0001104659-22-125227 | 6-K | XBRL Viewer

Document And Entity Information	6 Months Ended
Jun. 30, 2022
Document Information [Line Items]
Document Type	6-K
Entity Registrant Name	Sono Group N.V.
Document Period End Date	Jun. 30, 2022
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Entity Central Index Key	0001840416
Amendment Flag	false

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement Line Items [Line Items]
Revenue	€ 23	€ 0	€ 42	€ 0
Cost of sales	(123)	0	(142)	0
Gross loss	(100)	0	(100)	0
Cost of research and development	(30,402)	(10,432)	(53,142)	(12,825)
Selling and distribution expenses	(524)	(869)	(1,012)	(1,625)
General and administrative expenses	(4,548)	(3,767)	(7,596)	(7,673)
Other operating income/expenses	939	209	1,753	370
Impairment losses on financial assets	8	5	4	(2)
Operating loss	(34,627)	(14,854)	(60,093)	(21,755)
Interest and similar expense	(526)	(370)	(923)	(2,645)
Loss before tax	(35,153)	(15,224)	(61,016)	(24,400)
Taxes on income	0	0	0	0
Deferred taxes on expense	0	(41)	0	(41)
Loss for the period	(35,153)	(15,265)	(61,016)	(24,441)
Other comprehensive loss	0	32	0	(64)
Total comprehensive loss for the period	€ (35,153)	€ (15,234)	€ (61,016)	€ (24,505)
Loss per share in EUR
Basic (in EUR per share)	€ (0.45)	€ (0.47)	€ (0.81)	€ (0.76)
Diluted (in EUR per share)	€ (0.45)	€ (0.47)	€ (0.81)	€ (0.76)
Weighted average number of shares for calculation of earnings per share
Basic (in shares)	78,519,562	32,381,964	75,544,645	32,367,901
Diluted (in shares)	78,519,562	32,381,964	75,544,645	32,367,901

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Noncurrent assets
Intangible assets	€ 204	€ 206
Property, plant and equipment	25,359	1,484
Right-of-use assets	2,766	3,018
Other financial assets	93	91
Other non-financial assets	72	89
Total non-current assets	28,494	4,888
Current assets
Work in progress	147
Other financial assets	963	6,233
Other non-financial assets	15,367	3,236
Cash and cash equivalents	89,774	132,939
Total current assets	106,251	142,408
Total assets	134,745	147,296
Equity.
Subscribed capital	9,390	8,735
Capital and other reserves	260,855	221,785
Accumulated deficit	(208,096)	(147,081)
Total equity	62,149	83,439
Noncurrent liabilities
Advance payments received from customers	46,827	44,756
Financial liabilities	6,146	6,353
Other non-financial liabilities	469
Total non-current liabilities	53,442	51,109
Current liabilities.
Financial liabilities	532	472
Trade and other payables	15,874	7,867
Other liabilities	2,280	2,207
Provisions	468	2,202
Total current liabilities	19,154	12,748
Total equity and liabilities	€ 134,745	€ 147,296

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - EUR (€) € in Thousands	Subscribed capital	Capital reserve	Other reserves	Accumulated deficit	Total
Balance at Dec. 31, 2020	€ 6,468	€ 39,490	€ 32,139	€ (83,123)	€ (5,026)
Statement Line Items [Line Items]
Capital increase, net of transaction costs	4	1,479			1,483
Share-based compensation			1,165		1,165
Fair Value Measurement Convertible Bond (OCI)			(106)		(106)
Deferred tax asset (OCI)			41		41
Loss for the period				(24,441)	(24,441)
Balance at Jun. 30, 2021	6,472	40,969	33,239	(107,563)	(26,882)
Balance at Dec. 31, 2021	8,735	187,894	33,891	(147,080)	83,439
Statement Line Items [Line Items]
Capital increase, net of transaction costs	655	37,849			38,504
Share-based compensation			1,221		1,221
Loss for the period				(61,016)	(61,016)
Balance at Jun. 30, 2022	€ 9,390	€ 225,743	€ 35,112	€ (208,096)	€ 62,149

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2021-01-01
-Paragraph 18
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=7&code=ifrs-tx-2021-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2021-03-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2021-01-01
-Paragraph 24
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2021-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2021-03-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2021-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2021-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2021-03-24

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 28
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2021-03-24

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Note Effective on first application of IFRS 9
-Name IFRS
-Number 4
-IssueDate 2021-01-01
-Paragraph 39L
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=4&code=ifrs-tx-2021-en-b&anchor=para_39L_e&doctype=Standard
-URIDate 2021-03-24

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 23
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_23&doctype=Standard
-URIDate 2021-03-24

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Note Effective 2023-01-01
-Name IFRS
-Number 17
-IssueDate 2021-01-01
-Paragraph 113
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2021-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2021-03-24

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2021-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2021-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2021-03-24

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2021-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2021-03-24

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2021-01-01
-Paragraph 81A
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2021-03-24

+ Details

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW € in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2022 EUR (€)	Jun. 30, 2021 EUR (€)
Operating activities
Loss for the period	€ (61,016)	€ (24,441)
Adjustments for:
Depreciation of property, plant and equipment	84	38
Depreciation of right-of-use assets	231	160
Amortization of intangible assets	37	8
Expenses(+) for share-based payment transactions	1,221	1,165
Other non-cash expenses(+)/income(-)	(1,484)	1,838
Interest and other expenses	923	2,645
Movements in provisions	(1,734)	(76)
Decrease(+)/increase(-) in trade receivables and other assets	(6,993)	(3,088)
Increase(+)/decrease(-) in trade and other payables	8,473	3,564
Increase(+)/decrease(-) in advance payments received from customers	1,290	915
Interest paid	(56)	(67)
Net cash flows from operating activities	(59,024)	(17,338)
Investing activities
Purchase of intangible assets	(36)	(149)
Purchase of property, plant and equipment	(23,959)	(798)
Net cash flows from investing activities	(23,995)	(947)
Financing activities
Transaction cost on issue of shares	(842)	(17)
Proceeds from issuing shares	39,346	1,500
Repayments of borrowings		(185)
Payment of principal portion of lease liabilities	(213)	(144)
Net cash flow from financing activities	38,291	1,154
Net increase (decrease) in cash and cash equivalents	(44,728)	(17,131)
Effect of currency translation on cash and cash equivalents	1,563
Cash and cash equivalents at the beginning of the period	132,939	43,264
Cash and cash equivalents at end of the period	€ 89,774	€ 26,133

Note 4 - Significant accounting matters

6 Months Ended

Jun. 30, 2022

Notes To Financial Statements [Abstract]

Significant accounting matters

4.	Significant accounting matters

4.1

Going Concern

Management assessed Sono Group’s ability to continue as a going concern, evaluating whether there are conditions and events, considered in the aggregate, that raise substantial doubt about its ability to continue as a going concern using all information available about the future, focusing on the twelve-month period following the issuance date of the interim condensed consolidated financial statements.

Historically, Sono Group has financed its operations primarily through capital raises and loans from shareholders and private investors (including its IPO in November 2021 and a second public offering in May 2022) as well as through advance payments received from customers. Since inception, Sono Group has incurred recurring losses and negative cash flows from operations,

including accumulated net losses of kEUR 208,096 as of June 30, 2022, and expects to continue to generate operating losses and negative cash flows from operations for the foreseeable future.

In November 2021, Sono Group received net proceeds from its IPO in the amount of kEUR 142,334. At that time, Sono Management planned and disclosed that the proceeds were to be used to finalize the development of the prototype SVC3 and to maintain liquidity of the Company until May 2023 (including a reserve sufficient to cover any potential repayments of the customer prepayments at any time). Management began to increase headcount and proceeded with additional development and production activities for the car and solar technology, which increased the rate at which available cash is being expended. Additionally, the change in contract manufacturer caused the planned start of serial production to be postponed from the first half of 2023 to the second half of 2023 and the cost estimates for pre-production activities have increased. On July 26, 2022 Sono Motors presented to the public the 3rd generation of prototypes of its solar electric vehicle (SEV), the Sion, in its production design, internally referred to as SVC3. Currently, Sono’s management expects to continue incurring costs as they finish production of additional SVC3 units that will be used for testing and validation procedures.

