Sony group corporation and Honda Motor Co., Ltd. has announced that they have signed a joint venture agreement to set up a new company, namely Sony Honda Mobility Inc., To engage in the sale of Electric Vehicles (EVs) as well as to provide services for mobility.
The latest announcement is a further result of a memorandum of understanding signed between the two companies in March, which outlined their intention to set up a joint venture to develop EVs and provide mobility services.
According to a joint press release, Sony Honda Mobility Inc. will aim to bring together Sony’s expertise in development, Honda’s state-of-the-art environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology and after-sales service management experience. The application of imaging, sensing, telecommunication, network and entertainment technologies”, to create a new generation of mobility and services for mobility that are aligned with the environment, and continue to evolve over time.
If all goes according to plan, the new joint venture will be set up within 2022, with the first EV set available for sale in 2025. Although, Sony and Honda Say the commencement of business is subject to relevant regulatory approvals. While their roles are quite different, the two companies have a 50% stake in the joint venture.
The latest announcement is a further result of a memorandum of understanding signed between the two companies in March, which outlined their intention to set up a joint venture to develop EVs and provide mobility services.
According to a joint press release, Sony Honda Mobility Inc. will aim to bring together Sony’s expertise in development, Honda’s state-of-the-art environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology and after-sales service management experience. The application of imaging, sensing, telecommunication, network and entertainment technologies”, to create a new generation of mobility and services for mobility that are aligned with the environment, and continue to evolve over time.
If all goes according to plan, the new joint venture will be set up within 2022, with the first EV set available for sale in 2025. Although, Sony and Honda Say the commencement of business is subject to relevant regulatory approvals. While their roles are quite different, the two companies have a 50% stake in the joint venture.
Sony Vision-S02 Electric SUV Prototype Interior. Image used for representational purpose.
Yasuhide Mizuno, President and CEO, Sony Honda Mobility Inc., said, “We are very pleased to sign this joint venture agreement, which represents the start line from which we begin the larger challenge of revolutionizing mobility and creating new value. We do.” (Schemed) and Senior Managing Officer of Honda Motor Company Limited.
“We plan to fully leverage technological assets in various areas, such as Sony’s sensing technology and Honda’s core mobility development capabilities, to realize mobility and services that inspire and excite our customers. Both By bringing together the expertise of companies, we aim to lead a new era.”