#25 (EN): Chassis Video, up Committed Equity Facility, Festival of the Future
Have a nice Sunday! My vacation is over, and the battery is charged for the coming weeks. And hopefully, we'll all be sitting in the SVC3 for the test drives soon.
+++ HIGHLIGHT +++
The first "Series Validation Vehicles" (the new marketing term for the SVC3) are taking more and more concrete shapes. There are new pictures from the assembly hall almost daily. In a new video Kevin goes into detail about the chassis and the driving experience:
https://m.youtube.com/watch?v=wi0wP5eX3V8
His squad/team is responsible for making sure all the components of the chassis work well together. It is important to him that there is a good feeling when driving and that the Sion responds as well and safely as the driver or rider expects. This is crucial for customer satisfaction. It's nice to see how much heart and feeling goes into creating the Sion. All three engineers - Kevin, Arun, and Rohan - are clearly enjoying the Sion and the passion with which the new vehicle is being developed.
Unfortunately, we don't learn about the number of "Carry Over Parts" (COP). The brake shoes and parts of the steering column modified for the Sion are carry-over parts. Not the brake discs themselves. One of the first three Sions is going to the USA. It will be tested there and will also have to freeze - winter tests will take place there.
First parts could be seen on Twitter, but the video on YouTube shows much more. Also in the comments on Facebook, Youtube, and Twitter you can feel the enthusiasm of the reservation holders, the Sion is finally taking shape.
+++ FINANCING +++
Sono continues to close the financing gap for series production. After raising 38 million through the issuance of new shares a few weeks ago, Sono announced the next building block last week - a “Committed Equity Facility” of up to $150 million through the issuance of up to 17.5 million shares.
Quote: The agreement governs a Committed Equity Facility that provides Sono Motors with the right, without obligation, to sell and issue up to $150 million of its ordinary shares over a period of 24 months to Berenberg at the sole discretion of Sono Motors, subject to certain limitations and conditions.
Laurin is quoted saying, "This new source of funding provides us with the flexibility to raise additional equity funding when and if we choose to do so”.
What does it mean? Unlike the last capital increase, the money will not flow immediately this time, but in slices: whenever Sono sells shares to Berenberg, there will be cash. Disadvantage: the shares are diluted because more shares are created. And Berenberg pays less than the current share price.
The advantage for Sono: Sono can decide on its own whether, when, and how many shares to sell.
All details are in the official sources:
https://ir.sonomotors.com/static-files/c3237a6d-c03e-4e6a-a543-e63f682ab0f9
+++ PODCAST +++
The Mobility House (TMH) is a veteran in the field of e-mobility with a focus on "charging infrastructure". I still know the team from the early days. Two years ago the 10th-anniversary celebration took place in the former Kunstpark area in Munich, at that time over a hundred people attended. It's impressive that 250 people now work there. Congratulations to the founders Andreas and Thomas.
Sebastian Karrer has also been there for a long time, ever since Project I at BMW. in the interview with "Lademeile", he gives insights into the current market situation - starting at minute 42, Sono Motors is briefly mentioned and the TMH experts assessment: "Bidirectional must go via AC". Sono, all done right.
"#32 Charging Rush - We were the first ones here! With Sebastian Karrer of The Mobility House."
https://podcastaddict.com/episode/140971240
+++ REMINDER +++
The Sono COMMUNITY MEETING Northwest will take place on 06/25 at 4 pm in 49685 Emstek. Details in the previous posts. Looking forward to it, Asti is looking forward too! See you there!
+++ RHENUS +++
Sono equips a truck from logistics service provider Rhenus with sensors to gain irradiation data. The data will be shared with Rhenus, the goal is of course to determine what effect can be achieved with solar panels on the trucks.
+++ DATES +++
Deutsches Museum Munich, Forum of the Future, July 22, 2022:
Jona at the "Festival of the Future":
https://www.munich-startup.de/veranstaltung/festival-der-zukunft/
+++ FUN FACT +++
My list of the most beautiful charging spots in Europe is one spot richer. Since Tesla has now opened the first Superchargers in Germany and Austria, everyone can go there - even with the Sion once it its available.
Flachau Supercharger
First place on the way south is still Flachau in Austria with its summer toboggan run - a ride on the train takes 11 minutes, perfect for the charging break. Ljubljana Ladepark is new on the list, very good coffee in the hotel cafeteria.
Kozina marks the bottom of the scale, four charging posts, a hot, shadeless asphalt desert.
Kozina
The only landmark is a nearby ancient-temple-style casino. Everyone stayed in the car. The positive thing about the spot is that it exists and it’s working.
https://www.tesla.com/de_AT/findus/location/supercharger/ljubljanasupercharger
https://www.tesla.com/de_AT/findus/location/supercharger/flachausupercharger
Stay healthy, stay safe,
Sebastian, Astrid, Andreas.