From GlobeNewswire: 2025-04-17 09:03:00

Sono Group reported its first annual net income of €65.0 million in 2024, attributed to reconsolidation gains and expanded solar product offerings for commercial vehicles. The company formed a strategic partnership with Merlin Solar for global distribution and received Germany’s first National Type Approval for vehicle-integrated photovoltaics. Sono aims to convert notes payable into preferred equity to improve its balance sheet.

In 2024, Sono Group diversified its product portfolio to include solar solutions for trucks, vans, and refrigerated trailers. Technological advancements were made with a new solar charge controller and solutions for vehicles with higher energy demands. The Company received the Lorenzo Cagnoni Award for Green Innovation and secured funding for capital structure improvements.

Sono Group recently partnered with Merlin Solar Technologies for distribution in Europe and the Americas. The company is focusing on OEM collaborations to offer integrated solar solutions at the point of sale. Achieving Germany’s National Type Approval for vehicle-integrated photovoltaics marked a regulatory milestone. The company aims to continue its strategic growth and pursue an uplisting to Nasdaq Capital Market.

Financially, Sono Group reported a net income of €65.0 million for 2024, reduced operating expenses, and optimized its capital structure. The company aims to convert outstanding debt into preferred equity to eliminate short-term obligations. Plans include advancing OEM partnerships, strengthening global collaborations, and developing innovative solar mobility solutions for commercial vehicles.

Sono Group N.V. and its subsidiary Sono Motors GmbH are focused on revolutionizing commercial vehicle mobility with solar technology. The company’s mission is to reduce CO2 emissions and promote climate-friendly mobility through solar integration. For more information, visit sonogroupnv.com and sonomotors.com. Follow them on social media platforms for updates.



Read more at GlobeNewswire:: Sono Group N.V. Announces Fiscal Year 2024 Annual Report