Sono Motors has presented its five-member supervisory board. The background is the company’s US IPO launched in mid-November: the ordinary shares of the Munich-based electric car start-up have been traded on the Nasdaq Global Market under the symbol “SEV” since 17 November.
The supervisory board will be chaired by Wilko Stark, formerly head of purchasing at Mercedes-Benz Cars and head of product strategy at VW. Martina Buchhauser, who was previously a member of the board of Volvo Cars, becomes vice-chairman. They will be joined by financial expert Robert Jeffe and Sebastian Böttger and Johannes Trischler as representatives of the community and employees.
“By going public, we have come even closer to our goal of equipping every vehicle with solar and delivering the Sion to our Community,” said Jona Christians, CEO and co-founder of Sono Motors. “Our board of international industry experts and representatives of our key stakeholders — our Community — will help us achieve our mission.” The quintet on the supervisory board has strong expertise in the areas of mobility, automotive, digitalisation and corporate governance.
Wilko Stark himself speaks of a great privilege “to be involved in this exciting time as Chairman of the Supervisory Board at Sono Motors and to be an active part of the vision”. He firmly believes in the mission of Sono Motors.
The Munich-based company placed 10 million shares on Wall Street about a fortnight ago at a price of 15 US dollars each. The volume of the IPO amounted to 150 million dollars, the equivalent of a good 132 million euros. Currently, as reported, the company is granting the underwriters a 30-day option to acquire up to 1.5 million additional ordinary shares at the public offering price.
Sono is known to be planning to start production of the vehicle at contract manufacturer National Electric Vehicle Sweden (NEVS) in 2023. Most recently, however, there has been confusion about the contractual status between Sono Motors and NEVS.