion and Sono Motors to the next level.”

Martin Sabbione, CFO at Sono Motors, added:

“Investors have different options to support Sono, either by providing debt or equity, depending on their personal preferences. By joining our campaign, participants can grow with us and profit from our success, in a fair, transparent and sustainable manner.”

Since its launch, the campaign has successfully secured more than half its funding target thanks to over 200 investors. It is set to close later this fall.


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