Sono Motors Kills Sion Solar EV, Puts Program Up For Sale via insideevs.com
Sono Motors has killed the Sion solar electric passenger car project, the EV startup has announced in a statement.
Effective today, the company will pivot its business model to"exclusively retrofitting and integrating its solar technology onto third party vehicles." Sono Motors says the termination of the Sion program reflects a decision"to focus on a capital-light business model in light of depressed capital market conditions."placed a heavy burden on the company's budget since an estimated 90 percent of the funding needs for 2023 were generated by the solar passenger car project.
The Munich-based company noted that it is now implementing a significant cost reduction program given the resource-intensive nature of the Sion program, including personnel requirements. In this context,So what happens with the 45,000 paid reservations for the Sono Sion? Well, the company announced a payback plan to reimburse in various installments including a bonus over the next two years.
The company added that it will continue to utilize patented technology developed in the Sion program in its. Sono Motors aims to focus specifically on buses and third-party OEM cars, in addition to refrigerated trucks and recreational vehicles. It is currently working as a development-partner and supplier with 23 companies across ten countries in Europe, Asia, and the United States. Customers include Mitsubishi Europe, Chereau, Scania, and MAN Truck & Bus.will now scale up its technology, starting with the introduction of the next generation of its mass-market-ready retrofit solution for cleaner public transportation – the 'Solar Bus Kit' – planned for the second quarter of 2023.
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