Sono Group NV

Sono Group NV engages in the manufacture of solar electric vehicles. It focuses on the development of Sion and net-zero-emission vehicle solution for the mass market. It aims to license and sell its proprietary solar technology to a wide array of customers such as manufacturers of buses, trucks, camper vans, trains, and even boats. The company was founded by Laurin Hahn, Navina Persteiner and Jona Christians in 2012 and is headquartered in Munich, Germany.

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Sono Group NV engages in the provision of solar-powered mobility applications. It operates through the Finland and Germany geographical segments. The company was founded by Laurin Hahn, Navina Persteiner and Jona Christians in 2012 and is headquartered in Munich, Germany.

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Electric vehicle (EV) maker Sono Group (NASDAQ: SEV ) stock briefly had zero available shares to short today. According to Fintel, Sono's available short shares at a “leading prime brokerage” depleted this morning.

SEV Stock: There Are No Sono Motor Shares Available to Short

MUNICH, Germany, May 15, 2023 (GLOBE NEWSWIRE) -- On May 15, 2023, Sono Group N.V. applied to the insolvency court of Munich, Germany, to permit the opening of a self-administration proceeding (Eigenverwaltung) with respect to Sono Group N.V. pursuant to Section 270 (b) of the German Insolvency Code (Insolvenzordnung). On the same day, Sono Motors GmbH, Sono Group N.V.'s sole wholly-owned subsidiary, applied to the same court to permit the opening of self-administration proceeding in the form of a protective shield proceeding (Schutzschirmverfahren) with respect to Sono Motors GmbH pursuant Section 270 (d) of the German Insolvency Code. Sono Group N.V. conducts its business through its subsidiary Sono Motors GmbH, and the terms “we” and “our” used herein refer to Sono Group N.V. together with its subsidiary Sono Motors GmbH.

Applications for self-administration proceedings with respect to Sono Group N.V. and Sono Motors GmbH under the German Insolvency Act

MUNICH, Germany, May 08, 2023 (GLOBE NEWSWIRE) -- The solar tech company Sono Group N.V. (NASDAQ: SEV) (“Sono Motors” or the “Company”) announces that it received a notice (the “Notice”) on May 3, 2023 from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that because the Company has not yet filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2022 (the “2022 20-F”), the Company is no longer in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Rule”). The Rule requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the “SEC”).

Sono Group Receives Nasdaq Notification of Non-Compliance with Listing Rule 5250(c)(1)

MUNICH, Germany, April 21, 2023 (GLOBE NEWSWIRE) -- On 24 February 2023, Sono Group N.V. (NASDAQ: SEV) (“Sono Motors” or the “Company”) announced its commitment to change its business model to focus exclusively on its solar business for B2B customers and to terminate the Sion passenger car program. This has led to a shift in the Company's business model and operations away from its supervisory board members' strong expertise in the areas of automotive, digitalization, and Community-focus. Against this background four members of the Company's supervisory board, Chair Martina Buchhauser, Vice-Chair Robert Jeffe, Arnd Schwierholz, and Community Representative Sebastian Böttger, today, 21 April 2023, announced their resignation with immediate effect.

Following Pivot to a Pure Solar Tech Company, Members of Sono Group N.V.'s Supervisory Board Resign

MUNICH, Germany, March 24, 2023 (GLOBE NEWSWIRE) -- The solar tech company Sono Group N.V. (NASDAQ: SEV) (“Sono Motors” or the “Company”) announces that on 20 March 2023, it received a letter from the Listings Qualifications Department of The Nasdaq Stock Market LLC (the “Nasdaq”) notifying the Company that the minimum closing bid price per share of its common shares was below $1.00 for a period of 30 consecutive business days and that the Company did not meet the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1). This current report is filed pursuant to Nasdaq Listing Rule 5810(b). The Nasdaq notification letter does not affect the Company's business operations and, for now, it does not result in the delisting of the Company's common shares. The shares will continue to trade uninterrupted under the symbol “SEV”.

Sono Group Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency

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MUNICH, Germany, March 08, 2023 (GLOBE NEWSWIRE) -- The solar tech company Sono Group N.V. (NASDAQ: SEV) (“Sono Motors” or the “Company”) today announced it has signed a purchase order with a second passenger car manufacturer, one of the 10 largest in the world. The scope of the order is delivery of solar body panels for one vehicle, so that, together with Sono Motors, the OEM is able to explore solar integration into their cars. The Company announced the first order from a passenger car manufacturer in December last year. This brings the Company's total number of customers and partners for its solar technology to 25, a significant increase from 10 partners at the time of the Company's IPO 15 months ago.

