Sono Motors plans Nasdaq IPO

"Sion" is the name of the electric cars with integrated solar panels from Sono Motors. Although production will not start until 2023, the Munich-based start-up already wants to venture onto the stock market.

Sono Motors' parent company, Sono Group, is planning an IPO on the Nasdaq Global Market. The group wants to sell around ten million common shares, with the price per share expected to be between $14 and $16. This could raise up to $160 million for the company.

Yesterday, the mobility startup also reported that it already has more than 16,000 reservations for its Sion electric car. The interested parties are mainly from Germany, Austria and Switzerland, but also from the Netherlands, Italy, Spain and Portugal. Meanwhile, Sono Motors has raised the purchase price from €25,000 per car to €28,500. Sono Motors was founded in 2016 by Jona Christians, Laurin Hahn and Navina Pernsteiner in Munich.

The start-up has developed the "Sion" electric car, which is designed to recharge itself while driving using integrated solar panels. Production is set to begin in 2023. Startbase has already been able to test the car, you can read the report here.