Shulou(Shulou.com)11/24 Report--

CTOnews.com, February 26 (Xinhua)-- German solar technology startup Sono Motors has officially abandoned its plan to produce a solar car called Sion and laid off most of its staff after failing to raise enough money.

The German start-up said on Friday that it would lay off about 300 employees, or about 73% of the total, and shift its focus to selling technology to other companies. The Sion is a boxy hatchback covered with solar cells that can be recharged while driving and is scheduled to go into production this year.

CTOnews.com learned from an official announcement that it would convert its business model to "specifically retrofit and integrate its solar technology on third-party vehicles". Sono said the Sion project was terminated because it focused on a light-asset business model in view of the downturn in the capital markets.

Since Sion already has 45000 paid bookings, the company has announced a repayment plan that will be repaid in various ways over the next two years, including bonuses.

Sono Automotive says the success of Sion's 18-vehicle series verification program proves the feasibility of the solar electric vehicle (SEV) concept. Therefore, it intends to sell the project. Whether this will happen remains to be seen.

Sono is currently working as a development partner and supplier with 23 companies in 10 countries in Europe, Asia and the United States. Customers include Mitsubishi Europe, Chereau, Scania and MAN Truck & Bus.

Sono will now expand its technology, starting with the launch of its solar bus kit, its next generation clean public transport retrofit solution for the mass market, which is scheduled for launch in the second quarter of 2023. The company's solar solutions also include hardware such as power electronics and software.

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