Honda and Sony have long considered the prospect of forming a joint venture to combine their skills and produce enticing electric automobiles. Recently, the two companies revealed that this joint venture has been created and that it will be a new company called Sony Honda Mobility Inc., providing Sony preeminence over the existing automaker.
The joint venture would come up with its first EV in 2025.
Both corporations will hold 50% of the joint venture, but their contributions to the project will be significantly distinct. Sony does not have automobile manufacturing experience but has years of technology expertise. As driving becomes more automated, the need to keep passengers interested will continue to expand.
The new agreement comes as the auto industry accelerates its transition from fossil-fuel vehicles to vehicles with more advanced technology. As they embark on that long journey, automakers are increasingly trying to collaborate.
Honda will build electric vehicles in its factories, while Sony will provide in-car amenities such as music and video accessories. According to press releases, the new company will sell “high-value-added electric vehicles.”
Toshihiro Mibe, CEO of Honda, said, “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.
“At the new company, we will strive to create new value ??through the fusion brought about by the combination of our different industries, so please look forward to future developments.”
Kenichiro Yoshida, Sony Group Corporation CEO, expressed similar views:
“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,” Yoshida said.
“We aim to contribute to the evolution of mobility by combining Honda’s cutting-edge environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology and after-sales service management experience with our expertise in imaging, sensing, telecommunication, network and entertainment technologies,” he added.