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Sono Motors (NASDAQ: SEV) has decided to pivot its business model, focusing exclusively on solar technology for B2B customers by terminating the Sion passenger car program. This strategic shift aims to streamline operations and reduce costs, as the Sion program represented 90% of funding needs for 2023. The company has already secured 23 customers for its solar technology and received €1.46 million in funding from the EU. Additionally, Sono Motors plans to implement a significant cost reduction, including the redundancy of approximately 300 employees, while developing new products such as the Solar Bus Kit.

On February 7, 2023, Sono Motors (NASDAQ: SEV) announced successful initial crash test results for its solar electric vehicle, the Sion. The test revealed the vehicle's solar panels did not splinter during a 50 km/h frontal crash, indicating high safety standards and robust solar integration. All Sion vehicles will include advanced driver-assistance systems (ADAS) features at no extra cost, with a projected base price of approximately €25,000. Sono Motors aims to implement over-the-air updates, including adaptive cruise control. The company is conducting extensive tests to ensure compliance with safety regulations.

Sono Group N.V. (NASDAQ: SEV) has successfully raised over €47 million since early December 2022 through its #savesion campaign, backed by more than 8,600 community members. This extension targets a goal of €105 million to support the development of the Sion, an affordable solar electric vehicle. The campaign has resulted in approximately 22,500 total reservations, with over 1,500 new deposits added during this effort. Additionally, Sono has secured €1.46 million from the European Climate, Infrastructure, and Environment Executive Agency to advance its solar technology. The company aims to begin pre-series production of the Sion in summer 2023, contingent upon reaching the funding goal.

Sono Group N.V. (NASDAQ: SEV) has secured €1.46 million in funding from the European Climate, Infrastructure and Environment Executive Agency (CINEA) for its SEAMLESS-PV project, aimed at developing cost-efficient automated photovoltaic (PV) manufacturing. The company has already received €532,441 of this funding and continues its #savesion campaign, which has garnered approximately €45 million in commitments. Sono Motors has now filed or been granted 50 patents, with 42 focused on its proprietary solar technology, establishing its leadership in solar innovation.

Sono Motors (NASDAQ: SEV) is advancing its solar electric vehicle, the Sion, with significant testing and production milestones. The company confirmed its solar charging capability, achieving 28 km of solar range per week during winter tests, and expects an annual yield of 5,800 km. Durability testing is ongoing in Spain, simulating 150,000 km of usage. The Sion successfully surpassed WLTP range targets of 305 km and is on track for pre-series production in summer 2023. Additionally, the vehicle-to-vehicle charging technology was tested, confirming a bidirectional output of 8 kW AC. Production trials using series tooling have begun, marking progress toward commercialization.

On January 10, 2023, Sono Group N.V. (NASDAQ: SEV) announced it received approximately €40 million in payment commitments as part of its special marketing campaign launched on December 8, 2022. This initiative aims to fund its investment program leading up to the pre-series production of its solar electric vehicle, the Sion, expected in early 2024. The campaign has generated around 1,200 new B2C reservations in December 2022, marking a record month-over-month increase since the company's IPO. Sono's mission focuses on making all vehicles solar-powered.

Sono Motors reported a significant surge in revenues for Q3 2022, hitting €138k, six times higher than Q2. The company has achieved 21,000 B2C reservations and 22,000 B2B pre-orders, indicating potential sales of around €1 billion. Additionally, Sono Motors announced a partnership with Bosch to train 50 service centers for Sion maintenance and showcased its technology at IAA Transportation. Despite a net loss of €43.5 million, Sono Motors launched a fundraising campaign to support production and plans to produce Sion vehicles in 2023 amidst challenging market conditions.

Sono Motors and Bosch have entered into a collaboration to create a service network for the Sion, Sono's solar electric vehicle. Initially, 50 Bosch Car Services in Germany will be trained and authorized to provide maintenance and repairs. The network aims to expand across Europe, enhancing service accessibility for Sion owners. Additionally, Sono Motors plans to supply 22,000 independent car repair shops in Germany with a simplified service manual. This partnership highlights Sono's commitment to customer service and the promotion of solar electric mobility.

Sono Motors has partnered with Scania and LLT to implement solar technology in public transport buses in Luleå, Sweden. Six Scania Citywide K320 diesel buses have been retrofitted with Sono's Solar Bus Kit, which features a 1 kW peak installation. This initiative aims to optimize solar efficiency for northern climates, potentially saving approximately 2.9 tonnes of CO2 and up to 1,100 liters of diesel per bus annually. The project supports LLT's goal of reducing its carbon footprint, with plans to transition half of its fleet to electric by 2030.