Sony Group and Honda Motor said they had signed a joint venture agreement to establish a new company to engage in the sale of high-value-added electric vehicles (EVs) and provide services for mobility.
The announcement is the furtherance and result of discussion of a mobility strategic alliance between the parties as announced back in March.
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The new company will aim to bring together Honda’s environment and safety technology, mobility development capability, 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 technology, to realize a new generation of mobility and services.
Sony and Honda plan to establish the new company within 2022 and to begin the sale of EVs and provision of mobility services in 2025. The establishment of the new company and the start of business are subject to relevant regulatory approvals.
Kenichiro Yoshida, chairman, president and CEO, Sony, said: “Based on our vision to ‘make the mobility space an emotional one,’ Sony’s initiatives in the mobility business are centered around the three areas of safety, entertainment and adaptability. As we continue our learnings in these areas, we are excited to have met a partner, Honda, with extensive global achievements and knowledge, and to sign the joint venture agreement between the two companies.”
Toshihiro Mibe, president and CEO, Honda, added: “We are very pleased to have signed a joint venture agreement with Sony, which has strengths in advanced digital technology, and shares our desire to take on new challenges.”
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By GlobalData