{"id":90154,"date":"2023-03-28T15:37:00","date_gmt":"2023-03-28T13:37:00","guid":{"rendered":"https:\/\/cms.munich-startup.net\/?p=90154"},"modified":"2023-03-28T12:04:03","modified_gmt":"2023-03-28T10:04:03","slug":"sono-motors-is-threatened-with-insolvency","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/90154\/sono-motors-is-threatened-with-insolvency\/","title":{"rendered":"Is Sono Motors facing bankruptcy?"},"content":{"rendered":"
\n

How Capital<\/a><\/em> first reported, writes Sono Motors in a current Mandatory notification to the US Securities and Exchange Commission (SEC)<\/a>: <\/p>\n\n\n\n

\u201cOur auditors have expressed significant doubts about our ability to continue as a going concern.\u201d<\/p><\/blockquote>\n\n\n\n

The next audit report is expected to conclude "that our capitalization at the time of the audit report will be insufficient to sustain our business operations." Due to ongoing losses and uncertainty regarding further financing rounds, there is a "significant risk that we could cease to exist as a company and become insolvent," Sono Motors said in the statement.<\/p>\n\n\n\n

Can Sono Motors refund the Sion deposits?<\/h2>\n\n\n\n

First End of February<\/a> The Munich-based startup has abandoned its Sion solar car project. The company had previously attempted to secure an additional 3,000 pre-orders for the car in a large-scale campaign to finance further development. After the campaign failed, the company announced that it would focus on B2B business in the future. Sono offers solar technology for retrofitting and integration into third-party vehicles.<\/p>\n\n\n\n

Laurin Hahn<\/strong>, co-founder and CEO of Sono Motors, said at the time:<\/p>\n\n\n\n

"Even though we had to discontinue our original passion project with the Sion program, shifting our entire focus to B2B solar solutions offers us the opportunity to continue developing innovative products in the solar industry. Despite more than 45,000 reservations and pre-orders for the Sion, we were forced to respond to the ongoing instability in the financial markets and streamline our business."<\/p><\/blockquote>\n\n\n\n

How Capital <\/em>As reported, the company still had approximately \u20ac29 million in cash on hand as of December 31, 2022. However, more than \u20ac40 million would be needed just to reimburse the down payment already made for the failed solar car. Sono Motors also states that it is currently not generating "significant revenue" from its solar division. To reposition itself, the company is currently seeking further investments. A further \u20ac25 million is needed to continue operations until the end of the year.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

After the end of the Sion solar car, Sono Motors wanted to reposition itself and accelerate its B2B business. However, in a recent filing with the U.S. Securities and Exchange Commission, the startup now expresses "significant doubts" about the continued existence of its own business operations.<\/p>","protected":false},"author":26,"featured_media":85601,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5638,1],"tags":[731,1888],"acf":[],"yoast_head":"\nDroht Sono Motors die Insolvenz? - Munich Startup<\/title>\n<meta name=\"description\" content=\"In einer aktuellen Meldung an die US-B\u00f6rsenaufsicht \u00e4u\u00dfert Sono Motors "erhebliche Zweifel" am Fortbestehen des eigenen Gesch\u00e4ftsbetriebs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cms.munich-startup.net\/en\/90154\/sono-motors-is-threatened-with-insolvency\/\" \/>\n<meta property=\"og:locale\" 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