Sono Motors, New Fundraising Campaign to Save Zion December 09, 2022 2

These are motors started one new fundraising campaign which, if successful, will save the Zion project, that is, their car, which is recharged thanks to the energy of the Sun, which we have already talked about several times in the past. Otherwise, the car may never hit the road. However, this would not mean the end of the company, as Sono Motors focused on its solar technologies to offer them to other companies.

Production of the Sion, entrusted to Valmet Automotive in Finland, was due to start in the second half of 2023. But now the program has stalled for financial reasons. The company explains that this situation is mainly related to the global economic situation.

Financial markets have weathered the downturn, with many tech companies losing over 90% of their market capitalization, and mobile tech stocks have been particularly hard hit. As a result, equity funding for our Zion program is becoming increasingly difficult. Fundraising is taking much longer than expected as we were unable to explain to investors why the Sion could be the world’s first affordable solar-powered electric vehicle and that there is huge demand for it.

Therefore, the two founders of Sono Motors issued a call to save their project, promoting the Save Zion fundraising campaign. So before giving up, the company once again reaches out to its community to try and get the necessary liquidity to put the car into production.

So the goal is to get to get an additional 3500 bookings electric car for 50 days. Anyone who joins this promotion will receive a discount of up to 3,000 euros (depending on the down payment, it is potentially possible to pay for the entire car at once). Payment will only be made if the fundraising campaign is successful. In addition, campaign supporters will receive a permanent spot on the car’s waiting list.

The company says it has so far collected more than 21,000 private bookings, which equates to approximately €465 million in potential revenue, to which must be added 22,000 B2B pre-bookings for a potential value of nearly €600 million.

If it fails to save Sion, as mentioned at the beginning, Sono Motors will focus on developing its solar technology to sell to other companies. A sector that is already producing interesting results, so much so that the company’s investors are pushing it to move in that direction.


Those who have followed the history of this company will remember that this is not the first time that Sono Motors has turned to its community for help to continue its project. In December 2019, the company launched a community funding campaign to keep moving forward. The community responded positively by funding the company’s operations with 50 million euros. Funding that allowed the company to move forward.

Let’s see if the Sono Motors community can save the Sion project this time. Currently, out of 3,500 new bookings requested, 79 have been received.

Author: Philip Vendrame



Source: HD Motori


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