Sono Group (NASDAQ: SEV), the holding company that owns Sono Motors, made its debut on the public markets last week to much fanfare. The company, which manufactures both solar infrastructure for vehicles and its own electric vehicle (EV) respectively, offered initial stock at $15 per share, right in the middle of the expected range. 

The IPO built on the general hype surrounding EVs, which is particularly high after Rivian's recent blockbuster IPO, to generate a high level of sales at first. The company reached a high of $47.49 on its second day of trading, an increase of over 216% from its $15 offering. This high was short-lived, however, as the stock has since crashed back to earth.

Why does this matter to investors?

It could potentially be unfair to hold Sono to blame for its sustained drop from such an elevated price. After Rivian delivered the biggest IPO since 2014 earlier in the month, the desire for more EV companies to debut was at an all-time high. Any company even partially associated with the industry could reasonably have been expected to see its prices soar at first as investors fought to get in on the ground floor.

Now that the price has seemingly stabilized, perhaps it would be wise to really examine the stock now for what it could offer to any potential investors.

Sono provides solar power solutions to other EV manufacturers. Its products offer a lightweight and durable option for companies looking to explore the alternative energy space. This could be a particularly lucrative market for Sono, as its products have the potential to greatly reduce fuel costs and extend the driving range for many larger vehicles that have the capacity to hold a number of solar panels.

Sono also has plans to produce its own EV, the Sion, beginning in 2023. The battery-powered car will benefit from the company's proprietary solar technology which will be integrated throughout the car's body panels. This novel vehicle could prove very properly with eco-conscious consumers, as the integrated solar power is expected to add up to 21 miles per day to the range of each vehicle.

So should I buy Sono Stock?

Sono is certainly a highly interesting company that is rooted in a commitment to eco-friendly vehicle production. The solar infrastructure currently offered by the firm has the potential to be very lucrative as the global transport world shifts towards running on electricity. However, its own EV offering is what will really intrigue investors. If it works, Sono's car has the potential to enter the market as a very affordable alternative to current EV offerings. It also boasts the added benefit of being cheaper to run and upkeep due to its solar system extending the time needed between charges.

Pre-IPO the company had taken over 16,000 reservations for the Sion and the desirability of the companies stock for investors will, more than likely, depend largely on how reservations and pre-sales continue as we move close to the 2023 target for production. We'll be keeping a close eye on any announcements from Sono surrounding the Sion, as this definitely has the potential for enormous growth if the firm can deliver on its lofty promises.

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