Honda Motor and Sony Group Corp officially launched a joint venture to build and sell electric vehicles (EVs) yesterday.
The newly formed company goes by the name of Sony Honda Mobility Inc, “and will engage in the sale of high value added (EV) electric vehicles and provide mobility services.”
The new company plans to start selling the cars in 2025. L‘commitment of both companies to the joint venture is 5 billion yen ($ 37.52 million).
Honda, like Toyota Motor’s biggest rival, has lagged behind automakers in switching to electric vehicles. And it faces pressure from investors to produce zero-emission cars that include new technologies such as autonomous driving.
Honda currently offers only one EV, the Honda e, but plans to launch 30 electric models. At the same time, it aims to produce around two million electric-powered cars per year by 2030. Honda announced last year that it will by 2040 would only sell battery-powered and hydrogen-powered electric vehicles.
Honda’s longtime executive, Yasuhide Mizuno, will be the president and CEO of the new company.
“We plan to take full advantage of the technological assets that the two companies possess in a variety of fields, such as Sony’s sensing technology and Honda’s original mobility development capabilities, to deliver mobility and services that inspire and excite our customers,” Mizuno said. “By bringing together the expertise of both companies, we aim to pave the way for a new era”.
Sony Vision-S 02 could be the first car of the joint venture with Honda
Sony unveiled its electric Vision-S electric concept car at the Consumer Electronics Show (CES) in 2020. The car featured a number of sensors and other technologies.
The tech giant returned to CES 2022 with the concept SUV Vision-S 02. On that occasion he announced that he would put the car into production this year through a new commercial entity. Vision-S 02 was presented with all-wheel drive and 536 cavalli, but no details on battery capacity or autonomy were provided.
A partnership between Honda and General Motors Company was also announced to produce electric vehicles in 2023 and 2024.