Sono Motors Needs to Raise $50 Million Over the Next 30 Days

Sono Motors needs investors to raise $50 million over the next 30 days, and the German startup will come with a different approach to this, crowdfunding. Although founded recently (2016), the company is dealing with difficulties.

The carmaker drew attention for an unusual electric car powered by the energy captured by solar panels. Named Sion, the small one, has 330 solar cells installed in parts such as the roof and hood. It can run up to 155 miles and can add up to 30 km of range per day.

“We realized again and again over the past few months that we have entirely different goals to traditional financial investors. Aggressive growth and quick profits are difficult to reconcile with a sustainable corporate and vehicle concept, which is designed to give access to affordable and eco-friendly electromobility throughout. In addition, providing startups that have a capital-intensive business model with venture capital work in Germany, neither in the initial stages nor at the growth stage. Had we relied solely on funding measures or the German market environment, Sono Motors would probably not exist in its current form. Urgent action is required from the politicians in this area. It should be possible to implement such a future project in Germany and lead it to economic success. We will continue to fight anyhow. For climate-friendly mobility and for our reservation holders” said Laurin Hahn, co-CEO and co-founder of Sono Motors.

Sono has concerns that go beyond a profit-focused startup, which has cost the company dearly. Jona Christians, co-CEO and co-founder of Sono Motors explains that “We were becoming our pledge to the community and the investors’ demands and were increasingly moving away from who we really are, which is something we absolutely had to correct. Social responsibility and climate protection would otherwise have fallen by the wayside, and so would all that we stepped up to. We are now focusing on continuing to fund our innovative vehicle concept together with people who want to see the Sion on the road – together with a community that asks for a company which acts responsibly, critically questions itself, and can be honestly judged on the basis of the statements it makes.”

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