Sono Motors launches Hail Mary purchase campaign to keep Sion solar EV alive
Hours after posting its Q3 2022 results, Sono Motors CEOs and cofounders Jona Christians and Laurin Hahn offered a public statement outlining the financial struggles of its Sion solar EV program, which now teeters on the edge of being scrapped so the company can focus on its revenue-generating B2B solar technology business. Before it gives up however, the Sono team has launched a 50 day campaign called #saveSion which implores its community of reservation holders to commit to a solar EV purchase to help kick off a 12-month journey to get the Sion into production.
Today’s news is particularly disheartening since we have covered Sono Motors for several years now, as it has progressed from garage prototypes to a series validation Sion solar EV which debuted this past summer, complete with its most sleek solar panel technology yet.
To date, Sono has approximately 21,000 direct-to-consumer orders for the Sion, in addition to about 22,000 B2B orders. In six short years, the solar EV company has not only built a production-intent mass-market solar EV but also a community of fans and potential customers across Europe.
Although the company’s B2B solar technology business continues to flourish, the Sion program has stumbled recently, to the point that Sono may have to abandon it altogether in order to survive. But the fight is not over. Sono’s robust reservation book shows there’s a clear appetite for its solar EV, and its cofounders are humbly leaning on that community to help bring the Sion to fruition.
Purchase commitments that include robust down payments from potential customers over the next 50 days could at the very least, give Sono enough time to acquire additional funding to deliver the Sion by 2024.
Today, Sono has launched the #saveSion campaign.
Sono Motors leaves Sion’s fate in hands of its community
Following today’s Q3 financials showing great progress with its B2B solar business, the Sono Motors cofounders released a public statement sharing the recent struggles of the Sion program, relaying a situation in which equity financing has become increasingly challenging:
Sono Motors has achieved important operational and commercial milestones throughout the year. These include signing promising partnerships in our solar business and presenting our first Sion series-validation vehicles. At the same time, financial markets have experienced a negative downturn, with many tech companies losing up to 90+% of their respective market cap, and shares in mobility tech companies have been hit particularly hard. As a result, financing our Sion program through equity has become increasingly challenging and dilutive. Raising money takes much longer than expected, since we failed to explain to investors why the Sion has the potential to become the world’s first affordable solar-electric vehicle and that there is a huge demand for it.
Rather than simply abandon its solar-powered child immediately, Sono is launching one last ditch effort to (partially) solve its current financial dilemma in the form of a campaign it hopes will go viral and bring enough of its reservations to fruition to keep Sion development going.
The start-up explained that its roughly 21K private reservations equate to about 465 million euros, in addition to another 600 million euros in potential revenue from business commitments. Of those approximately 43,000 reservations in its backlog, Sono looks to receive payment on just 3,500 of them over the next 50 days to #saveSion.
In 2019, the start-up launched a crowdfunding campaign that raised over 50 million euros in 50 days, but this latest plea for financial support from its community of solar believers comes at a much different time. Sono Motors is now significantly larger, the Sion is further along, and Sono has a separate solar business pillar it can prioritize. All that said, 3,500 sales of a 25,000 Solar EV remains the target, but will only get Sono so far. Per the release:
Developing a car usually costs up to 1 billion euro. We’ve come close to pre-series with spending less than half of that money. #saveSion is our non-dilutive solution for funding the majority of the Sion program and the first part of a broader funding strategy for the next 12 months, which includes of course the capital markets. We believe we will be able to continue to acquire more funding and continue to pay the remaining machinery, tooling, and production setup to achieve the planned pre-series production in 2023 and make it to SOP in the first quarter of 2024.
Sono is offering those reservation holders who commit to a Sion purchase a discount of up 3,000 euros – the more you put down as a down payment, the more you save on the final price. Those committed customers will only be held to payment if and when the 50-day campaign proves successful.
Should the community funding raise fail, Sono Motors says it will turn its attention entirely to its B2B solar business. The company states its current and expected liquidity should allow for a pivot to solar tech only, so the start-up itself is not in dire straits. However, the fate of the Sion is certainly in peril.
Reservations can currently be made in 27 different European regions, but unfortunately, US consumers cannot join the movement. You can learn more at the #saveSion dedicated page.
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Several well-known players in the US electric bicycle market have recently joined forces in creative ways. Electric Bike Company, known for its local manufacturing in Southern California, has just announced a major merger with Integral Electrics, an e-bike brand uniquely designing electric bicycles for women and other short statured riders.
Both Electric Bike Company and Integral Electrics have carved out interesting niches in the industry. EBC has become famous for its extremely customizable electric bicycles. Riders can choose everything from the specific paint color to the combination of components and even the material choices – locally manufactured wooden fenders, anyone?
With multiple assembly locations across Newport Beach in Southern California, the local production has allowed EBC to respond quickly to one-of-a-kind builds that are designed by customers on its website or in any of hundreds of dealer locations around the US. The extreme customization has lent itself well to a market where customers often want to create unique bikes that show off personality and character.
Integral Electrics has also found itself an underrepresented market, but this time with a focus on female riders. The brand focuses on making cycling more accessible, regardless of a rider’s gender, height, or cycling experience. The company’s e-bikes are built to fit a wider range of riders, carry multiple children, and make cycling easier for everyone.
