Sono Motors to exit administration after court approval

Sono Motors GmbH said Wednesday it expects to exit its self-administration proceedings on February 29 after its insolvency and restructuring plan was confirmed by an insolvency court in Munich.

The court’s approval has enabled the company to close its previously announced investor deal with YA II PN Ltd, a hedge fund managed by Yorkville.

Sono Motors last year discontinued its Sion solar electric vehicle project and is now focused on its Solar Bus Kit product and solar power electronics that allow solar integration into various vehicles.

“With our Solar Bus Kit, we have a ready-to-market product that can reduce a bus’s energy consumption and, as a result, also its costs and CO2 emissions. This product can be retrofitted to almost any bus and, therefore, addresses a large potential market." stated Jan Schiermeister, who is the company’s new managing director together with Denis Azhar.

Sono Motors also said it has recently signed an agreement with Hungary's Nova-Papir Zrt, which will be its first reseller for the Solar Bus Kit, targetting sales of 81 kits by the end of 2025.

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