Sono Motors wants to go public
According to a media report, the start-up needs more money to produce its solar cars. An IPO should bring fresh capital.
Already at the beginning of next year, the Munich-based start-up Sono Motors wants to go public in the USA. This was reported by Manager Magazin. Then the latest prototype will be presented. Sono Motors wants to deliver the first solar-powered cars from 2022, 12,000 "Sions" have already been reserved by customers.
The start-up company needs a total of 200 million euros until market launch. A year ago, Sono Motors already received millions through crowdfunding. Another 50 million were collected in January through down payments of already reserved cars. The IPO is now expected to put additional money in the till.
Sono Motors wants to build the Sion in Sweden. The car will be solar-powered, and customers will be able to drive 255 kilometres with it. The solar cells can produce electricity every day for an additional 34 kilometers of range. The 163 hp car will cost 25,500 euros. In total, the start-up company wants to build almost 260,000 cars.
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