Two industry giants, Sony and Honda, announced the creation of Sony Honda Mobility Inc. A new electric vehicle joint venture to begin selling high value-EVs and services for mobility in 2025.
The new joint venture agreement follows an initial announcement by the companies in March. The announcement was made on the company’s respected social media channels that they had begun to explore the formation of an alliance for the joint development and sales of high-value battery-electric values and to provide mobility services.
Sony & Honda Join Hands
The deal followed the launch by Honda last year. During incoming CEO Toshihiro Mibe’s inaugural press conference. The press conference included a series of environmental and safety goals, including targets to achieve carbon neutrality across products and operations—zero auto and motorcycle collision fatalities by 2050. As well as plans to make battery-electric and fuel cell electric vehicles represent 100% of its vehicle sales by 2040.
The venture brings together each company’s expertise and technology capabilities. Including “environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology and after-sales service management experience” from Honda. Along with Sony’s “imaging, sensing, telecommunication, network and entertainment technologies.”
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Company Ownership
The new company will be led by senior Honda executive Yasuhide Mizuno, who will take on the role of Chairman and CEO, along with Sony EVP Izumi Kawanishi as President and COO.
According to Kenichiro Yoshida, Chairman, President and CEO, Sony Group Corporation,
”Based on our vision to `make the mobility space an emotional one,’ Sony’s initiatives in the mobility business are centred around the three areas of safety, entertainment and adaptability. As we continue learning in these areas, we are excited to have met a partner, Honda, with extensive global achievements and knowledge, and to sign the joint venture agreement between the two companies.”
Senior Honda executive Yasuhide Mizuno in a statement, said,
“We are very excited to sign this joint venture agreement. This represents the start line from which we embark on the major challenge of revolutionising mobility and creating new value. We plan to fully leverage the technological assets the two companies possess in different fields. Including Sony’s sensing technology and Honda’s original mobility development capabilities to realise mobility and services that inspire and excite our customers. By bringing together the expertise of both companies, we aim to lead the way in a new era.”
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