Sono Motors Concludes U.S. Tour With ‘Sion’, Which Has the Potential to Become the World’s First Affordable Solar Electric Vehicle (SEV), Hundreds of Attendees, Including Whoopi Goldberg, Show Huge Interest in Affordable Solar Mobility After Test Rides With Sion
Tour Included a Stop at Times Square in New York City and Ringing Nasdaq’s Closing Bell, Marking Sono Motors’ Nearly One-Year Anniversary as a Nasdaq-Listed Company
Los Angeles, USA, 1 November 2022 – Sono Motors (NASDAQ: SEV), the company pioneering affordable solar mobility, finished its tour across the United States, designed to demonstrate solar electric mobility with ‘Sion’, the company’s solar electric vehicle, and gauge interest and enthusiasm for the company’s potential future expansion into the U.S. market. Sono Motors met citizens, company representatives and members of the media in New York, Boston, Detroit, San Francisco, San Jose, and Los Angeles, to offer co-rides for hundreds of attendees, including Emmy and Oscar award-winning actress Whoopi Goldberg.
‘Sion’ is a 5-seat passenger solar-electric vehicle, which is expected to retail in Europe for approximately €25,000 ($25,000) net and has the potential to be the world’s first affordable SEV when it goes into production, which is currently planned for the second half of 2023. As of today, Sono Motors has received more than 20,000 reservations with down payments from individuals and more than 22,000 business pre-orders for Sion. Sono Motors plans to produce the car in Finland with Valmet Automotive, with an expected 257,000 vehicles to be produced over a seven-year period.
“We have already received significant interest for solar mobility within Europe. Our goal with this U.S. tour was not only to demonstrate solar mobility to Americans but to listen to concerns, benchmark interest, build relationships, and refine our strategy for a potential U.S. market entry in the mid-term future,” said Laurin Hahn, co-founder and CEO of Sono Motors. “The result was overwhelmingly positive with many Americans being impressed by the targeted initial price point, expected solar cost savings and solar-expanded range, and shareability. A value proposition that resonated with many and led to a strong show of interest from many attendees.”
“The climate crisis is more than real and is already impacting all of our lives. There is an urgent need to decarbonize the automotive industry while continuing to facilitate the movement of people. We need a cleaner means of transportation and our fundamental vision is to add solar on every vehicle. Solar is the answer because it allows vehicles to be more independent from charging infrastructure, which is more convenient for consumers as well as less costly for the energy grid,” Hahn added.
In addition to showcasing ‘Sion’, Sono Motors has also presented the Solar Bus Kit, a retrofit solar solution for commercial vehicles that can be installed on public buses, and more solar solutions for refrigerated trucks and trailers, last mile delivery vehicles, and many other diesel or electric commercial vehicle with suitable surface space. The Solar Bus Kit partially powers subsystems like HVAC, heating, ventilation, automatic doors, and video screens through solar energy, and can save up to 400 gallons of diesel and up to 4.4 short tons of CO2 per bus, per year.
For more information and to register interest in Sion in the United States, please visit: https://sonomotors.com/celebrate-the-change
This press release includes forward-looking statements. The words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs, or current expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) the impact of the global COVID-19 pandemic on the global economy, our industry and markets as well as our business, (ii) risks related to our limited operating history, the rollout of our business and the timing of expected business milestones including our ability to complete the engineering of our vehicles and start of production on time and budget and risks related to future results of operation, (iii) risks related to our unproven ability to develop and produce vehicles and with expected or advertised specifications including range, and risks relating to required funding, (iv) risks related to our ability to monetize our solar technology, (v) risks relating to the uncertainty of the projected financial information with respect to our business including the conversion of reservations into binding orders, (vi) effects of competition and the pace and depth of electric vehicle adoption generally and our vehicles in particular on our future business and (vii) changes in regulatory requirements, governmental incentives and fuel and energy prices. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov and on our website at ir.sonomotors.com. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as the actions of regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.