Sono Group’s financing plan shows substantial financing needs, including increased needs due to the change in the contract manufacturer, planned cost increases, additional technical and regulatory requirements, and changes in suppliers in addition to the current economic environment of increasing prices, resulting in significantly higher financing requirements needed to reach the start of serial production in the second half of 2023. Based on numerous risks and uncertainties, Sono Group cannot predict with certainty the total costs to be incurred prior to the commencement of production.

Sono Group’s forecasted cash required to fund investments and operations (excluding future financing plans and counter measures to be taken by management) indicates that the Group does not currently have sufficient funds to fund its operations as currently planned through the twelve-month period from the issuance date of these interim condensed consolidated financial statements. Consequently, the Group’s ability to continue as a going concern is largely dependent on its ability to raise additional funds in the near future through debt or equity transactions, additional advance payments, or other means, to finance investments and operations and ultimately, to achieve serial production of the Sion. Following the second public offering in May 2022, of a net amount of mEUR 39.3. Sono Group’s management still plans to raise additional capital of at least mEUR 122 (as per July 31, 2022) in 2022 through the issuance of new shares including through the existing committed equity facility signed with Berenberg on June 13, 2022. This committed equity facility provides Sono Group with the right, without obligation, to sell and issue up to $150 million of its ordinary shares (at a discount to the volume-weighted average price on the date a purchase notice is deemed delivered from the Group to Berenberg) over a period of 24 months to Berenberg at the sole discretion of Sono Group, subject to certain limitations and conditions set out in the respective agreement (including the filing and securing effectiveness of the registration statement) with one of the key limitations being the trading volume of Sono N.V.’s stock. In particular, the terms of the agreement limit the number of shares that Sono may decide to sell to Berenberg on any given day to 20% trading volume on such day. Further capital will be needed and is currently expected to be raised at a future date prior to commencement of production. In addition, the Group is exploring alternative methods of obtaining financing, including applying for subsidies and grants.

There is no certainty that Sono Group will be successful in obtaining sufficient funding through additional public offerings of equity, the committed equity facility, or through subsidies and grants. If the Group is unsuccessful in raising the planned capital, Sono Group’s management will be forced to undertake, and is committed to undertaking, substantial short-term cost-cutting measures in order to maintain minimum liquidity of the Company within the twelve-month period from the issuance date of these interim condensed consolidated financial statements in order to gain additional time for raising sufficient funds for the start of production. Risks and uncertainties related to the supply chain, negative cost development, disruption in our suppliers, technical challenges (e.g. homologation certification, changes in construction), the ongoing corona pandemic – especially in China – and the war in Ukraine may further negatively affect the Group’s business, its ability to reach serial production of the car, liquidity and financial position going forward.

As discussed above, Sono Group will need to raise substantial additional capital to reach serial production of the car and to finance its future operations, which is not assured, and management has consequently concluded that there is substantial doubt about its ability to continue as a going concern. The interim condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

4.2

Corona Pandemic

In 2020, COVID-19 caused a global pandemic. At the end of the first half 2022, the pandemic was still present. In response to this pandemic, governments as well as private organizations implemented numerous measures seeking to contain the virus. These measures disrupted the manufacturing, delivery and overall supply chain of vehicle manufacturers and suppliers and led to a global decrease in vehicle sales. These measures have also led to a trend to work-from-home, which could result in a lower demand for cars

in the future and negatively impact the Group’s sales and marketing activities. The pandemic may also affect the interest of Sono Group’s customers in their car-sharing and ride-pooling networks. Sono Group cannot yet foresee the full extent of COVID-19’s impact on its business and operations and such impact will depend on future developments of the outbreak, including new information concerning the global severity of and actions taken to contain the outbreak and any future mutations of the virus, which are highly uncertain and unpredictable. The virus could have a material impact on Sono Group’s ability to raise additional liquidity to the extent needed and capital management. Sono Group will continue to monitor the situation and the effects of this development on its liquidity and capital management. At the same time, Sono Group has taken actions to maintain operations and protect employees from infection. Since 2020, COVID-19 has had a slightly negative impact on orders and advance payments received from customers. Based on the most recent available information, COVID-19 might continue to have a negative effect on orders and advance payments received from customers in the course of 2022.

4.3

Russo-Ukrainian war

In February 2022, the Russian Army invaded Ukraine across a broad front. In response to this aggression, governments around the world have imposed severe sanctions against Russia. These sanctions disrupted the manufacturing, delivery and overall supply chain of vehicle manufacturers and suppliers. Sono Group cannot yet foresee the full extent of the sanctions’ impact on its business and operations and such impact will depend on future developments of the war, which is highly uncertain and unpredictable. The war could have a material impact on Sono Group’s results of operations, liquidity, and capital management. Sono Group will continue to monitor the situation and the effect of this development on its liquidity and capital management.

Note 6 - Disclosures to the interim condensed consolidated statements of income or loss

6 Months Ended

Jun. 30, 2022

Statement Line Items [Line Items]

Disclosures to the interim condensed consolidated statements of income or loss

6.	Disclosures to the interim condensed consolidated statements of income or loss

6.1

Significant events and transactions

Sono Group is in its development & validation phase. Due to the ongoing development of the Group and its core product, the Group’s operations were more extensive in the first half of 2022 than they were in the first half of the previous year. Consequently, there were developments in several line items in the consolidated statements of income (loss). In particular, the continuing and expanded development of prototypes led to a significant increase in the cost of research and development. The hiring of additional staff with administrative tasks and the augmented use of professional services also increased general and administrative expenses. As the Group has not entered serial production yet, selling and distribution expenses have not risen but were slightly reduced, as compared to the first half of 2021. Furthermore, due to the successful IPO in November 2021, the Group relies less on debt financing than in the first half of 2021. Consequently, interest and similar expenses were significantly reduced.

In April 2022, Management offered all permanent employees, except the top management, the opportunity to join a new employee participation program (Employee Stock Option Program or ESOP), which is equity-settled. Every employee will be granted the equivalent of ten percent of their annual gross salary in stock options, with a minimum of kEUR 5 worth of stock options, per year and employee.

As of June 30, 2022, no employees have signed the ESOP because the drafting of the contracts has not been finalized yet. However, since the employees are already rendering service for the ESOP, expense has been recognized in the second quarter of 2022.

The table below shows the expected status as of June 30, 2022:


Entitlement to ESOP		Number of Entitlements
Entitlement for 2021 tranche		158
Entitlement for 2022 tranche		301
Total		459

Tranches for the years 2021 and 2022 have a cliff vesting that requires staff members to remain employed at Sono Motors until September 30 of the following year. If the employment of the staff with Sono Motors should end before the cliff date, the share options are forfeited. After the vesting period all granted share options will become immediately exercisable.

Sono N.V. initially measures the fair value of the received services by reference to the fair value of the equity instruments (share options) which are planned to be granted and the number of share options planned in relation to each participant, and which is expected to vest. The measurement of the fair value is provisional and will be updated on the grant date. Sono N.V. recognizes the fair value of the services as expenses and a corresponding increase in equity when the services are received.

The following table illustrates the planned volume of the program, the weighted average fair value at reporting date June 30, 2022, as well as the total expense of the period and the corresponding increase in equity:


June 30, 2022		Equity-settled
Number of options planned to be granted		506,379
Weighted average fair value at reporting date (EUR)		2.77
Expense of the period (EUR)		292,264
Increase in equity (EUR)		292,264

Sono N.V. recognized the proportionate fair value as other general and administrative expense (kEUR 61), selling and distribution expense (kEUR 20) and cost of research and development (kEUR 211).

