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Sony and Honda Form Joint Venture to Produce Electric Vehicles

Published on: 18 June 2022
by KnowESG
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Sony and Honda have formed a partnership to produce electric vehicles by 2025. The company will be known as "Sony Honda Mobility Inc." It will also focus on "mobility services." In January, Sony announced the formation of Sony Mobility.

The partnership will combine Honda's automotive knowledge with Sony's software and technological skills. It intends to begin selling its first electric automobiles and to provide "mobility services."

Honda, which currently only provides one electric vehicle, has stated that it will release 30 EV models and 2 million EVs yearly by 2030. Sony Honda Mobility Inc's chairman and CEO will be senior Honda executive Yasuhide Mizuno, while Sony executive vice president Izumi Kawanishi will be president and chief operating officer.

Sony and Honda will each contribute 5 billion yen ($37.52 million) to the company. Sony has made its EV goals plain in recent years, displaying its VISION-S concept EV at the last three CES conferences.

Honda announced earlier this year that it would develop EVs in collaboration with General Motors and begin production of two electric SUVs for Honda in 2024.

Source: The Week

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