Sono Motors facing another wave of layoffs
According to current estimates, “it is not likely that a contract will be signed with a future investor within the next few days.” Furthermore: “Against this background and in the interest of protecting all creditors, Sono GmbH is in the process of terminating the contracts of its remaining employees to ensure that employee wages do not result in an additional liquidity burden in the event that talks with investors fail. The terminations are expected to become effective in January and February 2024.”
The listed Sono Group NV does state that “his preventative measure” the companies (i.e. Sono Group NV and its only subsidiary Sono GmbH) hope “to secure the preservation and continuation of the companies by successfully concluding investor talks in the next few weeks remains unchanged.” In other words, there is still a chance that the terminations announced for the beginning of the year will not take effect after all.
In May, the Sono Motors GmbH filed for protective shield proceedings. After a renewed crowdfunding campaign to save the Sion solar electric car, the Munich-based start-up pulled the ripcord and discontinued the programme at the end of February. Instead, the company wanted to focus on the solar business for B2B customers – for example, integrated solar panels for electric cars, buses or trucks.
Already with the protective shield proceedings in May, about 300 of the 400 employees had to leave the company (primarily employees who had worked on the discontinued Sion project), and later, the company cut another 48 jobs. So there are only about 50 employees left at Sono GmbH anyway. But the intended new start as a solar component developer and integration partner for OEMs seems to be failing.