Sono Motors extends crowdfunding campaign

Are there still chances that the Sion will be built in Trollhättan? After the bad news in December there is now a new glimmer of hope. Because the community voted to extend the crowdfunding campaign until January 20th. And with a pretty clear result.

The Sion when camping
The Sion when camping. Picture: Sono Motors

A mobility project funded by the community? Is that possible? Munich is of the same opinion, has collected around € 33 million so far, and is plunging into the missing 17 million. Before the campaign was allowed to go into extension, the supporters had to decide. Basic democracy in automotive engineering, a refreshingly new aspect. 7.509 participants voted, 7029 voted in favor. The application was accepted with 93,61% of the vote.

Sion development plan
Sion development plan. Source: Sono Motors

The largest crowdfunding project in Europe thus makes it into the renewal, The required € 20 million should be complete by January 50. Sono Motors will continue to stir the drum and gain support and sympathy on all channels. If the goal is reached, prototypes are built, development is completed and the necessary tests for approval are prepared. Sono Motors recently published the sequence of the schedule in the course of new transparency. By 2022, the Sion will continue to move towards production in the former Saab factory, but there is still a € 205 million hurdle between vision and reality. One wants to remove this obstacle with further funds from the community and external financing in the amount of € 70 million.

Fiction or reality?

The desired construction of the Sion can now be made possible in three ways. One-off donations, loans, or the down payment of a reservation can be selected. If the project of a sustainable automotive company is successful, then it is unique in the industry. The idea itself is not that new. In 3 and 2011 there were considerations in the Saab environment to save the brand from extinction with a crowdfunding campaign. At that time, however, reality overtook the turbo-paced vision. It quickly became clear that it would have been much more than “just” around € 2012 million. At the price of the Sion, Saab could not have been renovated in the beginning. An amount in the billions would have been necessary.

However, building an electric car is cheap. Especially when you don't have to build your own plant and can commission a contract manufacturer like NEVS to do it.

2 thoughts too "Sono Motors extends crowdfunding campaign"

  • Isn't it awkward to set the action so tight again? Many people are still on winter vacation?

    Answer
  • The financing model is very complex.

    The pre-orders are credit and debit at the same time, since the car is owed and production costs have to be priced in.

    The model therefore consists of several curves, which ultimately depend on the number of pieces and which, at around € 180 million in pre-orders, cross around € 70 million below the black zero, which is why this amount is again from one or more investors and not from the crowd should come.

    And this is the simplified representation of this model, which also includes donations and small loans by the crowd, which in turn develop their own interaction in the game of having and should on the 180 million from the crowd.

    I hope that everyone involved, that Sono and the Sion community understand this complexity and have it under control.
    And that's not rhetoric. I wish you much success.

    Answer

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