Photo: Sono Motors
On December 8, Sono Motors shared that market conditions could prevent its solar hatchback from seeing daylight anytime soon. To get there, the Sono Sion would need 3,500 fully-paid units in 50 days – until January 27, 2023. Sixteen days later, it achieved 1,000 believers to commit to paying for the EV. The German startup is trying to stay positive.
Although it is great that 28.6% of the necessary customers have made total deposits for the Sion, 32% of the days to reach the deadline have already passed. In other words, those willing to buy the solar hatchback at all costs will have to step on the accelerator pedal if they still want it to finish development and reach production lines. If the campaign had to present constant numbers, Sono should have received 1,120 full payments for the car until December 24 – when it announced it had more than 1,000 people willing to pay the total price for their reservations.
The company’s homepage presents a counter that discloses the campaign's progress. As we write, 1,224 buyers have made full deposits for the car. We’re currently 20 days from the campaign start, which means there are still 60% of days left before it ends. At this point, Sono Motors should have 1,400 cars sold. It currently lags behind 176 total payments.
If you reserve the car until January 3, you can save €2,400 ($2,552 at the current exchange rate). That makes the price drop from €29,900 ($31,790) to €27,500 ($29,238). The first ones to reserve the car had a €3,000 ($3,190) discount for paying the full price. Sono Motors will only collect the money if it reaches 3,500 fully-paid Sion units.
The campaign also wants reservation holders to increase their deposits. The minimum is €500 ($532), but you end up paying only €200 because Sono gives a €300 ($319) discount for such reservations. Apparently, the company is counting those smaller deposits to reach its goal (the counter shows fractions). If that is correct, the whole payment argument goes down the drain.
Bear in mind that reaching the campaign’s goal does not ensure Valmet Automotive will produce the Sion. After all, selling 3,500 cars at prices ranging from €26,900 ($28,600) to €29,9000 will provide only €100 million ($106.32 million), which may not be enough to finish the vehicle’s development. More than anything, Sono Motors expects the full payments to convince investors it is worth putting money into the company. The last time we checked, the Sion had 21,000 pre-orders. At at least €30,000 ($31,896) a pop, we’re talking about €630 million ($669.82 million) in revenue. If it is counting smaller payments, will the persuasion power of that campaign remain the same?
The deal with reservations is that they need to be finalized to count. Just check the Tesla Cybertruck and the more than one million pre-orders for it after a $100 fee. Those that still have not asked for their money back may have bought a RIvian R1T or a Ford F-150 Lightning instead of waiting. The difference is that Tesla already has four factories, while Sono Motors is just giving its first steps. Proving that it has a strong fanbase may be pretty helpful – at least it worked for Tesla at the very beginning.
The company’s homepage presents a counter that discloses the campaign's progress. As we write, 1,224 buyers have made full deposits for the car. We’re currently 20 days from the campaign start, which means there are still 60% of days left before it ends. At this point, Sono Motors should have 1,400 cars sold. It currently lags behind 176 total payments.
If you reserve the car until January 3, you can save €2,400 ($2,552 at the current exchange rate). That makes the price drop from €29,900 ($31,790) to €27,500 ($29,238). The first ones to reserve the car had a €3,000 ($3,190) discount for paying the full price. Sono Motors will only collect the money if it reaches 3,500 fully-paid Sion units.
The campaign also wants reservation holders to increase their deposits. The minimum is €500 ($532), but you end up paying only €200 because Sono gives a €300 ($319) discount for such reservations. Apparently, the company is counting those smaller deposits to reach its goal (the counter shows fractions). If that is correct, the whole payment argument goes down the drain.
Bear in mind that reaching the campaign’s goal does not ensure Valmet Automotive will produce the Sion. After all, selling 3,500 cars at prices ranging from €26,900 ($28,600) to €29,9000 will provide only €100 million ($106.32 million), which may not be enough to finish the vehicle’s development. More than anything, Sono Motors expects the full payments to convince investors it is worth putting money into the company. The last time we checked, the Sion had 21,000 pre-orders. At at least €30,000 ($31,896) a pop, we’re talking about €630 million ($669.82 million) in revenue. If it is counting smaller payments, will the persuasion power of that campaign remain the same?
The deal with reservations is that they need to be finalized to count. Just check the Tesla Cybertruck and the more than one million pre-orders for it after a $100 fee. Those that still have not asked for their money back may have bought a RIvian R1T or a Ford F-150 Lightning instead of waiting. The difference is that Tesla already has four factories, while Sono Motors is just giving its first steps. Proving that it has a strong fanbase may be pretty helpful – at least it worked for Tesla at the very beginning.
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