Published on March 10th, 2022 | by Subhash Nair0
Sony And Honda May Be Making Electric Vehicles Together
Sony and Honda have announced their intention to work together on electric mobility.
Back in 2020, Sony shocked the whole industry by showing an a prototype car. Most thought it was just an experiment, but the company did it again at the start of 2022 with a second prototype. Now it looks like Sony has found an automotive partner to make their vision come to fruition and it’s Honda!
Honda sounds like the perfect partner for this endeavour. They’re a little behind when it comes to battery electric vehicles, with just the Honda e on sale in Europe.
Sony and Honda have signed a memorandum of understanding to establish a joint venture company with the intention to develop and sell high value-added battery electric vehicles and work on providing mobility services.
We’re excited to see what these two Japanese giants can do together.
Sony Group Corporation (“Sony”) and Honda Motor Co., Ltd. (“Honda”) today announced that they have agreed to deepen discussion and exploration of forming a strategic alliance that aims to create a new era of mobility and mobility services.
Specifically, the two companies have signed a memorandum of understanding that outlines their intent to establish a joint venture (“New Company”) through which they plan to engage in the joint development and sales of high value-added battery electric vehicles (EVs) and commercialize them in conjunction with providing mobility services.
The two companies will proceed with negotiations toward executing various definitive binding agreements, including a joint development agreement and a joint venture agreement, with a goal of establishing the New Company within 2022, subject to execution of the definitive agreements and relevant regulatory approvals.
This alliance aims to bring together Honda’s mobility development capabilities, vehicle body manufacturing technology and after-sales service management experience cultivated over many years, with Sony’s expertise in the development and application of imaging, sensing, telecommunication, network, and entertainment technologies, to realize a new generation of mobility and services that are closely aligned with users and the environment, and continue to evolve going forward.
Sales of the first EV model from the New Company are expected to start in 2025. The New Company is expected to plan, design, develop, and sell the EVs, but not own and operate manufacturing facilities, so Honda is expected to be responsible for manufacturing the first EV model at its vehicle manufacturing plant. It is expected that a mobility service platform will be developed by Sony and made available for the New Company.