Launch of Community Funding Initiative by our group, aiming to accumulate 50 million euros
### Community Funding Campaign Launched for Solar Electric Vehicle Production: Sion
In a groundbreaking move, German mobility provider Sono Motors has launched a community funding campaign for the production of their revolutionary solar electric vehicle, the Sion. The campaign, which commenced on December 2nd, 2019, aims to secure 50 million euros, primarily to fund the production of Sion prototypes.
The Sono Sion is an innovative solar-powered electric vehicle that combines conventional battery charging with integrated solar panels. This unique design extends the vehicle's range by up to 245 kilometers per week under ideal conditions, making it a game-changer in sustainable mobility. The vehicle features 456 half-cell solar panels integrated into its body, a first in production vehicles.
The campaign targets environmentally conscious consumers, early adopters of renewable energy technologies, and those interested in innovative mobility solutions. To engage this audience, Sono Motors plans to utilize social media platforms, host events, and webinars, and collaborate with eco-friendly companies and mobility services.
In addition to traditional crowdfunding platforms like Kickstarter or Indiegogo, the company will offer tiered rewards for backers, such as exclusive merchandise, early access to the vehicle, or even a chance to test drive the Sion. Content marketing, including informative blog posts and videos, will also be used to highlight the vehicle's technology and environmental impact.
The decision to opt for community funding is a rejection of teaming up with investors who do not share or support the company's vision and goals. The capital raised will be used transparently, with regular updates provided to backers on its usage and the progress towards production.
Sono Group's disruptive solar technology can be seamlessly integrated into various vehicle architectures, including third-party OEM cars, buses, refrigerated vehicles, and recreational vehicles. The Sion's solar cell integration allows for independence from charging infrastructure over short distances, making it a more sustainable and cost-effective option compared to traditional vehicles.
The Sion is set to be manufactured with renewable energy in Sweden, with a total of 257,000 vehicles planned. Up to 5,800 kilometers of free and carbon-neutral range can be generated annually with the Sion due to its solar cell integration. This production strategy aligns with Sono Group N.V.'s mission to accelerate the mobility revolution by making every vehicle solar.
The founding team currently holds around 74 percent of the company's shares and 64 percent of the profit participation rights. In a significant move, they are transferring their remaining shares of the profits to a Community Pool and transferring future profits to existing Sion reservation holders. This decision further emphasizes the company's commitment to its community and its shared vision for a sustainable future in mobility.
In the same vein of promoting transparency and community engagement, Sono Motors will utilize technology to streamline the community funding process by accepting donations online and offering various investment tiers. This innovative approach of blending finance, business, and technology could set a precedent for future funding models in the sustainable technology sector.
Embracing this crowdfunding challenge, Sono Motors iteratively plans to expand their partner network with a focus on technology companies and businesses committed to sustainability, possibly seeding inventive collaboration opportunities in the realm of renewable energy and mobility.
