German solar car firm Sono Motors files for US IPO

German solar car firm Sono Motors on Friday filed for a US initial public offering (IPO), looking to cash in on investor demand as governments worldwide push for a shift to greener transport, reports Reuters.

Reuters reported in March that Sono is exploring a US stock market listing that may value the company at more than $1 billion, citing people close to the matter.

Sono was founded in 2016 by four friends from a small garage in Munich, and is developing the Sion, a fully-electric vehicle that has solar cells integrated into its bodywork. The car has a range of up to 305 kilometers (189.52 miles) and can be charged via solar power or from conventional power outlets.