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Sono Motors

EVGermany
📉 Public < $1B
Peak $1.5 BillionToday
~-90%
from peak
  1. 🦄
    Became a unicorn
    Nov 2021
  2. 📈
    Peak valuation
    $1.5 Billion ’21
  3. 💔
    Became a Unitard
    2022
  4. 💸
    Last valuation
    ~$150M
Current status
Public sub-$1B (killed Sion program)

How it happened

Sono Motors, a German EV startup, developed the solar-paneled Sion car and IPO'd on Nasdaq in November 2021 at roughly a $1.5B valuation. Unable to raise enough funding to mass-produce the Sion, it killed the consumer car program in early 2023 to focus on solar technology for third parties. Its market cap fell well below $1B, about 90% off peak.

Source: Quartz