Honda and Sony are set to team up to develop electric cars.
The two Japanese companies have signed a Memorandum of Understanding (MoU) which sets out a plan to create a joint venture. The new company is aiming to build and sell “high value-added” battery electric vehicles and commercialise them “in conjunction with providing mobility services.”
The new joint venture could be established as early as this year, providing regulatory approvals go smoothly.
The new alliance aims to marry Honda’s “mobility development capabilities, vehicle body manufacturing technology, and after-sales service management,” with Sony’s knowledge of imaging, sensors, telecoms, networks and, of course, entertainment tech.
The expected lovechild from this marriage will be a “new generation of mobility and services” that are “closely aligned with users and the environment.” The first cars 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.
“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 centred around safety, entertainment and adaptability,” says Kenichiro Yoshida, Sony’s Representative Corporate Executive Officer, Chairman, President, and CEO.
Toshihiro Mibe, Director, President, and CEO of Honda adds:
“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.”
