Sono Motors plans Nasdaq IPO

"Sion" is the name of Sono Motors' electric cars with integrated solar panels. Although production will not start until 2023, the Munich-based start-up is already planning to go public.

Sono Motors' parent company, the Sono Group, is planning an IPO on the Nasdaq Global Market. The Group intends to sell around ten million ordinary shares at a price of between 14 and 16 US dollars per share. This could raise up to 160 million US dollars for the company.

Yesterday, the mobility start-up also announced that it had already received 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. In the meantime, Sono Motors has raised the purchase price from 25,000 euros per car to 28,500 euros. Sono Motors was founded in Munich in 2016 by Jona Christians, Laurin Hahn and Navina Pernsteiner.

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