The following table illustrates the number of, and movements in, share options during the year:


2022		Share options
January 1, 2022		0
Planned to be granted		506,379
Forfeited		0
June 30, 2022		506,379

The exercise price of all share options will be EUR 0.06. The price of Sono shares as of June 30, 2022, converted to Euro, amounts to EUR 2.83.

The fair value of the share options for the equity-settled share-based transactions is measured using Black-Scholes Model and the following inputs:


	2021		2022
Input parameter	tranche		tranche
Share price (EUR	2.83		2.83
Exercise price (EUR)	0.06		0.06
Risk-free interest rate	-0.44	%	0.39	%
Expected volatility	80.5	%	67.8	%
Option life (years)	0.25		1.25
Expected dividends (EUR)	0.00		0.00

The expected life of the share options is based on current expectations and is not necessarily indicative of exercise patterns that may occur. The expected volatility was based on an evaluation of historical volatilities of comparable listed peer group companies. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the options is indicative of future trends, which may not necessarily be the actual outcome.

6.2

Revenue and cost of goods sold

Revenues for six months in the amount of kEUR 39 (June 30, 2021: kEUR -), for three months June 30, 2022 kEUR 21 (three months June 30 2021: kEUR -), and cost of goods sold for six months in the amount of kEUR 140 (June 30, 2021: kEUR -) and for three months June 30, 2022 kEUR 121 (three months June 30, 2021: kEUR -) relate to the integration of Sono Motors’ patented solar technology across other transportation platforms. Revenues for six months June 30, 2022 in the amount of kEUR 3 (June 30, 2021: kEUR -), for three months June 30, 2022 kEUR 2 (three months ended June 30, 2021: kEUR -) and cost of goods sold for six months June 30, 2022 in the amount of kEUR 2 (June 30, 2021: kEUR -) and for three months ended June 30, 2022 in the amount of kEUR 1 (three months ended June 30, 2021: kEUR -) are connected with the launch of Sono app which provides an in-app booking and

payment system as well as additional insurance if required. Trade receivables in the amount of kEUR 39 (previous year: kEUR 20) result from these activities.

Cost of goods sold (kEUR 142; previous year: kEUR 0) include a change in provision for onerous contracts and impairment of work in progress for loss making contracts.

As of June 30, 2022, prepayments of kEUR 115 (June 30, 2021: kEUR -) had been received from solar customers and were recognized as contract liability. The payments will be recognized in revenue when the promised goods or services are transferred in the future. Given that the nature of this liability is short term, it is included in trade and other payables in current liabilities. The aggregate amount of the transaction price allocated to unsatisfied performance obligations amounts to kEUR 275 (December 31, 2021: kEUR 42). The Group expects to recognize this amount as revenue within one year of the reporting date.

6.3

Cost of research and development

The table below presents details on the cost of research and development:


	Three Months ended		Six months ended
	30-Jun-22	30-Jun-21	30-Jun-22	30-Jun-21
	kEUR	kEUR	kEUR	kEUR

Development cost of prototypes	24,340	7,723	42,670	8,792
Personnel expenses	5,439	2,230	9,346	3,115
thereof related to the ESOP (IFRS 2)	211	—	211	—
Software fees and subscriptions	259	—	465	—
Professional services	48	127	165	380
Depreciation and amortization	136	58	273	105
Other	181	295	223	433
	30,402	10,432	53,142	12,825

There are no research expenses included in the profit and loss of Sono Group in the first half of 2022 and prior periods, as the Group does not perform research. As the capitalization criteria for development cost have not been met, all development expenses were recognized in profit or loss as incurred in the reporting period and the previous reporting periods. The personnel expenses concern employees responsible for development activities and the share of the employee participation program (Employee Stock Option Program or ESOP) attributable to them.

6.4

General and administrative expenses

The below table displays details included in general and administrative expenses:


	Three Months ended		Six months ended
	30-Jun-22	30-Jun-21	30-Jun-22	30-Jun-21
	kEUR	kEUR	kEUR	kEUR

Professional services	1,070	368	2,496	2,621
Personnel expenses	1,697	1,267	3,055	2,695
thereof related to the ESOP (IFRS 2)	502	909	502	1,165
Impairment	—	1,882	—	1,882
Other	1,781	250	2,045	475
	4,548	3,767	7,596	7,673

Personnel expenses are mainly comprised of employees responsible for Finance, Human Resources, Business Development, Administration etc. and the share of the employee participation program (CSOP and ESOP) attributable to them. Professional services include accounting, tax and legal services as well as other services performed by external parties such as the preparation of annual and interim consolidated financial statements in accordance with IFRS, services provided by our independent auditor, as well as legal and tax services received. Other general and administrative expenses (kEUR 2,047, first half 2021: 475) include mainly expenses for insurances (kEUR 851; first half in 2021: kEUR 2) and software (kEUR 406; first half 2021 kEUR 87) as well as transaction fees for money transfers (kEUR 211; first half 2021: kEUR 13).

In the first half of 2021, an impairment loss of kEUR 1,882 was recognized for the advance payment for assets intended for the development of prototypes. The assets, initially recognized in 2020, had been intended for the tooling of batteries. Management has determined that, due to an unforeseen change in the specifications of the battery, the assets that the advance payments referred to were no longer needed in the Group’s development of prototypes.

6.5

Other operating income/expenses


	Three Months ended				Six months ended
	30-Jun-22		30-Jun-21		30-Jun-22		30-Jun-21
	kEUR		kEUR		kEUR		kEUR
Other operating income		974		209		1,850		370
Income from currency valuation		974		—		1,563		—

Income relating to other periods		—		142		275		225
Income Renault ZOE		—		2		—		45
Miscellaneous		—		66		12		100

Other operating expenses		35		—		97		—
Expenses from currency valuation		34		—		78		—
Miscellaneous		1		—		19		—
		939		209		1,753		370

The increase in other operating income/expenses (kEUR 1,753; June 30, 2021: kEUR 370) relates mainly to the currency valuation of cash and cash equivalents (kEUR 1,561; June 30,2021: kEUR 0) resulting from higher USD cash inflows due to equity raising activities, which coincided with strengthening of USD exchange rate to EURO.

6.6

Interest and similar expenses

Interest and similar expenses (kEUR 923; first half 2021: kEUR 2,645) result from interest expense from the net compounding effect on advance payments received from customers (kEUR 781; first half 2021: kEUR 806), long-term loans measured at amortized cost (kEUR 102; first half 2021: kEUR 155) and lease liabilities (kEUR 39; first half 2021: kEUR 23). In the first half of 2021, an additional amount of kEUR 1,661 resulted from the fair-value measurement of a mandatory convertible bond that was converted to equity in November 2021.

Note 7 - Interim condensed balance sheet disclosures

6 Months Ended

Jun. 30, 2022

Statement Line Items [Line Items]

Interim condensed balance sheet disclosures

7.	Interim condensed balance sheet disclosures

7.1

Property, plant and equipment

The following table summarizes the movement in the net book value of property, plant and equipment for the six-month period ended June 30:


	June 30, 2022	June 30, 2021
	kEUR	kEUR
Balance as of January 01	1,484	2,102
Additions	23,959	798
Depreciation	(84)	(38)
Impairment	—	(1,882)
Balance as of June 30	25,359	980

The additions mainly relate to capitalization of prepayments made for assets under construction including advance payments (kEUR 16,377) made to the contract manufacturer (VALMET) for the future production of Sions. The increase is associated with a preparation for serial production.

