Sono announced the move to crowdfunding in December after talks with potential investors broke down. Financial backers had demanded the company give up on the Sion car because they said it cost too much to manufacture, the company said in a statement at the time.
“We realized again and again over the past few months that we have entirely different goals to traditional financial investors,” Chief Executive Officer Laurin Hahn said. “Aggressive growth and quick profits are difficult to reconcile with a sustainable corporate and vehicle concept.”
The crowdfunding pushed back the expected production start of the car to Sept. 2021. The company had originally planned to start in 2019.
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