Munich, Feb. 13, 2025 (GLOBE NEWSWIRE) -- The solar technology company Sono Group N.V. (OTCQB: SEVCF) (hereafter referred to as "Sono Group" or the "Company", parent company to Sono Motors GmbH or "Sono Motors"), today announced the expansion of its product portfolio with two new solar kits: one designed for coach buses and another tailored for panel vans. Additionally, the Company is launching an Environmental, Social and Governance ("ESG") reporting feature within its fleet dashboard, providing customers with a seamless way to track and report sustainability data.
Building on the momentum of its existing Solar Bus Kit, Sono is now offering a specialized Solar Kit for coach buses, extending the benefits of solar integration to long-distance transport. This kit is designed to reduce fuel consumption and emissions by supporting auxiliary systems with clean, solar-generated energy. The coach version of our solar kit is designed for the aftermarket and is also available for direct order from leading coach manufacturers at the time of vehicle purchase. Integrating our solar technology into manufacturers' production lines marks another key milestone for solar mobility. Once again, Sono Group is at the forefront of the industry, setting new standards and meeting production-level requirements.
The newly introduced modification of Solar Truck and Van Kit enhances Sono's existing portfolio by offering a solution specifically tailored for panel vans, providing fleet operators with greater flexibility in adopting solar technology across their vehicle types.
Further enhancing its commitment to sustainability, Sono now offers an ESG reporting feature in its fleet dashboard. This capability enables fleet operators to generate reports quantifying solar energy generation in kWh, along with the resulting fuel savings and emissions reductions. With these detailed solar yield insights and reporting, customers can choose to seamlessly integrate sustainability metrics into their corporate ESG disclosures.
"This latest expansion underscores our commitment to accelerating the transition to solar-powered commercial transport," said George O'Leary, Managing Director and CEO at Sono Group. "With new solar kits extending our reach into long-haul buses and panel vans, and an ESG reporting tool that streamlines sustainability tracking for fleets, we are making solar mobility more accessible and impactful than ever before."
Sono Group continues to drive innovation in solar mobility, offering scalable, cost-effective solutions that deliver immediate operational savings and long-term sustainability benefits. The Company remains focused on expanding its solar portfolio and digital ecosystem to support the growing demand for clean, data-driven fleet management solutions.
For more information, visit sonomotors.com and ir.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 commercial vehicle solar. Our disruptive solar technology has been developed to enable seamless integration into all types of commercial vehicles to reduce the impact of CO2 emissions and pave the way for climate-friendly mobility. For more information about Sono Group N.V., Sono Motors, and their solar solutions, visit sonogroupnv.com and 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 (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: the Company's ability to uplist to the Nasdaq Capital Market, including meeting the initial listing requirements; the Company's ability to satisfy the conditions precedent set forth in its recent securities purchase agreement ("Securities Purchase Agreement") and exchange agreement ("Exchange Agreement") entered into with YA II PN, Ltd. ("Yorkville"); the timing of closing the transactions contemplated by the Securities Purchase Agreement and the Exchange Agreement; the impact of the transactions contemplated by the Exchange Agreement and Securities Purchase Agreement on the Company's operating results; the ability to access the unfunded portion of the investment from 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 ability to comply with OTCQB continuing standards; 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.
CONTACT
Press: press@sonomotors.com | ir.sonomotors.com/news-events
Investors: ir@sonomotors.com | ir.sonomotors.com
LinkedIn: https://www.linkedin.com/company/sonogroupnv
