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- FINN and Sono Motors Signed a Letter of Intent Concerning the Reservation and Purchase of 12,600 Sion
- Deliveries to FINN are Expected to Begin in 2024
MUNICH, Germany, Sept. 07, 2022 (GLOBE NEWSWIRE) — Sono Motors (subsidiary to “Sono Group N.V.”, NASDAQ: SEV), the Munich-based photo voltaic mobility OEM, signed a Letter of Intent with FINN, a Munich-based automobile subscription platform, aiming to solidify their cooperation. FINN was one in every of Sono Motors’ first B2B reservation holders. Following its preliminary, non-binding reservation of 5,500 Sion in 2020, FINN now intends to reserve and buy a complete of 12,600 Sion, to create a sustainable fleet and drive ahead the corporate’s environmental objectives. Sono Motors and FINN search to attain a remaining settlement relating to their cooperation in 2023.
The purpose of the cooperation is to present vehicles to FINN to enlarge the sustainability of their fleet. Start of manufacturing for the Sion is deliberate for the second half of 2023 and Sono Motors plans to ship 100 Sion for FINN’s fleet in 2024. An extra 2,500 autos are deliberate to be delivered thereafter per 12 months, till the whole of 12,600 is reached. FINN plans to use these Sion for his or her service in Germany.
FINN is a Munich-based versatile automobile subscription platform, working within the U.S. and Germany. With already 30 % of the entire fleet being electrical vehicles, the corporate is wanting to additional diversify its vary and to make mobility extra local weather pleasant.
On high, Sono Motors reported greater than 20,000 direct client reservations (B2C) as of 1 September 2022, with a mean down-payment of about €2,000 web. At an anticipated web gross sales value level of simply €25,126 – the Sion has the potential to change into the world’s first Solar Electric Vehicle (SEV) for the plenty.
To scale back the ready interval till the Sion will probably be delivered and to already guarantee a extra sustainable mobility, FINN is providing all prospects who pre-ordered the Sion a singular low cost of 500 Euro for a automobile subscription on their platform. More data may be discovered right here: sonomotors.com/wait-and-drive-with-finn.
ABOUT SONO MOTORS
Sono Motors is on a pioneering mission to speed up the revolution of mobility by making each automobile photo voltaic. Sono Motors’ disruptive photo voltaic know-how has been engineered to be seamlessly built-in into quite a lot of automobile architectures — together with buses, vans, trailers, and extra — to lengthen vary and scale back gasoline prices in addition to the affect of CO2 emissions, paving the best way for climate-friendly mobility.
The Company’s trailblazing automobile, the Sion, has the potential to change into the world’s first inexpensive photo voltaic electrical automobile (SEV) for the plenty. Empowered by a robust international group, Sono Motors has over 20,000 reservations with advance down-payments for the Sion as of 1 September 2022.
ABOUT FINN
FINN is a automobile subscription platform united by its objective to make mobility enjoyable and sustainable by offering a versatile, enjoyable, and sustainable approach to select the automobile that most closely fits its prospects’ existence. The established automobile subscription supplier affords full transparency in pricing, in addition to complete insurance, upkeep and 24/7 buyer and roadside assist. What is extra, the corporate facilitates the transition to drive electrical autos and compensates the CO2 for each mile pushed for all its vehicles. FINN makes driving a automobile as simple as buying footwear on-line: with only a few clicks, prospects can subscribe to a automobile that will probably be delivered straight to their door in only a few days or perhaps weeks.
PRESS CONTACT
Christian Scheckenbach | Mobile: +49(0)17618050132
E-Mail: [email protected] | Website: www.sonomotors.com/press
FORWARD-LOOKING STATEMENTS
This press launch consists of forward-looking statements. The phrases “expect”, “anticipate”, “intend”, “plan”, “estimate”, “aim”, “forecast”, “project”, “target”, “will” and comparable expressions (or their damaging) determine sure of those forward-looking statements. These forward-looking statements are statements relating to the Company’s intentions, beliefs, or present expectations. Forward-looking statements contain inherent recognized and unknown dangers, uncertainties, and contingencies as a result of they relate to occasions and rely on circumstances that will or might not happen sooner or later and will trigger the precise outcomes, efficiency, or achievements of the Company to be materially completely different from these expressed or implied by such ahead wanting statements. These dangers, uncertainties and assumptions embrace, however usually are not restricted to (i) the affect of the worldwide COVID-19 pandemic on the worldwide economy, our trade and markets in addition to our business, (ii) dangers associated to our restricted working historical past, the rollout of our business and the timing of anticipated business milestones together with our skill to full the engineering of our autos and begin of manufacturing on time and finances and dangers associated to future outcomes of operation, (iii) dangers associated to our unproven skill to develop and produce autos and with anticipated or marketed specs together with vary, and dangers relating to required funding, (iv) dangers associated to our skill to monetize our photo voltaic know-how, (v) dangers relating to the uncertainty of the projected monetary data with respect to our business together with the conversion of reservations into binding orders, (vi) results of competitors and the tempo and depth of electrical automobile adoption usually and our autos specifically on our future business and (vii) adjustments in regulatory necessities, governmental incentives and gasoline and vitality costs. For extra data regarding a few of the dangers, uncertainties and assumptions that might have an effect on our forward-looking statements, please refer to the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), that are accessible on the SEC’s web site at www.sec.gov and on our web site at ir.sonomotors.com. Many of those dangers and uncertainties relate to elements which might be past the Company’s skill to management or estimate exactly, such because the actions of regulators and different elements. Readers ought to due to this fact not place undue reliance on these statements, significantly not in reference to any contract or funding choice. Except as required by regulation, the corporate assumes no obligation to replace any such forward-looking statements.
Photos accompanying this announcement can be found at
https://www.globenewswire.com/NewsRoom/AttachmentNg/8d9e1de4-9823-4813-8f12-f49169af0e2c
https://www.globenewswire.com/NewsRoom/AttachmentNg/51f4dd2f-aabd-4d93-8912-b9cf96777296
