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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Sono Motors, German start-up, to roll out solar car next year

Sion, a solar electric vehicle developed by Sono Motors, is surrounded by the viewers in Munich. (AFP)
  • The car, which boasts a battery range of 305 kilometers, is aimed at families as well as car sharing services
  • The large black Sion hatchbacks are covered with 456 solar cells which allow it to generate on average enough electricity over a week to power the car 112 kilometers
The Sion, a five-person family car covered completely in solar panels, should enter into serial production in the second half of 2023, the German start-up developing the vehicle said Monday.
Following years of development, Sono Motors is now building a fleet of test vehicles before confiding mass production to Valmet Automotive, a Finnish company which produces vehicles under contract. 

 

The large black Sion hatchbacks are covered with 456 solar cells which allow it to generate on average enough electricity over a week to power the car 112 kilometers (70 miles).

The car, which boasts a battery range of 305 kilometers, is aimed at families as well as car sharing services.

Sono Motors already has 19,000 reservations for the Sion, with the average advance of 2,225 euros ($2,225) helping finance development.

The company plans to produce more than 250,000 of the vehicles over the next seven years at a price of just over 25,000 euros.

Both startups and established carmakers have begun to integrate solar panels on electric vehicles to extend the range.

The Lightyear 0 is supposed to begin shipping to clients later this year, but only a thousand or so are to be produced at a price tag of 250,000.

The Spain-based firm plans to roll out a mass market vehicle in 2024-2025.

The California start-up Aptera hopes to deliver a two-seat three-wheel vehicle next year and has 25,000 orders.

One version of the vehicle with a range of 400 kilometers costs $26,000, while another with 1,600 kilometers in range costs $46,000.