Sono Motors Extends the Community Campaign Until 28 February 2023

• More Than €47 Million Committed From Over 8,600 Community Members And Additional Sources Since Early December
• More Than 5,000 Visitors Have Visited Sono Motors on the Company’s Europe-Wide Tour; 12 Additional Sion Tour Stops Added in Response to Demand

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.

The ongoing campaign underscores the uniqueness of Sono Motors as a true community brand. Before the start of the campaign, Sono Motors had already received in total approximately 21,000 private reservations with advance payments. During the campaign, Sono Motors received over 1,500 new private reservations with deposit commitments. The campaign began on 8 December 2022 and will now be extended by approximately one month to 28 February 2023. In response to demand, Sono Motors also announced 12 additional stops for the Sion tour, which already enabled approximately 5,000 people in 13 different European cities to get a first-hand experience of the Sion – Sono Motors’ affordable solar electric vehicle. The goal of the campaign is to raise approximately €105 million. If the goal is not achieved, Sono Motors currently intends to halt the development of the Sion and will instead focus on its solar technology business, which is significantly less capital intensive.

In addition, Sono Motors recently 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, further evidencing the Company’s in-depth technological expertise and knowledge.

While the campaign has progressed, the Company has been also making significant progress on its testing and series-validation program for the Sion, remaining on track technologically to start pre-series production in the summer of 2023.

NOTES

The above mentioned CINEA funds will be strictly used only for SEAMLESS-PV project activities as agreed with the project partners and the European Commission and won't be used in any other activities.

Reservations can only be made by persons located in 27 European jurisdictions. We do not accept reservations from persons located in any other country. We also do not accept reservations from U.S. persons. This document is for information purposes only.