Sono Motors makes a loss of almost 60 million euros

The company publishes its annual report for 2021. Turnover was just 16,000 euros.

The Munich-based start-up Sono Motors has announced its financial results for the 2021 financial year. The company generated a turnover of 16,000 euros. Of this, 11,000 euros came from the integration of its own solar technology. The loss from operations at Sono Motors amounted to 59.2 million euros. In 2020, the figure was 53.9 million euros. The net loss amounted to 63.9 million euros and a loss per share of 1.07 euros. In 2020, these figures had been 56.0 million euros and 0.97 euros. Operating expenses increased primarily due to growth and prototype development.

At the same time, advance payments received from customers increased by four million euros. By the end of 2021, the company had collected more than 16,700 direct customer reservations. The number of reservations thus rose by almost 4,000 in 2021, an increase of 31% compared to the previous year. If all 17,000 reservations received by the end of March 2022 were to result in a purchase, the start-up calculates that this would be a sales volume of 368 million euros.

The company also declared in the annual report that it would establish the business-to-business solar business as a second strategic pillar alongside its own electric car. "This year, our focus is also on improving the quality, testing and speed of the Sion development program," says CEO Laurin Hahn. The company has been able to celebrate some successes in recent times. Compared to the beginning of 2021, the number of Sono Motors' business-to-business projects in the field of solar integration increased from two to 17 by the end of March 2022. The company has also opened its own development center for the B2B solar business.

Sono Motors has supplied its solar technology to several customers, including the Munich public transport company MVG. The company also delivered a first prototype of a solar-powered light electric vehicle to ARI Motors in 2021. It also installed the first solar integration for a US motorhome manufacturer.