7.2

Other current financial assets

The below table displays information on financial instruments included in other current financial assets:


	June 30, 2022	Dec. 31, 2021
	kEUR	kEUR
PayPal reserve	396	6,000
Receivables from payment providers and deposits	269	169
Debtor creditors	147	26
Current trade receivables	44	20
Current receivables (affiliated companies)	1	11
Other	106	7
Total	963	6,233

The PayPal reserve in 2021 relates to the reclassification of the specific reserve imposed by PayPal in connection with the crowdfunding campaign from cash to other current financial assets. In the first quarter 2022, the reserve was released in the amount of kEUR 5,900 and transferred to the current bank account of Sono Group. In the second quarter 2022 the company received additional payments to the PayPal account which led to the increase of the PayPal reserve to kEUR 396. Sono Group expects a repayment of this amount within 12 months after the balance sheet date; therefore, the PayPal reserve is classified as current.

7.3

Other current non-financial assets

Other current non-financial assets as of June 30, 2022, (kEUR 15,367; December 31, 2021: kEUR 3,236) consist most significantly of prepayments made mainly for parts and the construction of the Sion prototype and contract manufacturer (kEUR 12,871; December 31, 2021: kEUR 669) and receivables for VAT and other taxes (kEUR 2,225; December 31, 2021: kEUR 2,069). The increase relates mainly to prepayments made to contract manufacturer in the amount of kEUR 5,323.

7.4

Equity

Total equity of Sono Group comprises subscribed capital, capital reserves, other reserves and accumulated deficit. The subscribed capital amounts to kEUR 9,390 (December 31, 2021: kEUR 8,735) and represents 84,507,641 (December 31, 2021: 73,577,641) fully paid-in member shares with a par value of EUR 0.06 (ordinary shares, December 31, 2021: EUR 0.06) and EUR 1.50 (high voting shares, December 31, 2021: EUR 1.50). Capital reserves include any amounts paid in by the owners that exceed the member shares’ par value. Other reserves include mainly effects from equity-settled stock-option plans. Accumulated deficit consists of losses from prior periods.

Sono N.V. successfully completed a follow-on offering on May 3, 2022. The Company offered 10,000,000 ordinary shares with a par value of EUR 0.06 at a price of USD 4.00 each. Berenberg Capital Markets LLC, Cantor Fitzgerald & Co., and B. Riley Securities, Inc. acted as underwriters for this offering. Craig-Hallum and Wedbush Securities acted as co-managers.

The underwriters had an additional overallotment option of 15% of the offering (greenshoe option). In total, 10,930,000 shares have been sold, as the underwriters partially exercised their greenshoe option on May 11, 2022. In total, Sono Group raised kUSD 41,534 (kEUR 39,346) through the follow-on offering, after underwriting discounts and commissions. In accordance with IAS 32, further transaction costs of the follow-on offering were recognized directly in equity in an amount of kEUR 842 as a deduction to capital reserves.

7.5

Advance payments received from customers


	June 30, 2022	Dec. 31, 2021
	kEUR	kEUR
Advance payments received from customers	46,827	44,756
	46,827	44,756

Depending on the general terms and conditions, in some cases, a cancellation by the customer is possible in less than twelve months. Customers may provide their advance payments in several installments, the latest of which determines the applicable cancellation policy. As of June 30, 2022, for customers who made their latest installment on or before November 25, 2020, cancellation is possible at any time. For customers who made their latest installment later than November 25, 2020, but before November 3, 2021, cancellation is possible on July 1, 2023, or later. For customers who made their latest installment on or after

November 3, 2021, cancellation is possible on January 1, 2024, or later. Deviating from these conditions, in November 2020, Sono Group approached all German-speaking customers that had made their latest installment during the Crowdfunding Campaign from December 1, 2019, until and including January 20, 2020, and asked them to accept a change in the terms and conditions to waive their cancellation right until December 31, 2022. Those customers who accepted the change may cancel their advance payment on January 1, 2023, or later.

As of June 30, 2022, currently 26.2% of advance payments are cancelable and 54.4%, 13.6% and 5.8% will be cancelable beginning January 1, 2023, July 1, 2023, and January 1, 2024, respectively. The percentages calculated are based on the nominal values of the advance payments excluding IFRS adjustments (interest effect).

As of December 31, 2021, 28% were cancelable, 58% will be cancelable from January 1, 2023, 13% will be cancelable from July 1, 2023, and 1% will be cancelable from January 1, 2024. The percentages calculated are based on the nominal values of the advance payments excluding IFRS adjustments (interest effect).

Sono Group will recognize revenue from the satisfaction of these contract liabilities as vehicles are delivered (if not redeemed by customer prior to delivery).

The table below shows the changes in the advance payments received from customers:


	Balance as of				Balance as of
	Jan. 1, 2022	Additions	Repayment	Net interest	June 30, 2022
	kEUR	kEUR	kEUR	kEUR	kEUR
Advance payments received from customers	44,756	2,388	(1,098)	781	46,827
	44,756	2,388	(1,098)	781	46,827


	Balance as of				Balance as of
	Jan. 1, 2021	Additions	Repayment	Net interest	June 30, 2021
	kEUR	kEUR	kEUR	kEUR	kEUR
Advance payments received from customers	38,972	1,403	(488)	806	40,693
	38,972	1,403	(488)	806	40,693

7.6

Financial liabilities

Other noncurrent financial liabilities

The below table displays details on items included in other noncurrent financial liabilities:


	June 30, 2022	Dec. 31, 2021
	kEUR	kEUR
Loans and participation rights	3,740	3,718
Lease liabilities	2,406	2,635
	6,146	6,353

7.7

Other non-financial liabilities

The other non-current non-financial liabilities as of June 30, 2022 (kEUR 469; December 31, 2021: kEUR -) relate to government grants for long-term projects. Sono Group N.V. has received a grant from the European Climate, Infrastructure and Environmental Executive Agency (CINEA) for the development of electric vehicles and smart charging infrastructure. SCALE will enable and facilitate the mass deployment of electric vehicles and the accompanying smart charging infrastructure. Sono Group N.V. has received pre-financing, the purpose of which is to provide the beneficiary with a float. Due to the grant conditions and duration of the project the pre financing is classified as non-current liability.

7.8

Trade and other payables

The below table displays details on items included in trade and other payables:


	June 30, 2022	Dec. 31, 2021*
	kEUR	kEUR
Trade payables	8,670	6,866
Other payables	7,089	1,001
Contract liabilities	115	—
	15,874	7,867

*	Certain amounts have been reclassified from prior period financial statements to conform to the current presentation.

Contract liabilities represent advance payments received from solar customers, for which performance obligation has not yet been satisfied. Sono Group N.V. expects to recognize revenue within next 12 months; therefore, it is classified as a current liability. Trade and other payables increased in line with purchases mainly in the area of Research and Development associated with the deployment of SVC3 prototype.

7.9

Current other liabilities

The below table displays details on items included in other current liabilities:


	June 30, 2022	Dec. 31, 2021*
	kEUR	kEUR
Accruals and deferrals	1,635	1,271
Employee tax liabilities (wage and church tax)	571	444
Tax liabilities (taxes and interest)	57	109
Current employee benefit liabilities (incl. social security)	11	383
Miscellaneous other liabilities	6	—
	2,280	2,207

*	Certain amounts have been reclassified from prior period financial statements to conform to the current presentation.

7.10Provisions

The current provisions as of June 30, 2022 (kEUR 468; December 31, 2021: kEUR 2,202) mainly relate to onerous contracts and to a legal case with an employee. The decline of the current provisions in comparison to December 31, 2021 mainly relates to lower provisions for services to prepare consolidated annual financial statements in accordance with IFRS and services provided by our independent auditor (kEUR 37; December 31, 2021: kEUR 2,137).

In February 2022, a former employee filed a claim in court against Sono Motors GmbH. The former employee asserts that the termination of his employment relationship by us was not justified and seeks re-employment. In May 2022, the former employee expanded the claims to recover certain benefits, which he claims to have a value of EUR 14.2 million. We believe this claim to be without merit and will defend ourselves vigorously against these claims.

