Sono Motors Announces New Round of Financing / Campaign Generates More Than 5 Million Euros in the First Week

München (ots) - A year after the company's successful first
crowdinvesting campaign, the Munich-based mobility provider Sono
Motors today announced the start of a second round of financing. The
purpose of the campaign is to generate the capital needed for the
completion of the series development and manufacturing of the Sion,
the first series-produced electric vehicle with solar integration,
which is scheduled to go into production in the fourth quarter of
2019.

In the one-week subscription period ahead of today's official
campaign launch, which was reserved exclusively for existing
investors and backers, there were subscriptions amounting to no less
than 5 million euros via crowdinvesting and other channels.

The concept of the current financing round affords retail and
institutional investors access to the campaign via various channels
and forms of participation. Using a variety of crowdinvesting
platforms, investors can participate in the success of the company
via either equity or debt capital. Another investment option is via a
special fund from the asset managers CAV Partners, who specialize in
renewable energies, and the environmental financial services provider
Grüne Sachwerte.

"It is our goal to establish a sustainable company. We believe
that, together with our community, we can bring about change. This
was confirmed already back in 2016 with our first crowdfunding
campaign. We therefore want to continue to give the retail investors
and early backers, whose financial involvement and trust played a
major part in keeping us going over the past two years, the
opportunity to benefit from our company's growth by means of
crowdinvesting," says Laurin Hahn, CEO and co-founder of Sono Motors.

Another major focus is getting institutional investors on board.
Therefore, Sono Motors is engaging in talks with them in the course
of the current financing round.

"We have reached some important milestones last year and we
succeeded in doubling our enterprise value in next to no time. The
funds generated in the current financing round will go toward the
finalization of series development and the conclusion of the Sion's
validation phase, and will also be used for the crucial next
industrialization steps," adds Martin Sabbione, CFO of Sono Motors.

Sono Motors currently has more than 8,000 fee-based vehicle
reservations, which would equate to an order volume of around 140
million euros. The company has therefore comfortably exceeded its
original target of 5,000 reservations.

In addition to the internal teams of experts being expanded in
recent months, the management team was expanded in order to advance
the company's development. Thomas Hausch (Nissan, Daimler) assumed
the position of COO, while Isa Krupka (Van Eck, STOXX, Dow Jones) was
appointed to the management as CCO.

About Sono Motors

What started out as the garage project of two friends and the
vision of a sustainable mobility concept, which was not dependent on
fossil fuels, became the innovative and owner-managed automotive
company Sono Motors in 2016.

The company now boasts an experienced team of engineers,
designers, technicians, and industry experts who are developing and
building a forward-looking electric car which is suitable for daily
use, with integrated solar cells and innovative mobility services.

The carbon emissions generated during the vehicle's production and
manufacturing are entirely offset. The first prototypes were produced
in 2017 with the support of renowned investors and crowdfunding, and
have since been driven and experienced by more than 13,000 potential
customers at test drive road shows. The overwhelming response to the
vehicle and mobility concept confirmed the company founders' vision
and is turning it into a reality - the electric car Sion will go into
series production in 2019.

The company's full story can be found here:
www.sonomotors.com/story.html/

Contact:
Press relations
Alexa Rauscher | E-mail: press@sonomotors.com

Investor relations
Moritz Vohler | E-mail: invest@sonomotors.com

Original-Content von: Sono Motors GmbH, übermittelt durch news aktuell