Electric vehicles startup Sono abandons plans for solar-powered car



German incipiency Sono Motors has abandoned plans to produce a incompletely solar- powered auto called the Sion and will rather concentrate on erecting solar panels for third- party vehicles,

 The company said in a statement. innovated in 2016, Sono began trading on the NASDAQ in November last time in a shot to attract early- stage investors after chancing itself on the point of bankruptcy.

 The incipiency was due to begin product in Finland with supplier Valmet Automotive this time. Sono launched a crusade in early December to raise 100 million euros($ 106 million) by offering implicit buyers a,000- euro reduction on apre-ordered vehicle, travelling across 13 European metropolises to rally interest in the model. 

The company said at the time that it would concentrate on its lower capital- ferocious solar business if the crusade, which was due to run until February 28, was unprofitable.

We were impelled to reply to the ongoing fiscal request insecurity and streamline our business,"co-founder and CEO Laurin Hahn said in the statement on Friday. Chief Operating Officer Thomas Hausch will step down and 300 workers will be laid off, the statement said. 

Sono is among a sprinkle of startups that have tried to make a incompletely solar- powered vehicle, but none have reached series product so far amid struggles to raise enough finances from investors.

 The company will continue to use its patented technology for integrating solar cells into third- party vehicles, for which it presently has 23 guests including Volkswagen's MAN and Scania truck businesses and Mitsubishi, it said.

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