Sono Group N.V. - SEV STOCK NEWS

Sono Motors reported a significant surge in revenues for Q3 2022, hitting €138k, six times higher than Q2. The company has achieved 21,000 B2C reservations and 22,000 B2B pre-orders, indicating potential sales of around €1 billion. Additionally, Sono Motors announced a partnership with Bosch to train 50 service centers for Sion maintenance and showcased its technology at IAA Transportation. Despite a net loss of €43.5 million, Sono Motors launched a fundraising campaign to support production and plans to produce Sion vehicles in 2023 amidst challenging market conditions.

Sono Motors and Bosch have entered into a collaboration to create a service network for the Sion, Sono's solar electric vehicle. Initially, 50 Bosch Car Services in Germany will be trained and authorized to provide maintenance and repairs. The network aims to expand across Europe, enhancing service accessibility for Sion owners. Additionally, Sono Motors plans to supply 22,000 independent car repair shops in Germany with a simplified service manual. This partnership highlights Sono's commitment to customer service and the promotion of solar electric mobility.

Sono Motors has partnered with Scania and LLT to implement solar technology in public transport buses in Luleå, Sweden. Six Scania Citywide K320 diesel buses have been retrofitted with Sono's Solar Bus Kit, which features a 1 kW peak installation. This initiative aims to optimize solar efficiency for northern climates, potentially saving approximately 2.9 tonnes of CO2 and up to 1,100 liters of diesel per bus annually. The project supports LLT's goal of reducing its carbon footprint, with plans to transition half of its fleet to electric by 2030.

Sono Motors reported significant growth in Q2 2022, with revenues 2.6 times higher than FY 2021. The company has secured 21 B2B solar projects and has over 20,000 reservations for its solar-electric vehicle, the Sion, totaling a projected sales volume of €435 million. Operational expenses have risen due to increased prototype development, with cash reserves at €89.8 million. Despite growth, losses remain significant, totaling €34.8 million in Q2. Looking ahead, key projects will debut at IAA Transportation, and the Sion will be presented to a U.S. audience by year-end.

Sono Motors, the Munich-based solar mobility OEM (NASDAQ: SEV), signed a Letter of Intent with FINN to reserve and purchase 12,600 Sion vehicles, aimed at enhancing their sustainable fleet. Deliveries to FINN are set to begin in 2024, with an initial 100 units planned for that year. As of September 1, 2022, Sono Motors has over 20,000 reservations for the Sion, with a projected net sales price of €25,126, potentially making it the first solar electric vehicle for the masses.

Sono Motors announced the signing of a Letter of Intent (LoI) with ÖPNV-Service Hagen to form a strategic partnership for its Solar Bus Kit. This kit aims to reduce fuel consumption and greenhouse gas emissions in public transportation by utilizing solar power. ÖPNV-Service, with over 15 years in public transport, will assist in installation and maintenance. The Solar Bus Kit can save up to 1,500 liters of diesel and 4 tonnes of CO2 annually per bus. The partnership may expand to sales and distribution, with operational launch expected in Q4 2022.

As of September 1, 2022, Munich-based Sono Motors, a solar mobility OEM, announced over 20,000 direct consumer reservations for its Sion vehicle, averaging a down payment of €2,000. Priced at an expected net sales point of €25,126, the Sion aims to be the world's first mass-market solar electric vehicle (SEV). Production is slated to begin in the second half of 2023, with a goal of manufacturing around 257,000 Sion vehicles in seven years in collaboration with Valmet Automotive.

Sono Motors, based in Munich, has debuted the Sion, the world’s first affordable solar electric vehicle (SEV), at its inaugural “Celebrate the Sun” event. The company showcased its Solar Bus Kit, a scalable solution aimed at reducing greenhouse gas emissions in urban transport. As of July 1, 2022, Sono Motors reported over 19,000 customer reservations and projected a net sales volume of around €415 million. The Sion aims for production in late 2023 through contract manufacturing.

Sono Group N.V. (NASDAQ: SEV) reported Q1 2022 revenues surpassed full-year 2021 figures, driven by 5 new B2B partnerships and significant solar technology integration. The company has 18,000 reservations for its Sion vehicle, translating to a potential sales volume of €393 million. However, Q1 2022 net loss grew to €25.9 million, driven by operational expenses linked to prototype development. Notably, cash reserves increased 190.1% year-over-year. The company anticipates further revenue in Q4 2022 and plans to start Sion production in H2 2023.