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.
German solar car firm Sono Motors files for US IPO
FE Team | Published: October 24, 2021 23:21:32
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