7.11Contingencies

In the first half of 2021, we informed our designated battery supplier that we would not purchase the battery from this supplier. The supplier has indicated that it believes it is entitled to compensation under its contract with us. In June 2022, the supplier filed an action for declaratory judgment with the Regional Court Stuttgart. The supplier currently indicates its damages to be at least kEUR 23,408. We continue to believe this claim to be without merit and will defend ourselves vigorously.

Note 8 - Disclosure of financial instruments and risk management

6 Months Ended

Jun. 30, 2022

Statement Line Items [Line Items]

Disclosure of financial instruments and risk management

8.	Disclosure of financial instruments and risk management

The table below displays information on fair value measurements, carrying amounts and categorization of financial instruments of Sono Group:


	June 30, 2022
		category		fair value
kEUR	carrying amount	(IFRS 9)	fair value	level
Noncurrent financial assets
Other financial assets
Security deposits	91	AC	75	2
Other assets	2	AC	n/a*	n/a
Current financial assets
Other financial assets
Paypal reserve	396	AC	n/a*	n/a
Receivables from payment providers and deposits	269	AC	n/a*	n/a
Debtor creditors	147	AC	n/a*	n/a
Current trade receivables	44	AC	n/a*	n/a
Current trade receivables (affiliated companies)	1	AC
Other	106	AC	n/a*	n/a
Cash and cash equivalents	89,774	AC	n/a*	n/a
Noncurrent financial liabilities
Financial liabilities
Loans and participation rights	3,740	FLAC	3,387	3
Lease liabilities	2,406	—	—	—
Current financial liabilities
Financial liabilities
Loans and participation rights	98	FLAC	n/a*	n/a
Lease liabilities	435	—	—	—
Trade payables	8,670	FLAC	n/a*	n/a
Other payables	7,089	FLAC	n/a*	n/a
Contract liabilities	115	—	—	—

*	The carrying amount approximately equals the fair value, thus no separate fair value disclosure is needed according to IFRS 7.29


	December 31, 2021
		category		fair value
kEUR	carrying amount	(IFRS 9)	fair value	level
Noncurrent financial assets
Other financial assets
Security deposits	91	AC	89	2
Current financial assets
Other financial assets
Paypal reserve	6,000	AC	n/a*	n/a
Receivables from payment providers and deposits	169	AC	n/a*	n/a
Debtor creditors	26	AC	n/a*	n/a
Current trade receivables	20	AC	n/a*	n/a
Current trade receivables (affiliated companies)	11	AC	n/a*	n/a
Other	7	AC	n/a*	n/a
Cash and cash equivalents	132,939	AC	n/a*	n/a
Noncurrent financial liabilities
Financial liabilities
Loans and participation rights	3,718	FLAC	3,466	3
Lease liabilities	2,635	—	—	—
Current financial liabilities
Financial liabilities
Loans and participation rights	31	FLAC	n/a*	n/a
Lease liabilities	441	—	—	—
Mandatory convertible notes	—	FVTPL	—	—
Trade payables	6,866	FLAC	n/a*	n/a
Other payables	1,001	FLAC	n/a*	n/a

*	The carrying amount approximately equals the fair value, thus no separate fair value disclosure is needed according to IFRS 7.29

All financial assets and liabilities for which the fair value is measured or disclosed in the interim condensed consolidated financial statements are categorized according to the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

●

Level 1 — Inputs use quoted prices in active markets for identical assets or liabilities

●

Level 2 — Inputs are inputs, other than quoted prices included in Level 1, which are directly or indirectly observable

●

Level 3 — Inputs are unobservable and have values estimated by management based on market participant assumptions which are reasonably available

Due to their short-term nature, the carrying amounts of the cash and cash equivalents and other current financial assets and liabilities approximate their fair value. The fair value of noncurrent financial assets and liabilities is determined by applying the discounted cash flow method (valuation technique). In doing so, future cash flows resulting from the financial asset or liability are discounted using an interest rate derived from an estimated credit rating.

In case of noncurrent financial assets, the counterparties are reputable financial institutions, thus credit risk has no significant influence on fair value, which leads to a classification as level 2 fair value.

As of June 30, 2022, Management has determined that the fair values of noncurrent financial liabilities at amortized cost are classified as level 3 as the credit rating is a non-observable input factor with significant influence on the fair value.

The finance department of Sono Group performs valuations including level 3 fair value measurements. In the reporting period, there are no level 3 fair value measurements.

Note 9 - Other disclosures

6 Months Ended

Jun. 30, 2022

Statement Line Items [Line Items]

Other disclosures

9	Other disclosures

9.1

Earnings per share

Basic earnings per share is calculated by dividing earnings attributable to Sono N.V. shareholders by the weighted average number of ordinary and high voting shares outstanding during the reporting period. The high voting shares entitle the shareholders to additional voting rights, but not to higher dividend rights. Since Sono Group was in a loss position for all periods presented, basic earnings per share is the same as diluted earnings per share.

The options granted (number of options granted: 2,283,740) under IFRS 2 have not been included in the determination of diluted earnings per share because their inclusion would be anti-dilutive.

9.2

Related parties

Related parties of Sono Group include the following persons as well as their close family members:

●

C-level Management

●

Supervisory Board members

Further, related parties of Sono Group also include the following entities:

●

Sono Motors Management UG

●

Sono Motors Investment UG

Sono N.V. is not controlled by any other entity, but controls Sono Motors GmbH as of June 30, 2022.

The below table displays the compensation of key management personnel:


	Six months ended	Six months ended
	June 30, 2022	June 30, 2021
	kEUR	kEUR
Short-term employee benefits	575	370
Share-based payments	929	1,165
Total compensation	1,504	1,535

The share-based payments as of June 30, 2022 relate to the CSOP (kEUR 439; June 30, 2021: kEUR 1,165) and to the share-based payment program of the supervisory board RSU (kEUR 490; June 30, 2021: kEUR -).

Since the establishment of the supervisory board in November 2021, the members have received share-based payments based on awarded restricted stock units (RSU) as part of their remuneration. Vested tranches of RSUs may be exercised at the option of Sono Group in cash or in the form of ordinary shares, therefore the RSUs are accounted for as equity-settled share-based payment transactions.

The following table illustrates the volume of the program, the weighted average fair value at measurement date as well as the total expense of the period and the corresponding increase in equity:


		June 30, 2022
Number of RSU share options		168,337
Weighted average fair value at measurement date (EUR)		6.82
Expense of the period (kEUR)		490
Increase in equity (kEUR)		490

The table below displays loans and advance payments received from key management personnel and other related parties:


	June 30, 2022	December 31, 2021
	kEUR	kEUR
Loans from key management personnel (subordinated crowdfunding loan II)	2	2
Loans from other related parties	—	—
	2	2
Advance payments received from key management personnel*	47	47
Total	49	49

*	for which 10 Sono points have been granted

The main shareholders of Sono Group N.V. have significant influence over Sono Motors Investment UG, Munich. Therefore, Sono Motors Investment UG is considered a related party. Sono Motors has received a loan amounting to kEUR 185 from Sono Motors Investment UG in 2019. The loan was due December 31, 2020, interest-paying at arm’s length (4 % p.a.) and unsecured. As of December 31, 2020, the loan had not been repaid as of the balance sheet date. Instead, it was paid back on January 5, 2021.

9.3

Subsequent events

From July 1, 2022 through September 6, 2022 and in accordance with the Ordinary Share Purchase Agreement from June 13, 2022 between the Company and Joh. Berenberg, Gossler & Co. KG (the “Investor”) the Company sold to the Investor the total of 3,454,267 ordinary shares for the total gross proceeds of USD 10,126 thousand.

