Two years ago, NEVS and Sono Motors announced the planned production of the Sion in Trollhättan. Up until now it was believed that the contracts were binding. However, these do not yet exist, as NEVS CEO Stefan Tilk announced in an interview with Dagens Nyheter. In Trollhättan, the first thing they do is wait for Sono Motors to go public. Only then do you want to sign binding contracts with the Munich company.
Successful IPO is a prerequisite
Sono Motors passed that on October 22nd Registration Form for the planned IPO. The company hopes to be able to raise the necessary funds for the production of the Sion. Only then does NEVS want to conclude binding contracts. In the Dagens Nyheter interview, that Electrive.com had made public, Tilk emphasizes that the production for NEVS "must be worthwhile". A remark that suggests that the production fees have not yet been fixed.
In general, the situation in the Stallbacka seems to have been clarified and viewed with a previously unfamiliar kind of realism. Because NEVS will not “stand or fall” with the order, but welcome the “additional service”. So far, Sono Motors has been using test benches and test facilities in the old Saab factory. NEVS also supported the Munich-based company in the manufacture of some components for the Sion and prepared parts of the factory for production.
Start of production in 2023?
The inevitable question is how resilient is Sono Motors' schedule under these circumstances? In Munich, the last quarter of 2022 is currently being proclaimed, and after several postponements. NEVS CEO Tilk says that 2023 “would work”. However, one must not forget that there are 12 months in a year and that 2023 is therefore a broad field.
290 fewer employees
NEVS now also has the negotiations completed on downsizing. 225 employees will lose their jobs if they quit. 75 of them from the workshop and production area, 150 from development and administration. The remaining jobs have been cut by employees who have already submitted their resignation. NEVS almost halves the number of jobs.
The company is thus embarking on a strict austerity course and hopes to bridge the time until the sale or entry of new investors.