Sono Motors Announces It Has Signed With a Second Passenger Car Manufacturer

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Sono Motors (NASDAQ: SEV ) stock is falling hard on Friday after the company revealed plans to terminate its solar electric vehicle (EV) program. According to a news release from the company, it's completely abandoning its Sion program to develop a solar-powered EV.

Sono Motors (SEV) Stock Plunges After Terminating Solar EV Program

MUNICH, Germany, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The solar mobility solutions provider Sono Group N.V. (NASDAQ: SEV) (“Sono Motors” or the “Company”) today announced that it decided to pivot its business model to exclusively retrofitting and integrating its solar technology onto third party vehicles, and to terminate its Sion passenger car program (‘Sion program'), effective today. The Company's solar solutions, including hardware such as power electronics and software, are already in application today, with 23 B2B customers across Europe, Asia, and the United States piloting Sono Motors' integrated solar technology on a variety of vehicles, including third-party OEM cars, buses, refrigerated vehicles, and recreational vehicles. Fleet operators can benefit from integrating Sono Motors' technology to save fuel, costs, and CO2, thereby contributing to the fight against climate change through a reduction in greenhouse gas emissions. Termination of the Sion program reflects a decision to focus on a capital-light business model – an estimated 90% of the funding needs for 2023 were generated by the Sion program – in light of depressed capital market conditions. Given the resource-intensive nature of the Sion program, including personnel requirements, the Company is now implementing a significant cost reduction program.

Sono Motors Commits to Focus Exclusively On Solar Tech Company, and Has Terminated the Sion Program

MUNICH, Germany, Feb. 07, 2023 (GLOBE NEWSWIRE) -- The affordable solar electric vehicle (SEV) Sion from Munich-based solar mobility solutions provider Sono Group N.V. (NASDAQ: SEV) (“Sono Motors” or the “Company”) successfully performed its first complete vehicle crash test. The result of the 50 km/h frontal crash test met the Company's expectations regarding the Sion's crash safety and the robustness of Sono Motors' proprietary polymer-based vehicle-integrated solar technology, which covers the vehicle's entire body. The test was rolled out at its partner facility at CSI in Italy, a certified testing institution, with a Sion that was, including solar panels, painted green to ensure the vehicle is high contrast and therefore can enable more accurate evaluation.

Sono Motors Demonstrates Solar Integration in Initial Sion Crash Test

MUNICH, Germany, Jan. 26, 2023 (GLOBE NEWSWIRE) -- The Munich-based solar mobility solutions provider Sono Group N.V. (NASDAQ: SEV) (“Sono Motors” or the “Company”) today announced an extension of its special community campaign (“#savesion”). More than €47 million has been committed in the #savesion campaign from over 8,600 community members and other sources since early December.

Sono Motors Extends the Community Campaign Until 28 February 2023

MUNICH, Germany, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The Munich-based solar mobility solutions provider Sono Group N.V. (NASDAQ: SEV) (“Sono Motors” or the “Company”) secured €1.46 million in funding from the European Climate, Infrastructure and Environment Executive Agency (“CINEA”) to advance the development of the Company's proprietary solar technology.  The SEAMLESS-PV project was granted by the EU Commission and aims, over the course of four years, to develop automated photovoltaic (PV) manufacturing equipment, address the industrialization of novel manufacturing processes, and demonstrate the technology's cost-efficiency and compliance with market requirements and standardization frameworks in various sectors. Sono Motors will provide its knowledge and expertise in the field of vehicle integrated photovoltaics (ViPV) via application of this technology into three different vehicle architectures.

Sono Motors Secures Funding From EU Commission Granted Project for Solar Technology

MUNICH, Germany, Jan. 18, 2023 (GLOBE NEWSWIRE) -- The solar-mobility OEM Sono Group N.V. (NASDAQ: SEV) (“Sono Motors” or the “Company”) is making progress in the testing and series-validation program of its solar electric vehicle Sion, and remains on a fast track to pre-series production, which is planned in summer 2023.

Sono Motors Progresses Towards Pre-series With Solar EV

MUNICH, Germany, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The solar-mobility OEM Sono Group N.V. (NASDAQ: SEV) (“Sono Motors” or the “Company”) announces that in line with its previously communicated special marketing campaign, the Company has received payment commitments from its customer community worth approximately €40 million as of 10 January 2023.

