German Solar Motors has filed a lawsuit against US IPO – ET EnergyWorld

New Delhi, a German solar car company, offered its first public offering (IPO) to the United States on Friday, as it seeks to meet the needs of investors around the world as it moves towards green transport.

Reuters reported in March that Sono was citing a list of US stock markets valued at more than $ 1 billion, according to sources close to the matter.

Sono Founded in 2016 by four friends from a small garage in Munich, Sion is developing a fully integrated solar cell. The car is up to 305 km (189.52 miles) long and can be powered by solar or conventional power stations.

The company said in a statement that it plans to start delivering the cars in the first half of 2023.

Sono reported more than 14,000 prepayments, with a net cash flow of 38.8 million euros ($ 45.16 million) by the end of August and a total of 37.9 million euros by the end of June.

These holdings are worth about ሚሊዮን 300 million in net sales. Sono said it plans to license and sell solar technology to manufacturers of buses, trucks, campers, trains and boats.

The company’s file, released ahead of next month’s COP26 global climate talks in Glasgow, highlights the need for climate-friendly and affordable electricity to curb overall carbon emissions.

Government policy changes to deal with global warming By 2030, about 30% of all vehicles on the road could result in zero-emission vehicles, the policy report predicted Monday.

According to McKinsey & Company, the CVD-19 epidemic has prompted many governments to increase consumer incentives for electric vehicle purchases as economic stimulus programs.

Bernberg and Craig-Halum are the authors of the gift. ($ 1 = 0.8593 euros)


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