Significant Accounting matters (Policies)

6 Months Ended

Jun. 30, 2022

Disclosure of Significant Accounting Policies

Going concern

4.1

Going Concern

including accumulated net losses of kEUR 208,096 as of June 30, 2022, and expects to continue to generate operating losses and negative cash flows from operations for the foreseeable future.

4.2

Corona Pandemic

4.3

Russo-Ukrainian war

Note 6 - Disclosures to the interim condensed consolidated statements of income or loss (Tables)

6 Months Ended

Jun. 30, 2022

Statement Line Items [Line Items]

Schedule of expected status of ESOP


Entitlement to ESOP		Number of Entitlements
Entitlement for 2021 tranche		158
Entitlement for 2022 tranche		301
Total		459

Schedule of table illustrating planned volume of the program, the weighted average fair value at reporting date as well as the total expense of the period and the corresponding increase in equity


June 30, 2022		Equity-settled
Number of options planned to be granted		506,379
Weighted average fair value at reporting date (EUR)		2.77
Expense of the period (EUR)		292,264
Increase in equity (EUR)		292,264

Schedule of table illustrating number of, and movements in, share options during the year


2022		Share options
January 1, 2022		0
Planned to be granted		506,379
Forfeited		0
June 30, 2022		506,379

Schedule of inputs used in determination of fair value of the share options for the equity-settled share-based transactions


	2021		2022
Input parameter	tranche		tranche
Share price (EUR	2.83		2.83
Exercise price (EUR)	0.06		0.06
Risk-free interest rate	-0.44	%	0.39	%
Expected volatility	80.5	%	67.8	%
Option life (years)	0.25		1.25
Expected dividends (EUR)	0.00		0.00

Schedule of other operating income/expenses


	Three Months ended				Six months ended
	30-Jun-22		30-Jun-21		30-Jun-22		30-Jun-21
	kEUR		kEUR		kEUR		kEUR
Other operating income		974		209		1,850		370
Income from currency valuation		974		—		1,563		—

Income relating to other periods		—		142		275		225
Income Renault ZOE		—		2		—		45
Miscellaneous		—		66		12		100

Other operating expenses		35		—		97		—
Expenses from currency valuation		34		—		78		—
Miscellaneous		1		—		19		—
		939		209		1,753		370

Disclosure of research and development expense [text block]


	Three Months ended		Six months ended
	30-Jun-22	30-Jun-21	30-Jun-22	30-Jun-21
	kEUR	kEUR	kEUR	kEUR

Development cost of prototypes	24,340	7,723	42,670	8,792
Personnel expenses	5,439	2,230	9,346	3,115
thereof related to the ESOP (IFRS 2)	211	—	211	—
Software fees and subscriptions	259	—	465	—
Professional services	48	127	165	380
Depreciation and amortization	136	58	273	105
Other	181	295	223	433
	30,402	10,432	53,142	12,825

Disclosure of general and administrative expense explanatory [text block]


	Three Months ended		Six months ended
	30-Jun-22	30-Jun-21	30-Jun-22	30-Jun-21
	kEUR	kEUR	kEUR	kEUR

Professional services	1,070	368	2,496	2,621
Personnel expenses	1,697	1,267	3,055	2,695
thereof related to the ESOP (IFRS 2)	502	909	502	1,165
Impairment	—	1,882	—	1,882
Other	1,781	250	2,045	475
	4,548	3,767	7,596	7,673

Note 7 - Interim condensed balance sheet disclosures (Tables)

6 Months Ended

Jun. 30, 2022

Statement Line Items [Line Items]

Disclosure of property, plant and equipment [text block]


	June 30, 2022	June 30, 2021
	kEUR	kEUR
Balance as of January 01	1,484	2,102
Additions	23,959	798
Depreciation	(84)	(38)
Impairment	—	(1,882)
Balance as of June 30	25,359	980

Disclosure of financial assets [text block]


	June 30, 2022	Dec. 31, 2021
	kEUR	kEUR
PayPal reserve	396	6,000
Receivables from payment providers and deposits	269	169
Debtor creditors	147	26
Current trade receivables	44	20
Current receivables (affiliated companies)	1	11
Other	106	7
Total	963	6,233

Disclosure of advance payments received from customers [text block]


	June 30, 2022	Dec. 31, 2021
	kEUR	kEUR
Advance payments received from customers	46,827	44,756
	46,827	44,756


	Balance as of				Balance as of
	Jan. 1, 2022	Additions	Repayment	Net interest	June 30, 2022
	kEUR	kEUR	kEUR	kEUR	kEUR
Advance payments received from customers	44,756	2,388	(1,098)	781	46,827
	44,756	2,388	(1,098)	781	46,827


	Balance as of				Balance as of
	Jan. 1, 2021	Additions	Repayment	Net interest	June 30, 2021
	kEUR	kEUR	kEUR	kEUR	kEUR
Advance payments received from customers	38,972	1,403	(488)	806	40,693
	38,972	1,403	(488)	806	40,693

Disclosure of financial liabilities [text block]


	June 30, 2022	Dec. 31, 2021
	kEUR	kEUR
Loans and participation rights	3,740	3,718
Lease liabilities	2,406	2,635
	6,146	6,353

Disclosure of trade and other payables [text block]


	June 30, 2022	Dec. 31, 2021*
	kEUR	kEUR
Trade payables	8,670	6,866
Other payables	7,089	1,001
Contract liabilities	115	—
	15,874	7,867

Disclosure of other current liabilities [text block]


	June 30, 2022	Dec. 31, 2021*
	kEUR	kEUR
Accruals and deferrals	1,635	1,271
Employee tax liabilities (wage and church tax)	571	444
Tax liabilities (taxes and interest)	57	109
Current employee benefit liabilities (incl. social security)	11	383
Miscellaneous other liabilities	6	—
	2,280	2,207

Note 8 - Disclosure of financial instruments and risk management (Tables)

6 Months Ended

Jun. 30, 2022

Statement Line Items [Line Items]

Disclosure of detailed information about financial instruments [text block]


	June 30, 2022
		category		fair value
kEUR	carrying amount	(IFRS 9)	fair value	level
Noncurrent financial assets
Other financial assets
Security deposits	91	AC	75	2
Other assets	2	AC	n/a*	n/a
Current financial assets
Other financial assets
Paypal reserve	396	AC	n/a*	n/a
Receivables from payment providers and deposits	269	AC	n/a*	n/a
Debtor creditors	147	AC	n/a*	n/a
Current trade receivables	44	AC	n/a*	n/a
Current trade receivables (affiliated companies)	1	AC
Other	106	AC	n/a*	n/a
Cash and cash equivalents	89,774	AC	n/a*	n/a
Noncurrent financial liabilities
Financial liabilities
Loans and participation rights	3,740	FLAC	3,387	3
Lease liabilities	2,406	—	—	—
Current financial liabilities
Financial liabilities
Loans and participation rights	98	FLAC	n/a*	n/a
Lease liabilities	435	—	—	—
Trade payables	8,670	FLAC	n/a*	n/a
Other payables	7,089	FLAC	n/a*	n/a
Contract liabilities	115	—	—	—

*	The carrying amount approximately equals the fair value, thus no separate fair value disclosure is needed according to IFRS 7.29


	December 31, 2021
		category		fair value
kEUR	carrying amount	(IFRS 9)	fair value	level
Noncurrent financial assets
Other financial assets
Security deposits	91	AC	89	2
Current financial assets
Other financial assets
Paypal reserve	6,000	AC	n/a*	n/a
Receivables from payment providers and deposits	169	AC	n/a*	n/a
Debtor creditors	26	AC	n/a*	n/a
Current trade receivables	20	AC	n/a*	n/a
Current trade receivables (affiliated companies)	11	AC	n/a*	n/a
Other	7	AC	n/a*	n/a
Cash and cash equivalents	132,939	AC	n/a*	n/a
Noncurrent financial liabilities
Financial liabilities
Loans and participation rights	3,718	FLAC	3,466	3
Lease liabilities	2,635	—	—	—
Current financial liabilities
Financial liabilities
Loans and participation rights	31	FLAC	n/a*	n/a
Lease liabilities	441	—	—	—
Mandatory convertible notes	—	FVTPL	—	—
Trade payables	6,866	FLAC	n/a*	n/a
Other payables	1,001	FLAC	n/a*	n/a

