Sony and Honda have agreed to set up a joint venture that will create a company with the aim to design, build and sell electric vehicles.
The plan brings together Honda’s expertise in mobility development, technology, manufacturing facilities and sales with Sony’s imaging, telecommunication, network and entertainment expertise.
Executives from both companies, who appeared together at a hastily called news conference in Tokyo, did not rule out a future stock listing of the joint venture.
“I believe this alliance which brings together the strengths of our two companies offers great possibilities for the future of mobility,” said Toshihiro Mibe CEO, Honda Motor Co., Ltd.
“Sony’s purpose is to fill the world with emotion through the power of creativity and technology,” said Kenichiro Yoshida President and CEO, Sony Group Corporation.
The first models will be available in 2025.