Sony and Honda have officially signed a joint venture agreement to establish a company to build electric cars together.
Sony Honda Mobility Inc,plans to start sales of both their first EV and “provision of services for mobility” in 2025.
The project company will be called “Sony Honda Mobility Inc.,”
*Reuters tweet on Honda-Sony joint venture
Japan's Sony and Honda signed an agreement for a new joint venture to sell electric cars in 2025, investing about $37.5 million each to start a new company called Sony Honda Mobility https://t.co/eddX0oyp4c pic.twitter.com/Pl2HSBH0x1
— Reuters (@Reuters) June 18, 2022
Sony and Honda signed a memorandum of understanding to signal their intent to work together.
The company will also focus on “mobility services,” building on Sony’s January announcement of the formation of “Sony Mobility, Inc.”
Honda’s press release states:
The new company will aim to bring together Honda’s cutting-edge environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology and after-sales service management experience, with Sony’s expertise in the development and application of imaging, sensing, telecommunication, network and entertainment technologies, to realize a new generation of mobility and services for mobility that are closely aligned with users and the environment, and continue to evolve going forward.
Honda has been slow to develop electric vehicles, along with most other Japanese automakers. While they seem to finally be making some moves under their new CEO and former R&D head Toshihiro Mibe, they are still a good ways behind.
Honda will bring its car-building experience and Sony will bring its software and technology experience.
For some time now, Sony has been making their EV ambitions more and more clear over the last few years, showing their VISION-S concept EV at the last three CES conferences.
Sony Honda;Vision EV Prototype