Sono Motors makes a loss of almost 60 million euros

The company publishes its annual report for the year 2021. The turnover was just 16,000 euros.

Munich-based start-up Sono Motors has announced its financial results for fiscal year 2021. According to the report, the company made 16,000 euros in sales. Of that, 11,000 euros came from the integration of its own solar technology. Sono Motors' loss from operations was 59.2 million euros. In 2020, it had been 53.9 million euros. The net loss amounted to 63.9 million euros and 1.07 euros loss per share. 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. This represents an increase of nearly 4,000 reservations in 2021, a 31 percent increase over the previous year. Should all 17,000 reservations received by the end of March 2022, also lead to a purchase, the start-up calculates, that would be a sales volume of 368 million euros.

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

Among other projects, Sono Motors delivered its solar technology to several customers, including Munich's public transport company MVG. The company also delivered a first prototype solar-powered light electric vehicle to ARI Motors in 2021. It also installed the first solar integration for a U.S. RV manufacturer.