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Sony and Honda announce a joint venture to create electric vehicle company
It will be a 10 billion yen joint venture known as Sony Honda Mobility

Sony and Honda are going to become a joint venture known as Sony Honda Mobility Inc. It will be a 10 billion yen ($74,083,950) joint venture creating a new electric vehicle company. The Tokyo-based new manufacturer will make use of Sony’s experience in imaging, telecommunications, and computer sense. This also includes network and entertainment technologies.

 Sony and Honda officially sign a joint venture to sell EVs by 2025

Image credits- ET Auto

While Hond will be supplying its experience in vehicle manufacturing, after- deals service, and safety technologies. This company is set to be established by the end of this time and will essay to deliver its first vehicles in 2025. Both CEOs of Sony and Honda feel agitated about their unborn work with each other. Sony CEO Kenichiro Yoshida said in a comment that the thing will be to “make the mobility space an emotional bone ” and that the focus of the new brand will be on safetyentertainment, and rigidity. Meanwhile, Honda CEO Toshihiro Mibe participated in analogous positive commentarystating that the automaker will continue its own automotive brandstill, he was agitated to embrace a new challenge. Mibe said he believes that Honda and Sony complement each other well.

Investing in EVs

Sony first announced its interest in electric vehicles back in 2020 when they released their Vision S-01 concept car, and while many were skeptical of the future of “Sony Mobility Inc.”, the car had been made in conjunction with Magna Incorporated. Magna is a Canadian auto parts manufacturer and one of the largest in the world, with hundreds of production facilities, thousands of workers, and a history of manufacturing everything from seats to car panels for decades. Donut Media even made a great video about the possible partnership. And while it appeared that that relationship was going to continue with the showing of the Vision S-02 concept SUV shown at this year’s CES, Sony has clearly chosen to change course.

It is unclear at this point how this new relationship between Sony and Honda was chosen over one with Magna, or how new products from Sony Honda Mobility will differ from their Honda counterparts. Further questions have emerged as the first products from Sony Honda Mobility will likely come at around the same time Honda begins selling the Honda Prologue via their other partnership with GM.

Shares in Honda and other Japanese automakers were down between 3% and 5% on Friday as world stocks were set to slide amid fears that sharp interest rate increases by central banks would tip economies into recession.

History from – Teslarati

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