Photo: Sono Motors
Sono Motors made an American tour with the Sion to introduce it to new customers. It was almost as if the company was also wondering about selling it in the U.S. That makes the company’s latest move quite surprising: the German startup said it might ditch the Sion and stick to its “attractive solar B2B business, which is significantly less capital intensive.”
The reason behind that decision is that Sono Motors did not manage to raise enough money to kick off the production of the solar car. The startup promised it would be the first affordable mass-production vehicle of its kind, with a price tag of €25,126 ($26,518 at the current exchange rate). On September 5, Sono Motors even celebrated it had raised €40 million ($42,22 million) without delivering a single car, thanks to around 20,000 reservations for the Sion.
According to Sion, it “failed to explain to investors why the Sion is truly needed and that there is a huge demand for it.” It added that “we are living through multiple global crises, causing most investors to avoid taking risks and look toward more mature companies.” The startup heard from some of these investors that it should “not build the car,” “restructure the company,” “lay off 70%” of its employees, “refund the Community,” and “disregard the Sion and our reservation holders.”
To avoid that, Sono Motors decided to launch the #saveSion campaign. It consists of trying to sell 3,500 cars for their total price. It is open both to new reservation holders and to current ones willing to increase their deposits. If you make a €500 ($528) downpayment (the lowest one), you get a €300 ($317) discount on your Sono Sion.
Those willing to pay in full for the solar car will pay €26,900 ($28,390). Although that is more than the €25,126 the company said it would cost, it is less than the €29,900 ($31,556) price the solar vehicle will actually have. Blame inflation for that – thank Sono for the €3,000 ($3,166) discount. Customers buying the car under this campaign will receive a fixed vehicle waiting list number. Although the Sion crossed the pond to say "hi" to American customers, only European customers can participate in the campaign.
Anyone afraid of buying something that may take too long to build may like to hear that they will only have to pay Sono Motors if the campaign goes well. In other words, if at least 3,499 other reservation holders also decide to pay the Sion in full in the next 50 days – until January 27, 2023. It is entirely in the “community’s” hands to do that or not.
Early birds get more significant discounts: the €300 to €3,000 rebates will only last for the next five days. Sono Motors did not disclose how much less people will pay for ordering their Sions at later dates, which could be an incentive to speed things up. To be honest, anyone paying the total price for a vehicle they may only receive two years from now is not after a good deal. They want to ensure the car will be produced. And that is only the first step.
According to Sono Motors, if the Sion program is saved by these reservations, the company will “pay the remaining machinery, tooling and production set-up to achieve the planned pre-series production in 2023 and make it to a high-volume start of production in 2024.” But the startup will “continue to find new investors.” Sono Motors did not disclose how essential that last bit is to truly save the solar car – or if the campaign’s success is enough.
According to Sion, it “failed to explain to investors why the Sion is truly needed and that there is a huge demand for it.” It added that “we are living through multiple global crises, causing most investors to avoid taking risks and look toward more mature companies.” The startup heard from some of these investors that it should “not build the car,” “restructure the company,” “lay off 70%” of its employees, “refund the Community,” and “disregard the Sion and our reservation holders.”
To avoid that, Sono Motors decided to launch the #saveSion campaign. It consists of trying to sell 3,500 cars for their total price. It is open both to new reservation holders and to current ones willing to increase their deposits. If you make a €500 ($528) downpayment (the lowest one), you get a €300 ($317) discount on your Sono Sion.
Those willing to pay in full for the solar car will pay €26,900 ($28,390). Although that is more than the €25,126 the company said it would cost, it is less than the €29,900 ($31,556) price the solar vehicle will actually have. Blame inflation for that – thank Sono for the €3,000 ($3,166) discount. Customers buying the car under this campaign will receive a fixed vehicle waiting list number. Although the Sion crossed the pond to say "hi" to American customers, only European customers can participate in the campaign.
Anyone afraid of buying something that may take too long to build may like to hear that they will only have to pay Sono Motors if the campaign goes well. In other words, if at least 3,499 other reservation holders also decide to pay the Sion in full in the next 50 days – until January 27, 2023. It is entirely in the “community’s” hands to do that or not.
Early birds get more significant discounts: the €300 to €3,000 rebates will only last for the next five days. Sono Motors did not disclose how much less people will pay for ordering their Sions at later dates, which could be an incentive to speed things up. To be honest, anyone paying the total price for a vehicle they may only receive two years from now is not after a good deal. They want to ensure the car will be produced. And that is only the first step.
According to Sono Motors, if the Sion program is saved by these reservations, the company will “pay the remaining machinery, tooling and production set-up to achieve the planned pre-series production in 2023 and make it to a high-volume start of production in 2024.” But the startup will “continue to find new investors.” Sono Motors did not disclose how essential that last bit is to truly save the solar car – or if the campaign’s success is enough.
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