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June 16, 2022

Honda and Sony ink EV/mobility JV deal

Strategic alliance announced back in March.

By Graeme Roberts

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.

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The announcement is the furtherance and result of discussion of a mobility strategic alliance between the parties as announced back in March.

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.”

Free Report
img

What does the future hold for the US electric vehicles market?

The US Electric Vehicles (EV) market has established itself as one to watch. Despite China maintaining the number one spot, the US holds significant standing as one of the major EV markets, with GlobalData’s whitepaper identifying a strong growth trajectory within the forecast period. This report further analyzes the trends, market drivers, and government incentives set to influence and facilitate the market.   This report also looks beyond the US and touches on environmental concerns set to drive the EV market worldwide.   Want to find out more? This report demonstrates GlobalData Explorer’s sector analysis capabilities, showing how you can:  
  • Get historical and forecast market sizing data, with country specific insight for 22+ of the world’s largest industries
  • Track sector dealmaking activity, to view aggregate volumes, specific deals and top investors for all major deal types in M&A, Capital Raising, and Partnerships
  • Analyze news from GlobalData Explorer’s News Database – enable screening and alerts by industry, company, geography and news sentiment for filtered insight
  • Identify and track the key disruptive trends that are keeping the top digital thought leaders talking through social media analytics
  Consult this report now to find out how you and your company can benefit from our Explorer platform.
by GlobalData
Enter your details here to receive your free Report.

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