German Startup Sono Motors Files For US IPO

Sono Motors is a Munich-based EV startup. It has filed for a US IPO. The brand aims to produce an all-electric hatchback with solar cells integrated into its body. This design is named the Sono Sion. It has a claimed range of up to 305 kilometers (190 miles). Although many have labeled it ugly and unsightly. But, per Sono Motors, the Sion promises great tech and an affordable price. The company says it will start at just €25,500 ($29,700) in Germany.

Demand has been strong as well, with Sono’s IPO filing suggesting the firm has received approximately 14,000 reservations. This equates to around €300 million ($349 million) in net sales volume. It also means Sono has received €38.8 million ($45.2 million) in revenue from deposits. However, that clearly won’t be sufficient to see through production and hence Sono is filing for an IPO.

solar electric vehicle

Sono’s IPO filing revealed more details about production, which is now aimed for the first half of 2023. The Sion will be charged both by the sun and traditional power outlets and is aimed at being an affordable option amidst the waves of upcoming EVs priced higher than the average ICE car.

Per Reuters Sono Motors will reportedly seek a valuation of over $1 billion. For reference, another EV startup – Rivian, also aspires to go public soon and will seek a valuation of around $80 billion. So, maybe we can expect Sono stock to become quite a smart buy then? Only time will answer this.

Photo of Alex


Alex is a seasoned editor and writer with a deep passion for technology and startups. With a background in journalism, content creation, and business development, Alex brings a wealth of experience and a unique perspective to the ever-changing world of innovation. As the lead editor at Startup World, Alex is committed to discovering the hidden gems in the startup ecosystem and sharing these exciting stories with a growing community of enthusiasts, entrepreneurs, and investors. Always eager to learn and stay updated on the latest trends, Alex frequently attends industry events and engages with thought leaders to ensure Startup World remains at the forefront of startup news and insights. Alex's dedication and expertise help create an engaging platform that fosters knowledge-sharing, inspiration, and collaboration among tech-savvy readers worldwide.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button