Why Did Sono Group Stock Surge 65% Today?

Sono Group NV SEV shares closed up more than 65% on Tuesday after the company announced its 2021 financial results and issued a corporate update highlighting project deliveries and partner arrangements.

In the fourth quarter, Sono Group said it delivered its first solar-powered light-electric vehicle prototype to ARI Motors and installed its first RV solar retrofit for a client in the U.S.

Other highlights include the opening of the company's dedicated solar development facility, CES prototypes and the launch of the Sono app.

Sono Group said it had more than 16,700 direct consumer reservations by the end of 2021.

"We have achieved major milestones on our growth path. We’re scaling up our Sono Solar business, have delivered several products to B2B customers in the last months, and thus generated first revenues," said Laurin Hahn, co-founder and CEO of Sono Group.

Sono Group is engaged in the field of solar-powered electric mobility.

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SEV 52-Week Range: $3.88 - $47.49

According to data from Benzinga Pro, the stock was down 2.37% in after hours at $7.42 at press time.

Photo: courtesy of Sono Group.