*	The carrying amount approximately equals the fair value, thus no separate fair value disclosure is needed according to IFRS 7.29

Note 9 - Other disclosures (Tables)

6 Months Ended

Jun. 30, 2022

Statement Line Items [Line Items]

Disclosure of related party [text block]


	Six months ended	Six months ended
	June 30, 2022	June 30, 2021
	kEUR	kEUR
Short-term employee benefits	575	370
Share-based payments	929	1,165
Total compensation	1,504	1,535

Disclosure of indirect measurement of fair value of goods or services received, other equity instruments granted during period [text block]


		June 30, 2022
Number of RSU share options		168,337
Weighted average fair value at measurement date (EUR)		6.82
Expense of the period (kEUR)		490
Increase in equity (kEUR)		490

Disclosure of transactions between related parties [text block]


	June 30, 2022	December 31, 2021
	kEUR	kEUR
Loans from key management personnel (subordinated crowdfunding loan II)	2	2
Loans from other related parties	—	—
	2	2
Advance payments received from key management personnel*	47	47
Total	49	49

*	for which 10 Sono points have been granted

Note 6 - Disclosures to the interim condensed consolidated statements of income or loss (Details Textual) € in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2022 EUR (€)	Jun. 30, 2022 EUR (€)	Jun. 30, 2021 EUR (€)	Jun. 30, 2022 EUR (€) employee	Jun. 30, 2021 EUR (€)	Dec. 31, 2021 EUR (€)
Statement Line Items [Line Items]
Total revenue		€ 23	€ 0	€ 42	€ 0
Cost of sales		123	0	142	0
Trade receivables		39	€ 20	39	20
Transaction price allocated to remaining performance obligations		275		275		€ 42
Interest expense				923	2,645
Interest expense on advance payments from customers				781	806
Total contract liabilities		115		115
Interest expense on long-term loans				102	155
Interest expense on lease liabilities				€ 39	23
Interest expense on mandatory convertible bonds					€ 1,661
Percentage of annual gross salary of employees that will be granted as stock options	10.00%
Minimum stock option per year and employee that will be granted	€ 5
Number of employees who signed the plan \| employee				0
Integration of solar technology
Statement Line Items [Line Items]
Total revenue		21		€ 39
Cost of sales		121		140
Sono app [member]
Statement Line Items [Line Items]
Total revenue		2		3
Cost of sales		€ 1		€ 2

Note 7 - Interim condensed balance sheet disclosures (Details Textual) € / shares in Units, $ / shares in Units, € in Thousands, $ in Thousands		1 Months Ended	3 Months Ended	6 Months Ended			12 Months Ended
	May 03, 2022 € / shares $ / shares shares	May 31, 2022 EUR (€)	Mar. 31, 2022 EUR (€)	Jun. 30, 2022 EUR (€) € / shares shares	Jun. 30, 2022 USD ($)	Jun. 30, 2021 EUR (€)	Dec. 31, 2021 EUR (€) € / shares shares	May 11, 2022 shares
Statement Line Items [Line Items]
PayPal reserve				€ 396			€ 6,000
Other current financial assets				963			6,233
Other current non-financial assets				15,367			3,236
Subscribed capital				€ 9,390			€ 8,735
Total number of shares issued (in shares) \| shares								10,930,000
Percentage of overallotment option				15.00%	15.00%
Deduction to capital reserves				€ 842		€ 17
Advances, percent cancellable				26.20%			28.00%
Advances, percent cancellable, year one				54.40%			58.00%
Advances, percent cancellable, year two				13.60%			13.00%
Advances, percent cancellable, year three				5.80%			1.00%
Other non-financial liabilities				€ 469
Financial liabilities				6,146			€ 6,353
Additions other than through business combinations, property, plant and equipment				23,959		798
Proceeds from issuing shares				39,346	$ 41,534	€ 1,500
Provisions				468			2,202
Independent auditor expenses				€ 37			€ 2,137
Termination employee benefits expense		€ 14,200
Ordinary shares [member]
Statement Line Items [Line Items]
Par value per share (in EUR per share) \| € / shares	€ 0.06
Increase in number of shares outstanding, new issuances (in shares) \| shares	10,000,000
Shares issued, price per share (in EUR per share) \| $ / shares	€ 4.00
Subscribed capital [member]
Statement Line Items [Line Items]
Total number of shares issued (in shares) \| shares				84,507,641
Subscribed capital
Statement Line Items [Line Items]
Total number of shares issued (in shares) \| shares							73,577,641
Subscribed capital \| Ordinary shares [member]
Statement Line Items [Line Items]
Par value per share (in EUR per share) \| € / shares				€ 0.06			€ 0.06
Subscribed capital \| High-voting shares [member]
Statement Line Items [Line Items]
Par value per share (in EUR per share) \| € / shares				€ 1.50			€ 1.50
PayPal reserve [member] \| Paypal reserve released [member]
Statement Line Items [Line Items]
Reserve Released			€ 5,900
Receivable for VAT and other taxes [member]
Statement Line Items [Line Items]
Other current non-financial assets				€ 2,225			€ 2,069
Prepaid expenses for construction of Sion prototype
Statement Line Items [Line Items]
Other current non-financial assets				12,871			€ 669
Prepayments To Contract Manufacturer [Member]
Statement Line Items [Line Items]
Other current non-financial assets				€ 5,323

Note 8 - Disclosure of financial instruments and risk management - Financial Assets and Liabilities (Details) - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Financial liabilities	€ 6,146	€ 6,353
Current financial liabilities	532	472
Security deposits [member]
Statement Line Items [Line Items]
Noncurrent financial assets	91	91
Security deposits [member] \| Level 2 of fair value hierarchy [member]
Statement Line Items [Line Items]
financial assets, fair value	75	89
Other assets [member]
Statement Line Items [Line Items]
Noncurrent financial assets	2
PayPal reserve [member]
Statement Line Items [Line Items]
Current financial assets	396	6,000
Receivables from payment providers and deposits [member]
Statement Line Items [Line Items]
Current financial assets	269	169
Debtor creditors [member]
Statement Line Items [Line Items]
Current financial assets	147	26
Trade receivables [member]
Statement Line Items [Line Items]
Current financial assets	44	20
Trade receivable, affiliated company [member]
Statement Line Items [Line Items]
Current financial assets	1	11
Other [member]
Statement Line Items [Line Items]
Current financial assets	106	7
Cash and cash equivalents [member]
Statement Line Items [Line Items]
Current financial assets	89,774	132,939
Loan and participation rights, noncurrent [member]
Statement Line Items [Line Items]
Financial liabilities	3,740	3,718
Loan and participation rights, noncurrent [member] \| Level 3 of fair value hierarchy [member]
Statement Line Items [Line Items]
Financial liabilities, fair value	3,387	3,466
Lease liabilities, noncurrent [member]
Statement Line Items [Line Items]
Financial liabilities	2,406	2,635
Loan and participation rights, current [member]
Statement Line Items [Line Items]
Current financial liabilities	98	31
Lease liabilities, current [member]
Statement Line Items [Line Items]
Current financial liabilities	435	441
Trade payables [member]
Statement Line Items [Line Items]
Current financial liabilities	8,670	6,866
Other payables [member]
Statement Line Items [Line Items]
Current financial liabilities	7,089	€ 1,001
Contract liabilities [member]
Statement Line Items [Line Items]
Current financial liabilities	€ 115

