Japanese industrial giants Sony and Honda have announced plans to establish a joint venture to develop “high value-added” battery electric vehicles and commercialise them “in conjunction with providing mobility services.”
The new company could be up and running later this year, subject to relevant regulatory approvals.
The alliance aims to bring together Honda’s car development, manufacturing and after-sales service experience, with Sony’s expertise in telecommunications, entertainment technologies and more recently imaging and sensing technologies.
The new enterprise, currently referred to as “New Company”, is expected to launch its first electric vehicle in 2025. The new company will plan, design, develop, and sell the resulting EVs, but will not own and operate production facilities in its own right. Honda will be responsible for manufacturing, Sony will develop a new mobility service platform.
Sony Chairman, President and CEO, Kenichiro Yoshida said, “Sony’s Purpose is to ‘fill the world with emotion through the power of creativity and technology.’ Through this alliance we intend to build on our vision and contribute to the evolution of mobility centred around safety, entertainment and adaptability.”
Honda CEO Toshihiro Mibe added, “Although Sony and Honda are companies that share many historical and cultural similarities, our areas of technological expertise are very different.” The new company, he continued “will aim to stand at the forefront of innovation, evolution, and expansion of mobility by taking a broad and ambitious approach to creating value that exceeds the expectations and imagination of customers.”