Two Japanese juggernauts are teaming up to sell electric vehicles starting in 2025.
Honda and Sony announced a new joint venture named Sony Honda Mobility back in March but made it official this week.
Each company will invest 5 billion yen ($37.52 million) into the company.
In terms of board members:
- Yasuhide Mizuno will be Sony Honda Mobilities Chairman and CEO. He is currently a senior Honda executive.
- Izumi Kawanishi will be the new joint venture’s President and Chief Operating Officer. He is currently an Executive Vice President at Sony.
As per the announcement, the new joint venture will allow the two companies to bring their expertise to these vehicles.
Honda brings their expertise in building and selling vehicles, while Sony brings its expertise in technology and software.
Sony Honda Mobility represents one of the few new moves that Honda is undertaking.
We reported that Honda and General Motors were expanding their EV partnership in April. This partnership would allow the two companies to develop a series of low-cost EVs on a joint platform.
Furthermore, Honda is also working towards a 2030 goal which would see them roll out 30 EV models and have 2 million annual EV sales.
This new partnership seems exciting, and it will be interesting to see what Sony brings in terms of tech and software to the vehicle.