Despite the IPO, electric car manufacturer Sono Motors still needs additional funds to develop next-generation prototypes of electric cars with Sion solar modules. According to a question and answer session held by the company, mass production requires more than 350 million euros. Starting from the IPO in mid-November, Sono Motors' revenue is equivalent to 137 million euros, and the remaining at least 200 million euros still need to be borne by the company.

Exactly how Sono Motors intends to raise the necessary funds has been confirmed in the unknown company's live broadcast. "As a listed company, we will now have greater flexibility to raise more funds on the stock market. There are other financing options, such as loans or convertible bonds," it said.

Sion was invented in a garage in Munich in 2012. This is a 4.5-meter compact car that can accommodate 5 people and 650 liters of luggage, and it is deliberately kept simple. About 250 solar cells should be able to extend the range of 300 kilometers by 110 kilometers.

In addition, the question time stated that Sion can “under ideal conditions, using only solar energy can generate an average of 112 kilometers per week (up to 245 kilometers on a sunny day) of extra cruising range”. Sion's drivers can handle average commute get off work almost independently, and the charging frequency is four times that of traditional electric vehicles.

Sion will be built by NEVS in Trollhättan, Sweden, starting in the first half of 2023, but there has been uncertainty recently. The contract manufacturer has stated that it has not yet reached any production agreement with Sono Motors and that the company must first go public and raise funds.

Sono Motors stated that the contract with NEVS involves the development of production. At present, Sion's production is not affected by the reorganization of new energy vehicles. Preparations for production facilities for trial production next year and Sion series production in the first half of 2023 are proceeding as planned.

When asked if Sono Motors would go bankrupt without an IPO, the answer was: "When you look at it from the rearview mirror, what we have been working on has already happened: the successful stock market debut." This happened in The United States, because, for example, Germany's Sono must create a prospectus in accordance with BaFin's regulations, but this is impossible.