Solar car OEM Sono Motors to raise funds through investment and loan

The company had showcased its solar-powered EV ‘Sion’ with a range of 250km per charge. Retailing at 16,000 € (Rs 12.23 lakh) without battery, along with an option to avail battery at a one-time transaction of less than 4,000 € (Rs 3.05 lakh) or renting it on a per month basis.

With Sono Motors looking at starting mass-production of the EV, the company has launched two investment campaigns one on Seedr where investors can acquire stake in the company and WiWin for granting loans to the German start-up.

“Investors have different options to support Sono, either by providing debt or equity, depending on their personal preferences. By joining our campaign, participants can grow with us and profit from our success, in a fair, transparent and sustainable manner," commented Martin Sabbione, CFO, Sono Motors, on the launch of the campaign.

Commenting on the unique approach, Laurin Hahn, Ceo, Sono Motors said, "We can secure our independence and build the car that people really want. Our crowd-funding campaign in 2016 has shown us what can happen when many people are enthusiastic about an idea. Via crowd investment, we can take the Sion and Sono Motors to the next level."