Note 4 - Significant Accounting Policies (Details Textual) € in Thousands, $ in Thousands	1 Months Ended		6 Months Ended
	May 31, 2022 EUR (€)	Nov. 30, 2021 EUR (€)	Jun. 30, 2022 EUR (€)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 EUR (€)	Dec. 31, 2021 EUR (€)
Statement Line Items [Line Items]
Accumulated deficit			€ (208,096)			€ (147,081)
Proceeds from issue of ordinary shares		€ 142,334		$ 150,000
Amount raised from public offering.	€ 39,700
Net proceeds from second public offering			39,346	$ 41,534	€ 1,500
Second public offering
Statement Line Items [Line Items]
Net proceeds from second public offering	€ 39,300
Committed equity facility with Berenberg
Statement Line Items [Line Items]
Proceeds from issue of ordinary shares			€ 122,000
Period over which shares are to be issued to Berenberg			24 months	24 months
Limit on the number of shares that Company may decide to sell to Berenberg on any given day, percentage of trading volume			20.00%	20.00%

Note 5 - Segment Information (Details Textual)	6 Months Ended
Note 5 - Segment Information (Details Textual)	Jun. 30, 2022
Statement Line Items [Line Items]
Number of operating segment	1
Number of reportable segment	1

Note 6 - Disclosures to the interim condensed consolidated statements of income or loss - Expected Status Of ESOP (Details) - Employee Stock Option Program or ESOP	6 Months Ended
	Jun. 30, 2022 item
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of entitlements	459
Employee Stock Option Program, Tranche in 2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of entitlements	158
Employee Stock Option Program, Tranche in 2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of entitlements	301

Note 6 - Disclosures to the interim condensed consolidated statements of income or loss - Planned Volume Of The Program, Weighted Average Fair Value, Total Expense And Corresponding Increase In Equity (Details) - EUR (€) € / shares in Units, € in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average fair value at reporting date (EUR)	€ 2.83	€ 2.83
Increase in equity (kEUR)	€ 1,221	€ 1,165
Proportionate fair value of ESOP recognized in other general and administrative expense	61
Proportionate fair value of ESOP recognized in selling and distribution expense	20
Proportionate fair value of ESOP recognized in cost of research and development	€ 211
Employee Stock Option Program or ESOP
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options planned to be granted	506,379
Weighted average fair value at reporting date (EUR)	€ 2.77
Expense of the period (kEUR)	€ 292,264
Increase in equity (kEUR)	€ 292,264

Note 6 - Disclosures to the interim condensed consolidated statements of income or loss - Inputs used in determination of fair value of the share options for the equity-settled share-based transactions (Details)	6 Months Ended
	Jun. 30, 2022 € / shares	Jun. 30, 2022 USD ($)	Jun. 30, 2021 € / shares	Jun. 30, 2021 USD ($)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share price (EUR)	€ 2.83		€ 2.83
Exercise price (EUR)	0.06		€ 0.06
Risk-free interest rate		0.39%		(0.44%)
Expected volatility		67.80%		80.50%
Option life (years) \| $		1.25		0.25
Expected dividends (EUR) \| $		$ 0.00		$ 0.00
Employee Stock Option Program or ESOP
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share price (EUR)	€ 2.77

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - EUR (€) € in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Capital increase, transaction costs	€ 842	€ 17

Note 6 - Disclosures to the interim condensed consolidated statements of income or loss - Number of, and movements in, share options (Details)	6 Months Ended
	Jun. 30, 2022 USD ($) Options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Planned to be granted \| $	2,283,740
Employee Stock Option Program or ESOP
Disclosure of terms and conditions of share-based payment arrangement [line items]
Beginning balance	0
Planned to be granted	506,379
Forfeited	0
Ending balance	506,379

Note 7 - Interim condensed balance sheet disclosures - Property, plant and equipment (Details) - EUR (€) € in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Disclosure of detailed information about property, plant and equipment [abstract]
Balance as of January 01	€ 1,484	€ 2,102
Additions	23,959	798
Depreciation	(84)	(38)
Impairment		(1,882)
Balance as of June 30	25,359	980
Additions mainly relate to capitalization of prepayments made for assets under construction	€ 16,377	€ 16,377

Note 7 - Interim condensed balance sheet disclosures - Financial Liabilities (Details) - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Loans and participation rights	€ 3,740	€ 3,718
Lease liabilities	2,406	2,635
Total non-current financial liabilities	€ 6,146	€ 6,353

Note 7 - Interim condensed balance sheet disclosures - Trade and other payables (Details) - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Note 7 - Interim condensed balance sheet disclosures - Trade and other payables (Details)
Trade payables	€ 8,670	€ 6,866
Other payables	7,089	1,001
Contract liabilities	115
Total trade and other current payables	€ 15,874	€ 7,867

Note 7 - Interim condensed balance sheet disclosures - Current Other Liabilities (Details) - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Accruals and deferrals	€ 1,635	€ 1,271
Employee tax liabilities (wage and church tax)	571	444
Tax liabilities (taxes and interest)	57	109
Current employee benefit liabilities (incl. social security)	11	383
Miscellaneous other liabilities	6
Other current liabilities	€ 2,280	€ 2,207

Note 7 - Interim condensed balance sheet disclosures - Contingencies (Details) € in Thousands	1 Months Ended
	Jun. 30, 2022 EUR (€)
Disclosure of contingent liabilities [abstract]
Estimated Supplier Compensation Expenses	€ 23,408

Note 9 - Other disclosures (Details Textual) € in Thousands	6 Months Ended
Note 9 - Other disclosures (Details Textual) € in Thousands	Jun. 30, 2022 EUR (€) USD ($)	Jun. 30, 2021 EUR (€)	Dec. 31, 2020	Dec. 31, 2019 EUR (€)
Statement Line Items [Line Items]
Granted \| $	2,283,740
Share-based payments	€ 929	€ 1,165
Sono Motors Investment UG [member]
Statement Line Items [Line Items]
Total borrowings				€ 185
Borrowings, interest rate			4.00%
CSOP
Statement Line Items [Line Items]
Share-based payments	439	€ 1,165
RSU
Statement Line Items [Line Items]
Share-based payments	€ 490

Note 9 - Other disclosures - Volume of the program, the weighted average fair value at measurement date (Details) € / shares in Units, € in Thousands	6 Months Ended
	Jun. 30, 2022 EUR (€) USD ($) € / shares	Jun. 30, 2021 EUR (€)
Statement Line Items [Line Items]
Increase in equity (kEUR)	€ 1,221	€ 1,165
RSU
Statement Line Items [Line Items]
Number of RSU share options \| $	168,337
Weighted average fair value at measurement date (EUR) \| € / shares	€ 6.82
Expense of the period (kEUR)	€ 490
Increase in equity (kEUR)	€ 490

Note 9 - Other disclosures - Loans and Advance Payments from Key Management Personnel and Other Related Parties (Details) - EUR (€) € in Thousands	Jun. 30, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Loans from key management personnel and other related parties	€ 2	€ 2
Advance payments received from key management personnel*	47	47
Total	49	49
Key management personnel of entity or parent [member]
Statement Line Items [Line Items]
Loans from key management personnel and other related parties	€ 2	€ 2

Note 9 - Other disclosures - Subsequent events (Details) € in Thousands, $ in Thousands	1 Months Ended	2 Months Ended	6 Months Ended
	Nov. 30, 2021 EUR (€)	Sep. 06, 2022 USD ($) shares	Jun. 30, 2022 USD ($)
Disclosure of non-adjusting events after reporting period [line items]
Gross proceeds from issuance	€ 142,334		$ 150,000
Shares sold
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued \| shares		3,454,267
Gross proceeds from issuance \| $		$ 10,126