German Manager Magazin: Sono Motors: Munich-based solar car company applies for US IPO 001224

The Munich-based solar car developer Sono Motors has his initial public offering in the United States requested. The start-up is aiming to list its common shares on the US technology exchange Nasdaq under the symbol “SEV”, it said over the weekend on his website with. The number of shares offered and the price range for the possible offer have not yet been determined.

The first Sono model with the name “Sion”, which according to the stock market application is to be delivered from 2023, can not only be charged at the socket, but also via solar cells that are built into the body. The automotive suppliers are among the development partners Continental and Elringklinger.

According to its own information, Sono has more than 14,000 pre-paid reservations for the car, which led to a net inflow of funds of 38.8 million euros by the end of August. The company also plans to license its solar technology to manufacturers of buses, trucks, RVs, trains and boats.

The Solar Electric Vehicle (SEV), which can reach speeds of up to 140 kilometers per hour, should be able to drive short distances of up to 34 kilometers with pure solar energy thanks to solar cells in the body and, in addition to charging stations, should also be able to be charged at the socket. The Sion’s liquid-cooled battery has according to the information a capacity of 54 kWh and enables a range of up to 305 kilometers, depending on the driving style.

Go to source