The Munich startup Finn, which secured an investment of 103 million euros at the beginning of the summer, offers its customers flexible car subscriptions that include all additional costs such as tax, insurance, tires, and maintenance. Subscribers only have to cover the costs of fuel or electricity themselves. According to the company, 30 percent of its fleet already consists of electric vehicles. To further make its offering sustainable, Finn is now expanding its Sion reservations at Sono Motors from 5,500 to 12,600 cars.
The two companies aim to reach a final agreement on their collaboration in 2023. Production of the Sion is scheduled to begin in the second half of 2023. The company plans to start production in 2024. Sono Motors the delivery of 100 Sion vehicles to Finn. After that, a further 2,500 vehicles will be delivered per year until the total number of 12,600 is reached. The delivered vehicles will be used for Finn's service in Germany.
Only at the beginning of the month, Sono Motors was able to announce that the company more than 20,000 direct customer reservations with an average down payment of around €2,000 net. The net selling price is expected to be €25,126. Sono Motors's goal is to bring the Sion, a solar-powered electric car, to the mass market.
Asset-light approach
Sono Motors is currently manufacturing a fleet of series validation vehicles for the Sion test program, which has already begun, in Munich near its headquarters. Over the coming months, this vehicle generation will undergo practical testing under extreme conditions in both Europe and the USA. These include series validation, homologation, crash tests, testing in various climate zones, the optimization and validation of solar technology, and the refinement of driving dynamics on test tracks and public roads.
The Munich-based mobility startup pursues an “asset-light” approach: Production is scheduled to start in the second half of 2023 with contract manufacturer Valmet Automotive in Uusikaupunki, FinlandThis eliminates the need to build their own production facilities. After a ramp-up phase, the partners aim to produce approximately 257,000 Sion vehicles within seven years.
