Car reservation

FINN intends to buy 12,600 Sions from Sono Motors

  • FINN and Sono Motors have signed a letter of intent regarding 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 of “Sono Group NV”, NASDAQ:SEV), the Munich-based solar mobility equipment manufacturer, has signed a letter of intent with FINN, a car-based 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 advance the company’s environmental goals. Sono Motors and FINN seek to reach a final agreement regarding their cooperation in 2023.

The aim of the cooperation is to supply cars to FINN in order to increase the sustainability of their fleet. Sion production is scheduled to start in the second half of 2023, and Sono Motors expects to deliver 100 Sion for FINN’s fleet in 2024. An additional 2,500 vehicles are expected to be delivered thereafter per year, until the total of 12,600 is reached. FINN plans to use these Sion for their service in Germany.

FINN is a flexible automobile subscription platform based in Munich, operating in the United States and Germany. With already 30% of the entire fleet being electric cars, the company is looking to further diversify its range and make mobility more climate-friendly.

Additionally, Sono Motors has had over 20,000 direct-to-consumer (B2C) bookings as of September 1, 2022, with an average down payment of approximately €2,000 net. At an expected net selling price of just €25,126, the Sion has the potential to become the world’s first solar electric vehicle (SEV) for the masses.

In order to reduce the waiting time until delivery of the Sion and already ensure more sustainable mobility, FINN is offering all customers who have pre-ordered the Sion a one-time discount of 500 euros for a car subscription on their platform. More information can be found here: sonomotors.com/wait-and-drive-with-finn.

ABOUT MOTOR SONO
Sono Motors is on a pioneering mission to accelerate the mobility revolution by making every vehicle solar. Sono Motors’ disruptive solar technology has been designed to be seamlessly integrated into a variety of vehicle architectures – including buses, trucks, trailers, and more. – to extend range and reduce fuel costs as well as the impact of CO2 emissions, paving the way for climate-friendly mobility.

The company’s pioneering vehicle, the Sion, has the potential to become the world’s first affordable solar electric vehicle (SEV) for the masses. With a strong global community, Sono Motors has over 20,000 advanced deposit bookings for Sion as of September 1, 2022.

ABOUT FINN
FINN is a car subscription platform united by its goal of making mobility fun and sustainable by providing a flexible, fun and sustainable way to choose the car that best suits the lifestyle of its customers. The established car subscription provider offers full price transparency, as well as comprehensive insurance, maintenance, and 24/7 customer and roadside assistance. In addition, the company facilitates the transition to driving electric vehicles and offsets CO2 for each kilometer driven for all its cars. FINN makes driving a car as easy as buying shoes online: with just a few clicks, customers can subscribe to a car that will be delivered directly to their doorstep within days or weeks.

PRESS CONTACT
Christian Schechenbach | Mobile: +49(0)17618050132
E-mail: [email protected] | Website: www.sonomotors.com/press

FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. The words ‘expect’, ‘anticipate’, ‘intend’, ‘plan’, ‘estimate’, ‘aim’, ‘anticipate’, ‘project’, ‘target’, ‘will’ and similar expressions (or the negative thereof) identify some of these forward-looking statements. These forward-looking statements are statements about the Company’s current intentions, beliefs or expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause results, performance or achievements to be materially impaired. real of the Company. different from those expressed or implied by such forward-looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) the impact of the global COVID-19 pandemic on the global economy, our industry and markets and our business, (ii) risks related our limited operating history, the deployment of our business and the timing of expected commercial milestones, including our ability to complete our vehicle engineering and start of production on time and on budget and the risks associated with future operating results, (iii) risks relating to our unproven ability to develop and produce vehicles and with expected or announced specifications, including range and risks relating to required financing, (iv) risks relating to our ability to monetize our solar technology, (v) risks related to the uncertainty of projected financial information regarding our business, including the conversion of reservations to binding orders s, (vi) the effects of competition and the pace and depth of adoption of electric vehicles generally and our key vehicles in particular on our future business and (vii) changes in regulatory requirements, government incentives and fuel and energy prices. For more information regarding some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to the Company’s filings with the United States Securities and Exchange Commission (“SEC”), which are accessible at the SEC website at www. sec.gov and on our website at ir.sonomotors.com. Many of these risks and uncertainties relate to factors beyond the Company’s ability to control or accurately estimate, such as the actions of regulatory authorities and other factors. Readers should therefore not place undue reliance on such statements, particularly in connection with any contract or investment decision. Except as required by law, the company undertakes no obligation to update these forward-looking statements.

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