comscore Tesla rival coming soon? Sony and Honda partner up to build new EV company

Sony and Honda join hands to build a new electric vehicle company

Sales of the first EV model from the New Company are expected to start in 2025. The New Company is expected to plan, design, develop, and sell the EVs

Sony Mobility

Sony and Honda have partnered to form a New Company to build EVs.

Sony and Honda, two of Japan’s biggest brands have announced that they are joining hands to work on electric vehicles. The announcement comes the months after Sony revealed its own concept electric car. The companies, in a joint statement, said that the partnership will be a strategic alliance that aims to create a new era of mobility and mobility services. Also Read - Sony PlayStation Plus to arrive in India on May 24: Here’s the list of games you can play

Sony and Honda have stated that their intent is to establish a joint venture (“New Company”) through which they plan to engage in the joint development and sales of high value-added battery electric vehicles (EVs). The companies also plan to commercialize them in conjunction with providing mobility services. Also Read - New TVS iQube long range electric scooter to launch today: Here's what to expect

The Japanese giants plan to work on the agreement immediately and they have a goal of establishing the New Company within 2022. Also Read - Sony PlayStation Plus subscription launch date announced: Check all games coming to the service

How will Sony-Honda partnership work?

Under the new partnership, Honda will be contributing with its mobility development capabilities, vehicle body manufacturing technology and after-sales service management. Sony, on the other hand, will provide expertise in the development and application of imaging, sensing, telecommunication, network, and entertainment technologies.

Sales of the first EV model from the New Company are expected to start in 2025. The New Company is expected to plan, design, develop, and sell the EVs, but not own and operate manufacturing facilities, so Honda is expected to be responsible for manufacturing the first EV model at its vehicle manufacturing plant. It is expected that a mobility service platform will be developed by Sony and made available for the New Company.

Kenichiro Yoshida, Representative Corporate Executive Officer, Chairman, President and CEO, Sony Group Corporation said, “Sony’s Purpose is to `fill the world with emotion through the power of creativity and technology.’ Through this alliance with Honda, which has accumulated extensive global experience and achievements in the automobile industry over many years and continues to make revolutionary advancements in this field, we intend to build on our vision to `make the mobility space an emotional one,’ and contribute to the evolution of mobility centered around safety, entertainment and adaptability.”

Toshihiro Mibe, Director, President, Representative Executive Officer and CEO, Honda Motor Co., Ltd. said, “The New Company will aim to stand at the forefront of innovation, evolution, and expansion of mobility around the world, by taking a broad and ambitious approach to creating value that exceeds the expectations and imagination of customers. We will do so by leveraging Honda’s cutting-edge technology and know-how in relation to the environment and safety, while aligning the technological assets of both companies. 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 for the future of mobility.”

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  • Published Date: March 4, 2022 4:07 PM IST

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