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Why did it increase more than 2% today

  • Sono Group NV (NASDAQ: SEV) share price rose more than 2% during intraday trading today. This is why.

The share price of Sono Group NV (NASDAQ: SEV), the company that aims to revolutionize the future of solar-powered transportation, rose more than 2% during intraday trading today. Investors are responding positively to Sono Motors’ announcement that it is working with Rhenus Group, one of the world’s leading logistics service providers with annual sales of €7 billion, on the use of smart solar technology in the logistics of last Mille.

The goal of the cooperation is to collect a large amount of solar data in real-world on-road operations to further optimize the potential of Sono Motors’ innovative solar technology for use in vans. And a first test vehicle from the Rhenus Group was equipped with irradiation sensors for this purpose and will be on the road over the next year in Berlin, Brandenburg and Mecklenburg-Vorpommern.

The flexible solar modules developed for integration into vehicle surfaces, in combination with the innovative Sono power electronics, also allow use in low or indirect sunlight, as is often the case when driving in urban areas. For example, a fully integrated solar system for a van has the potential to achieve an output of up to 8.8 peak kilowatts (kWp) with an area of ​​just under 54 square meters. In principle, the use of Sono Solar Technology offers customers in the transport and logistics sectors the possibility of saving fuel and greenhouse gas emissions, as well as greater independence from the charging infrastructure and a reduction in the time of inactivity. Other potential benefits include extension of vehicle battery life as well as reduced maintenance costs.

For complete solar data collection, Sono Motors has equipped the 15-tonne Rhenus truck with 4 light irradiation sensors on the sides and roof. And these will immediately record the intensity of solar radiation in a long-term test under real conditions. A data logger connected to the Sono Motors data center via an LTE connection transmits the data. And at Sono Motors, all measurement data is linked to concrete results and analyzed and transmitted to Rhenus.

Due to the versatility of its solar technology, Sono Motors has already signed more than 17 collaboration agreements with companies such as MAN, easymile and Münchner Verkehrsgesellschaft (MVG). And the first vehicles have already been delivered for some customers and partners, such as a solar bus trailer for the Munich transport company (MVG) and a light electric vehicle prototype for ARI Motors.

KEY QUOTE:

“The project with the Rhenus Group provides us with important data to further optimize our proprietary technology. Our solar technology has the potential to make a significant contribution to reducing emissions and increasing the scope of delivery to the end customer. Innovative technologies, such as solar-powered electric vans and trucks, could go a long way to the energy transition in the future, as additional land does not need to be sealed for this type of green power generation,” Jonas explains. von Frieling, director of the Innovation Hub. for Rhenus Home Delivery and Rhenus High Tech. “If there is a general shift in transport towards electric drives, the offer must grow accordingly. Solar cells in vehicles could relieve the grid in the process and offer respite to fleet managers by easing the burden on charging infrastructure. We are leading the way with our test project.”

— Jona Christians, CEO and co-founder of Sono Motors

Disclaimer: This content is for informational purposes. Before making any investment, you should do your own analysis.

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