Sono Motors originally aimed to raise €50 million within 30 days with a community funding campaign. However, since the goal was not reached, the Munich-based mobility startup extended the deadline by 20 days, until January 20, 2020. The company has now announced the successful completion of the crowdfunding campaign.
With the Sion vehicle concept, Sono Motors aims to represent the mobility of the future: The company's goal is to reduce the number of vehicles on the roads through more sustainable and efficient use. Therefore, the Sion will be delivered with integrated sharing options. These allow the owner to share the car itself, individual trips, or even energy via a mobile application developed by Sono Motors (the goSono app).
Successful thanks to extension
After the campaign failed to reach its goal in the first attempt, the startup let its community vote: They decided to extend the period and Sono Motors went on the offensive again with an advertising campaign. Not only were more consumers convinced to pre-order a Sion, but two existing major investors also reportedly increased their deposits.
Thanks to the successful campaign, the company can now fulfill its promise to share future profits with those who reserve a Sion through a community pool. The startup expressed its gratitude online for their support. website it says something like:
"In 50 days, we exceeded our goal of €50 million in one of the largest community funding campaigns ever. We are overwhelmed and say thank you! To a great community and to investors who stand by our values."
This is the second successful crowdfunding campaign for Sono Motors. In 2016, the three founders, Jona Christians, Navina Pernsteiner, and Laurin Hahn, raised around €300,000 for prototype development through a Kickstarter campaign.
Sono Motors produced in Sweden
The production start of the Sion is scheduled for autumn 2021 by National Electric Vehicle Sweden (NEVS) planned at the Trollhättan siteThe plant there housed production lines for the automobile manufacturer Saab. To raise the necessary capital, Sono Motors plans to sell CO₂ certificates. Since the startup only produces electric cars itself, it can sell its certificates to manufacturers who need to purchase additional certificates for their fleet of gasoline and diesel vehicles. If all goes well, the first customers could board their Sions in early 2022.
