Subsidiary of Sono Group N.V. Sees Successful Reception of New Solar Solutions at IAA ...

Munich, Sept. 26, 2024 (GLOBE NEWSWIRE) -- The solar technology company Sono Group N.V. ( OTCQB: SEVCF ) (hereafter referred to as “Sono” or the “Company”, parent company to Sono Motors GmbH or “Sono Motors”) announced today the successful exhibition and launch of its new solar kits for trucks and vans, as well as its high-voltage solar products for semi-truck trailers, at IAA Transportation 2024 in Hannover. The latest product innovations from Sono Motors attracted the attention of fleet operators, manufacturers of trucks, buses, trailers and  truck bodies, suppliers of transport refrigeration units and industry professionals alike.

The exhibition provided attendees the opportunity to experience these innovations firsthand and engage directly with the Sono Motors team. The team from Sono Motors found the feedback to be resoundingly positive, especially with respect to the practical benefits of Sono Motors’ products in reducing fuel consumption and CO2 emissions for commercial fleets.

“We were thrilled by the reception of our new solar products at IAA, and believe the interest from fleet operators and transportation professionals reaffirmed the market demand for efficient and sustainable solutions in the commercial vehicle sector” said Jan Schiermeister, Managing Director of Sono Motors. 

The new solar kits and high-voltage products are available immediately to customers, reflecting Sono Motors’ commitments to providing practical solutions for businesses looking to reduce total cost of ownership and achieve their sustainability goals and to advancing solar mobility by pushing the boundaries of innovation in the transportation industry. The company is already planning for future collaborations and partnerships following its successful showing at IAA 2024.

Sono Motors is also excited to announce its participation in InnoTrans 2024, taking place in Berlin from September 24-27, 2024. This global transportation trade fair will provide another opportunity for Sono Motors to showcase its innovative solar products and engage with industry leaders in the transportation and mobility sectors.

For more information about Sono Group N.V., Sono Motors, and their solar solutions, visit sonogroupnv.com and sonomotors.com.

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ABOUT SONO GROUP N.V.

Sono Group N.V. (OTCQB: SEVCF) and its wholly-owned subsidiary Sono Motors GmbH are on a pioneering mission to accelerate the revolution of mobility by making every vehicle solar. Their disruptive solar technology has been developed to enable seamless integration into all types of vehicles to reduce the impact of CO2 emissions and pave the way for climate-friendly mobility.

CONTACT

Press:

press@sonomotors.com | www.sonomotors.com/press

Investors:

ir@sonomotors.com | ir.sonomotors.com

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. The words "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the intentions, beliefs, or current expectations of the Company and Sono Motors GmbH (together, the “companies”). Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and could cause the companies’ actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and assumptions include, but are not limited to, risks, uncertainties and assumptions with respect to: our ability to access the unfunded portion of the investment from YA II PN, Ltd. (“Yorkville”), including our ability to successfully comply with the agreements related thereto and the absence of any termination event or any event of default; our ability to maintain relationships with creditors, suppliers, service providers, customers, employees and other third parties in light of the performance and credit risks associated with our constrained liquidity position and capital structure; our status as a foreign private issuer under the Securities Exchange Act of 1934; our ability to comply with OTCQB continuing standards, as well as our ability to have our shares admitted to trading on a stock exchange in the future; our ability to achieve our stated goals; our strategies, plan, objectives and goals, including, among others, the successful implementation and management of the pivot of our business to exclusively retrofitting and integrating our solar technology onto third party vehicles; our ability to raise the additional funding required beyond the investment from Yorkville to further develop and commercialize our solar technology and business as well as to continue as a going concern. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to our filings with the U.S. Securities and Exchange Commission (“SEC”), including our Annual Report on Form 20-F, which are accessible on the SEC’s website at www.sec.gov and on our website at ir.sonomotors.com. Many of these risks and uncertainties relate to factors that are beyond our ability to control or estimate precisely, such as the actions of courts, regulatory authorities and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the Company assumes no obligation to update any such forward-looking statements.