In a blink-and-you-miss-it moment this week, one of the most interesting Electric vehicle (EV) start-ups in der Welt went public through a super successful initial public offering (IPO).
This company is the one based in Germany I am a group (NASDAQ:SEV) – a small electric vehicle company that is no different from any other electric vehicle manufacturer on the planet. This is not the next Tesla (NASDAQ:TSLA), it’s not the next either Clear group (NASDAQ:LCID) or Rivian (NASDAQ:RIVN) … and that’s intentional.
Because while all of these EV manufacturers are making plug-in electric vehicles, Sono is making the world’s first Solar electric vehicle, or “SEV. “
With a jump of 150% plus from its $ 15 IPO on Wednesday, investors have been betting on this company, which is led by a CEO who has barely left university.
In fact, at the age of 26, Sono founder Laurin Hahn has a completely different image than a typical CEO. Hahn is an environmentalist and an idealist at heart, which is why Sonos’ goal is not just to sell cars, but “to implement an innovative, CO2-neutral mobility concept”. From this vision comes the Manners – an inconspicuous, no-frills attempt to develop an effective solar EV for the masses.
And unlike the shiny, leather-clad premium electric vehicles that dominate most EV conversations, the Sion actually feels like a vehicle designed to keep the world on track towards net-zero carbon emissions bring to.
In order to align its vision with the needs of everyday drivers, the company’s signature vehicle – the Sion – had its users in mind from the start. From the color and upholstery of the car to the voltage and the resulting range of the battery, a community of 15,000 people voted.
Visually, the Sion essentially replaces the aluminum exterior and paintwork of an electric car with 248 flexible solar modules that are perfectly adapted to the shape of the vehicle.
The car looks, drives and behaves like any other mass-produced electric vehicle. But while it drives, it charges itself through these solar cells. The heart of the vehicle is still a battery, but it doesn’t depend on the grid – the battery can be charged by simply placing it in the sun.
The enormous added value is of course in the solution of so-called EV “Range fear,“Or the fear that electric cars won’t drive you as far as you need to.
To date, such fears have proven to be very justified. After all, your typical electric vehicle now has a range of around 400 kilometers. The average gasoline car can travel up to 400 miles per tank. So yes, EVs have been limited in terms of range in the past.
Sono Motors believes its Solar EV technology will fix this problem. And while it’s a very innovative solution that we find super interesting, there is only one small problem: It doesn’t really solve the range anxiety problem.
Sonos claim is that its solar cells together add about 70 miles of range to its Sion EV, which has an integrated range of 190 miles. Add it up, and even with those solar panels, the Sion still gets less than 300 miles of real-time driving range – much less than the 400 miles a gasoline car covers per tank.
But solar technology is not static – it is very dynamic. And right now, scientists around the world are working on several breakthroughs in solar technology to dramatically improve the performance of solar cells. One such promising breakthrough is the inclusion of perovskites in solar cells. Perovskites are a very flexible material and so could be incorporated into Sono’s solar mobility technology to significantly improve the performance of these SEVs.
In other words, while solar-electric vehicles are cool, the underlying solar cell technology here is still many years away from being robust enough to actually solve the fear of EV range.
This is the bad news.
The good news, however, is that we don’t even do it to need Solar electric vehicles against fear of range …
Because there is another breakthrough battery technology that is pioneering todaythat is ready to give an electric vehicle not just 70 or 80 miles of range, but potentially thousands of kilometers of range to an electric vehicle, allowing electric cars to travel up to 10x as far as gasoline cars on a single charge.
These batteries are the future and will forever solve the problem of range anxiety in electric vehicles.
And that’s why I came up with a simple name for this breakthrough in battery technology: The eternal battery.
It’s very simple … With them, electric cars last forever.
The technology behind these perpetual batteries is extraordinarily complex – so complex that no one has ever been able to build one big enough to power an electric car.
But that’s changing right now, because some companies in this field have built, for the first time ever, small “everlasting batteries” that work. Now all these companies have to do is scale these batteries up and make them bigger.
Don’t make a mistake. That’s exactly what they’re going to do. And the companies behind this eternal battery technology are becoming titans of the EV industry.
Not to mention, their shares will generate tremendous returns for shareholders.
So what will it be?
You could go right out and buy Sono stock after it has already doubled from its IPO price …
At the time of this writing, Luke Lango held positions (neither directly nor indirectly) in the securities mentioned in this article.