Sony and Honda plan to create a new electric vehicle company

The new company, created by Honda and Sony, will strive to be at the forefront of innovation, development and mobility worldwide. With these intentions and concern for the environment, the two brands will work together to develop electric vehicles.

Honda and Sony are two of the largest companies in Japan, and they are now merging to create a single electric vehicle manufacturing and sales company. The announcement was made today, March 4, and the company will be established by the end of this year with deliveries starting in 2025.

Specifically, the two companies have signed a memorandum of understanding outlining their intention to establish a joint venture with which they plan to develop and market high value-added battery electric vehicles and also sell them in combination with the provision of mobility services.

In this alliance, the two companies plan to combine the qualities of each company. Honda with mobility, bodybuilding technology and service management experience; and Sony with experience in the development and application of imaging, sensor, telecommunications, networking and entertainment technologies.

The joint work aims to achieve a new generation of mobility and services closely related to users and the environment.

"Sony's goal is to 'fill the world with excitement through the power of creativity and technology,'" said Kenichiro Yoshida, CEO, Chairman, President and CEO of Sony Group Corporation, in a press release. “Through this alliance with Honda, which over the years has accumulated extensive global experience and achievements in the automotive industry and continues to make revolutionary strides in this field, we intend to develop our vision of “make the mobility space emotional” and promote the development of mobility focused on safety, entertainment and adaptability.

The details of the deal are still being worked out and are subject to regulatory approval, the two firms said in a joint statement.