The company’s founder and CEO Laura Belmar started Integral Electrics back in 2023 along with co-founder Paul Freedom, relying on her own experience struggling to find a cargo e-bike that she could comfortably ride with her children. A serial entrepreneur with successful ventures already under her belt, Belmar followed her instincts and tapped into that underserved market.
Now Integral Electrics and Electric Bike Company are merging under a single brand, with Integral Electric’s designs joining the EBC family. EBC has several famous models available, but the brand has long skewed more in the direction of cruisers and comfort bikes. The addition of Integral Electric’s cargo bikes and trikes will help further round out the diversity of models offered.
“Integral’s emphasis on female riders and on cargo e-bikes is a welcome addition to the EBC family,” said EBC founder and CEO Sean Lupton-Smith. “We want to stay on the cutting edge of where the e-bike market is headed, and Integral’s innovative approach helps push us forward.”
And with EBC’s local manufacturing, those bikes will be made closer to home than ever. “Building in the USA also has distinct safety advantages,” explained Belmar. “From my first visit to Electric Bike Company’s California factory, I have been indelibly impressed by the emphasis on quality and safety. Shipping bikes fully built and inspected is so much safer for customers. Electric Bike Company has already achieved one of our long-held aspirations. I’m honored to be part of this team.”
In a climate of tariff uncertainty, the ability to build and assemble bikes locally is becoming even more advantageous. “As tariffs, regulation and competition put pressure on the e-bike industry, Sean’s focus on customization and safety at Electric Bike Company was prescient,” added Freeman. “As we look around the industry, it’s clear that he has built a business that is well-positioned to meet this moment.”
As part of the merger, Belmar will assume the role of President and Chief Commercial Officer at EBC, and Integral Electrics’ Advisor Michael Edwards will join the EBC board.
The news of the merger follows quickly behind another major EBC partnership that saw Pedego ink a licensing deal with the brand to leverage EBC’s customization strengths to produce unique customer-designed Pedego e-bikes.
In addition to rolling out EBC’s Design Wall at many of Pedego’s stores, allowing customers to visually construct any e-bike combination right there in real-time on a large touchscreen, the partnership adds Pedego’s 150+ stores to EBC’s 250+ dealer network, giving customers access to one of the most extensive e-bike sales and service networks in the country.
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Environment
Honda’s $99 Prologue EV lease offer is too good to be true, but it’s still a crazy deal right now
A nearly $50,000 electric SUV for just $99 a month? If that sounds too good to be true, it’s because it kind of is. One Honda dealer is promoting a Prologue lease offer for just $99 for 24 months, but you may have a hard time getting your hands on one.
Honda Prologue EV listed for lease at just $99 per month
Honda’s electric SUV is already one of the most popular EVs in the US. In December, it was the third top-selling electric vehicle trailing only the Tesla Model Y and Model 3.
Since the first models hit the streets last March, the Prologue climbed to become the seventh best-selling EV in 2024, beating out Chevy’s new Equinox EV and even the Rivian R1S.
Although Honda, like most, is offering generous discounts to clear inventory, one dealer is taking it to the extreme.
Buena Park Honda in California is promoting a Honda Prologue lease deal for just $99 for 24 months (plus taxes) with a $3,977 down payment. The crazy low offer is for the 2024 Prologue EX FWD with 10,000 miles a year, but there’s a catch.
For one, there’s only one model listed in its inventory, and it’s the Elite trim, listed at $51,850 (MSRP of $59,350 minus the $7,500 federal EV tax credit). You will also need a trade-in vehicle, including a 2014 or newer Honda or competitor brand.
A salesperson from the dealership told online auto research firm CarsDirect that the EX models are out of stock because they are “really hard to get your hands on.”
Also, if you factor in the down payment and $595 acquisition fee, the effective cost is $295 per month. That’s only slightly better than the official $239 for a 24-month lease offer Honda is promoting. With just $1,499 due at signing, the effective rate is $301 per month, or just $6 more.
| 2024 Honda Prologue trim | Starting Price (w/o $1,395 destination fee) |
Starting price after tax credit (w/o $1,395 destination fee) |
Starting price after tax credit (with $1,395 destination fee) |
EPA Range (miles) |
| EX (FWD) | $47,400 | $39,900 | $41,295 | 296 |
| EX (AWD) | $50,400 | $42,900 | $44,295 | 281 |
| Touring (FWD) | $51.700 | $44,200 | $45,595 | 296 |
| Touring (AWD) | $54,700 | $47,200 | $48,595 | 281 |
| Elite (AWD) | $57,900 | $50,400 | $51,795 | 273 |
Although this is offered in California and other CARB emissions states, the Prologue is on sale in different regions for just $209 for 24 months. With $2,699 due at signing, the effective rate is still just $321 per month.
Honda says the Prologue “delivers the same level of quality, reliability, and performance” you expect from the brand.
Based on GM’s Ultium platform, the electric SUV has an EPA-estimated range of up to 296 miles. Although it shares GM’s tech, Honda fine-tuned the Prologue with an added multi-link front and rear suspension to give it a more “sporty” drive.
The Prologue has more interior space, with 111.7 cu ft of passenger volume, than the Honda CR-V (106 cu ft). It also features an 11.3″ touch-screen infotainment system with built-in Google, Apple CarPlay, and Android Auto support, something GM has moved away from.
Ready to find deals in your area? Although it may not be $99, these offers are hard to pass up for a nearly $50,000 electric SUV. Check out our link to find deals on the Honda Prologue near you today.
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