Trouble for Sono Motors: Investigation into fraud

Sono Motors was actually supposed to revolutionize the automotive market. But the Munich-based start-up’s plan didn’t work out. Now the founders also have to fear investigations by the public prosecutor’s office. The allegations against the solar car start-up are serious.

Public prosecutor’s office opens investigation

When it was announced in February 2023 that Sono Motors would be scrapping production of its pioneering Sono Sion, it was not only the founders Laurin Hahn and Jona Christians who were saddened. Fans of electromobility were also saddened, as the innovative concept was considered to have great potential. Not to mention the investors. However, even more than a year after the end of production, there appear to be negative consequences for the founders.

As the magazine Capital reports, an investigation has been initiated by the public prosecutor’s office in Munich. The focus is on the two founders. The accusation: they are alleged to have obtained too much short-time working allowance by way of subsidy fraud. Capital obtained this information via a report to the US Securities and Exchange Commission. Sono Motors has informed the US authorities that a corresponding allegation is pending.

According to the public prosecutor’s office, Sono Motors is alleged to have misled the public about the extent of the reduced working hours in 2020. As a result, it is said to have received more financial support from the state in the form of short-time work compensation than it was actually entitled to. Laurin Hahn, one of the two founders, also spoke to Capital. The total sum involved is said to be just under 40,000 euros. He was not prepared to provide any more information. In view of the ongoing proceedings, this is of course understandable.

Sono Motors sees no unanswered questions

If the solar car start-up has its way, most of the issues surrounding the complex should have been resolved by now. Sono Motors has at least made this clear to the US Securities and Exchange Commission. Conversely, however, this means that there are probably still outstanding claims. Apart from this, Sono Motors does not seem to know anything about the allegations. On the contrary, the company points out that the two former CEOs are the appropriate contact persons. This case is certainly highly explosive.

And this is not only because the Munich public prosecutor’s office is trying with all its might to clarify the allegations. Rather, there are still many disgruntled investors in the once so promising start-up, as the Capital report also shows. They would like to know where their investments in the millions have ended up. It is possible that Sono Motors will face a real wave of lawsuits from creditors after the investigation proceedings have been clarified.