Japanese electronics major Sony Group and Honda Motor Co have inked a strategic alliance and signed an MoU that outlines their intent to establish a new joint venture for joint development and sales of “high value-added battery electric vehicles (EVs) and commercialise them in conjunction with providing mobility services.”
The partners are working on outlining the agreements and are expected to form the new company this year. As per the announcement, the alliance will see Honda brings its expertise in mobility development capabilities, vehicle body manufacturing technology and aftersales service management, while Sony will bring the development and application of imaging, sensing, telecommunication, network, and entertainment technologies, to realise a new generation of mobility and services that are closely aligned with users and the environment and continue to evolve going forward.
The first EV from the new JV is expected to go on sale in 2025. The JV is expected to plan, design, develop, and sell the EVs, but will not own and operate manufacturing facilities. This is where Honda will be responsible for manufacturing the first EV model at its plant. It is expected that a mobility service platform will be developed by Sony and made available for the new company.
Kenichiro Yoshida, representative corporate executive officer, chairman, president and CEO, Sony Group Corporation said, “Through this alliance with Honda, which has accumulated extensive global experience and achievements in the automobile industry over many years and continues to make revolutionary advancements in this field, we intend to build on our vision to `make the mobility space an emotional one,' and contribute to the evolution of mobility centered around safety, entertainment and adaptability."
Toshihiro Mibe, director, president, representative executive officer and CEO, Honda Motor Co said, "The new company will aim to stand at the forefront of innovation, evolution, and expansion of mobility around the world, by taking a broad and ambitious approach to creating value that exceeds the expectations and imagination of customers. We will do so by leveraging Honda's cutting-edge technology and know-how in relation to the environment and safety, while aligning the technological assets of both companies. Although Sony and Honda are companies that share many historical and cultural similarities, our areas of technological expertise are very different. Therefore, I believe this alliance which brings together the strengths of our two companies offers great possibilities for the future of mobility."