Sono Motors Announces Progress on the Community Campaign

Sono Group N.V. (NASDAQ:SEV ) Q3 2022 Results Earnings Conference Call December 8, 2022 8:00 AM ET Company Participants Kirill Bagachenko - Director Investor Relations Laurin Hahn - Chief Executive Officer Thomas Hausch - Chief Operations Officer Torsten Kiedel - Chief Financial Officer Conference Call Participants Christopher Souther - B.

Sono Group N.V. (SEV) Q3 2022 Results - Earnings Call Transcript

MUNICH, Germany, Dec. 08, 2022 (GLOBE NEWSWIRE) -- The solar-mobility OEM Sono Group N.V. (NASDAQ: SEV) (hereafter referred to as “Sono Motors” or the “Company”) today announced its business and financial results for the third quarter of 2022.

Third Quarter 2022: Increase in Reservations and Multiple International Partnerships Signed

MUNICH, Germany, Nov. 21, 2022 (GLOBE NEWSWIRE) -- Solar Mobility OEM Sono Motors (NASDAQ: SEV) expands its cooperation with the technology company Continental by equipping the Sion series-validation vehicles, the Company's solar electric vehicle (SEV), with further proven technologies from the automotive supplier. Among other things, the companies will integrate an advanced driver assistance system (ADAS) from Continental in Sono Motors' series-validation vehicles for the first time, as part of the expanded cooperation.

Sono Motors Expands Cooperation With Continental for Development of Solar Electric Vehicle Sion

Sono Motors (NASDAQ: SEV ) stock is trending and advancing in early trading. On Thursday, the electric vehicle (EV) maker made a big announcement.

Why Is Sono Motors (SEV) Stock Heating Up 10% Today?

MUNICH, Germany, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Sono Motors (subsidiary to “Sono Group N.V.,” NASDAQ: SEV), the Munich-based solar mobility OEM, and the well-renowned German company Bosch have agreed to cooperate on a joint Europe-wide network of car repair shops. Within the framework of the Bosch Car Service workshop concept, all maintenance and repair services will be offered according to modern standards. Owners of the Sion, Sono Motor's solar electric vehicle, will be able to use all services offered by participating car repair shops, including repair, servicing, maintenance, and warranty services. In other words, thanks to the Bosch Car Service network integration, Sion owners will be able to more easily find a competent repair shop partner in Europe. The overall 50 qualified Bosch Car Services to be trained in the launch phase will be distributed throughout Germany in such a way that both major cities and rural areas will be covered. Additional qualified service centers will be added in the subsequent rollout to create a comprehensive service network available in many European countries.

Sono Motors and Bosch Automotive Aftermarket Confirm Long-term Europe-wide Partnership

MUNICH, Germany, Oct. 07, 2022 (GLOBE NEWSWIRE) -- The Munich-based solar mobility OEM Sono Motors (NASDAQ: SEV) gains new customers in Scania, a subsidiary of Volkswagen, and LLT, a Swedish public transport authority, in a unique project to test the Solar Bus Kit in real-life conditions in the northern hemisphere. The objective of the project is to optimize the efficiency of the solar technology for buses in northern climates. LLT is the first transport authority in Scandinavia to equip buses with a customized version of the Solar Bus Kit with 1 kW peak installation, and have equipped six Scania model Citywide K320 diesel buses. These solar-equipped buses are used for public transport in Luleå, Sweden and are intended to help reduce transport emissions. For each year of operation, the solar technology developed by Sono Motors has the potential to save approx. 2.9 tonnes of CO2 and up to 1,100 liters of diesel per bus. According to LLT and Scania, solar technology could be an option in the future to increase the range of electric buses.

Sono Motors Gains Scania and LLT as New Customers

MUNICH, Germany, Sept. 08, 2022 (GLOBE NEWSWIRE) -- The solar-mobility OEM Sono Group N.V. (NASDAQ: SEV) (hereafter referred to as “Sono Motors” or the “Company”) today announced its financial results for the second quarter of 2022.

Second Quarter 2022: Increasing Orders for ‘Sion' Solar-Electric Passenger Car and More B2B Solar-Retrofit Projects

MUNICH, Germany, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Sono Motors (subsidiary to “Sono Group N.V.”, NASDAQ: SEV), the Munich-based solar mobility OEM, signed a Letter of Intent with FINN, a Munich-based car subscription platform, aiming to solidify their cooperation. FINN was one of Sono Motors' first B2B reservation holders. Following its initial, non-binding reservation of 5,500 Sion in 2020, FINN now intends to reserve and purchase a total of 12,600 Sion, to create a sustainable fleet and drive forward the company's environmental goals. Sono Motors and FINN seek to reach a final agreement regarding their cooperation in 2023.

News for Sono Group NV Stock (SEV)