JAKARTA - Two of Japan's biggest names in global business have collaborated. Sony and Honda announced Friday that they plan to start a joint venture that makes and sells electric vehicles.
The companies will be established later this year, and deliveries will begin in 2025. The details of the agreement are still being worked out, and will be subject to regulatory approval, the two companies said in a joint statement.
Details of the agreement are still being worked out, and will be subject to regulatory approval, the two companies said in a joint statement.
"The new company is expected to plan, design, develop, and sell EVs, but does not own and operate manufacturing facilities," they explained.
Honda will handle production at one of its factories. Meanwhile, Sony will be tasked with creating a platform that will provide mobility services, he said, without elaborating. This Japanese conglomerate is famous for its electronic gadgets and entertainment products.
But it recently signaled a desire to dive into the auto industry, launching its first prototype vehicle at the CES consumer technology trade show two years ago. Sony began testing the car, called the Vision-S 01, on public roads in Europe in December 2020.
This year, the company took another step by confirming plans to launch an electric car company, debuting a new sport utility vehicle concept.
"With our imaging and sensing, cloud, 5G and entertainment technologies combined with our mastery of content, we believe Sony is well positioned as a creative entertainment company to redefine mobility," said Sony CEO Kenichiro Yoshida at CES in January.
Meanwhile, Honda CEO Toshihiro Mibe said Friday that the companies can work well together.
"Although Sony and Honda are companies that share a lot of history and culture, our areas of technology expertise are very different," said Mibe.
"Therefore, I believe this alliance, which brings together the strengths of our two companies, offers great possibilities," he said in the statement.
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