Sony and Honda, two of Japan’s biggest names in business, confirmed their joint venture that manufactures and sells electric vehicles. It will be established later this year, and deliveries will begin in 2025.
The two companies’ joint statement revealed that details are still being finalized, and the venture will be subject to regulatory approval afterward.
They explained, “The new company is expected to plan, design, develop, and sell the EVs, but not own and operate manufacturing facilities.”
Honda will be in charge of production at one of its factories, while Sony is set to create a platform for mobility services. No other elaboration was given on this.
Sony, despite being a Japanese conglomerate best known for its electronic gadgets and entertainment products, expressed its interest in the car industry with its first prototype vehicle unveiled at the CES consumer tech trade show in 2020. The vehicle, called the Vision-S 01, was tested on public roads in Europe in December 2020.
Sony took its interest in the car industry to another level with the Honda joint venture vehicle company and the announcement of a new sports utility vehicle concept.
Kenichiro Yoshida, CEO for Sony, said at CES in January, “With our imaging and sensing, cloud, 5G and entertainment technologies combined with our content mastery, we believe Sony is well-positioned as a creative entertainment company to redefine mobility.”
Honda CEO Toshihiro Mibe also said on Friday that they think the two companies will work well together.
“Although Sony and Honda are companies that share many historical and cultural similarities, our areas of technological expertise are very different.”
“Therefore, I believe this alliance, which brings together the strengths of our two companies, offers great possibilities,” Mibe said.
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