Solar car sion again on the tipping: IPO is becoming an obstacle course – News

Sono Motors prepares its corridor to the US TechnologieS Nasdaq. According to a report, the Munich solar car developer has submitted the corresponding forms and would like to be under the abbreviation in the future "SEV" look down. But the planned IPO could turn into an obstacle course. There is still no binding production agreement.

Before the start of production, Sono Motors is looking for fresh money before the production start of its only model Sion. That should now be a report of the "Manager magazine" According to a IPO on the US TechnologieSt Nasdaq, come in. And apparently the chances are not that bad at all. According to a report by the Reuters news agency, the start-up company, which was founded in a garage in Munich in 2016, could be assessed with significantly more than one billion dollars.

The plans of the three founders Jona Christians, Navina Pernsteiner and Laurin Hahn to generate further growth in securities and not through crowdfunding, are nothing new. Already in December of last year that was "Manager magazine" The company’s plans reported to apply for a listing on Nasdaq.

According to Sono, 14 are already.000 paid reservations for the Sion before. They had flushed almost 39 million euros into the cash register by the end of August 2021. With the IPO, the millions missing for the start of production are to be recorded. However, the number of shares offered and the price range for the possible offer have not yet been determined.

NEVS: No binding production agreement

According to the IPO, the first solar car should be delivered from 2023. But this is exactly where the latest reports seem to have been. The Swedish car maker National Electric Vehicle Sweden (NEVS), the Sono Motors in 2019 as "ideal partner" had now reported that there was no binding production agreement between the Scandinavians and Bayern at all.

In the Swedish daily newspaper "Dagen’s nyheter" made NEVS boss Stefan Tilk clear: "We have no production agreement. First you have to carry out your IPO and procure money. Then we can start talking." A start of production in 2023 is quite possible, but it must also be worthwhile for the Swedish car manufacturer. "It is an additional service and additional income. We do not stand with that", so tilk. So far, the Scandinavians Sono Motors have supported them to design parts for the Sion. In addition, they have already started to prepare parts of the factory in Trollhattan, where the solar car is to be built.

Sono: Preparations are under schedule

Sono Motors wanted a report by Electrive.According to no, do not clearly express the current situation. Instead, there was an update for cooperation. They named NEVS as a production partner, but did not let it look out whether there are contractually secured agreements. "The preparations for pre-series production in 2022 and Sion series production in the first half of 2023 are already underway", said a company spokesman.

Conclusion: The production of the Sion is wanted on both sides, but depends on the suspension due to financial and company organizational reasons. The extent to which this affects the planned IPO of Munich.

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This article was written by Dan Kay
The original to this post "Solar car sion again on the tipping: IPO is becoming an obstacle course" comes from site.

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