Sono Group N.V. (NASDAQ:SEV) Q3 2022 Earnings Call Transcript

Laurin Hahn: First of all, believe it or not, but we love every EV that gets produced and put online. We even love it more if solar electric vehicles get out there. We don’t see any competitor in the next 10 years in the market that’s increasing massively. Particularly, shoutout to Lightyear. If I’m not mistaken, the car is about 10 times our price. It’s a wonderful product. It’s a low volume, high priced product. And with that kind of production, you actually do a lot of work by hand. So you have a lot of high variable cost. While we have the first affordable solar electric vehicle, and that’s why we’re upfront investing into tools and machinery that makes this car sell at €25,000 or roughly $25,000 net. So that is the main difference. And we hope to see many more solar electric vehicles coming out in the future.

Austin Zocco: I just had one more around on the marketing campaign that you guys are running. So are you a little concerned about like upsetting your customer base if you don’t hit the delivery milestones like you publicly announced of starting at Q1 of 2024? Are you concerned that maybe some of the people that paid down early are going to be upset if you guys have to push back on delivery.

Thomas Hausch: We’re trying to be very transparent with our community, publishing biweekly €“ every second week, a sprint report on our website. We’re publishing even on our website, the exact time plan to production. And, yes, another delay is, of course, not a great news to our customers. But we are trying to be that very transparent OEM who delivers also the reason for it, the rationale behind it and we think our community can deal with it.

Operator: There seems to be no further questions at this time. Please continue.

Unidentified Company Representative: Thank you, Heidi. Thank you all for joining our conference call. If you need more information, please take a look at our website or reach out directly to our IR team. Have a great day and hope to be talking to you soon.

Laurin Hahn: Thank you, all. Bye-bye.

Thomas Hausch: Thank you.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.