Honda and Sony forming joint venture to build electric cars
JV will launch first electric car in 2025
Honda and Sony on Friday announced plans to form a new company together to build electric cars, starting in 2025.
Sony Group Corp.'s Chief Executive Kenichiro Yoshida and Honda Motor Co.'s Chief Executive Toshihiro Mibe have announced a joint venture to build electric cars together. (AP)
The first vehicles produced by the yet-to-be-named entity will be manufactured at a Honda factory and combine the automaker's vehicle expertise with a mobility platform of connected services designed by Sony.
Honda CEO Toshiro Mibe said the venture would create unexpected value "in a chemical reaction."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HMC | HONDA MOTOR CO. LTD. | 34.59 | +0.04 | +0.13% |
| SONY | SONY GROUP CORP. | 81.81 | +0.22 | +0.27% |
"We're so used to thinking within the category of autos, it's hard to think outside that box," he said.
Sony has previously revealed a prototype electric SUV and sedan. (Sony)
Sony has displayed prototype vehicles of its own design in the past to CES events.
Sony's mobility platform uses 40 sensors located in and around the vehicle. (Sony)
The Vison-S sedan and Vision S 02 SUV were around the same midsize platform powered by an 536 hp, all-wheel drivetrain and equipped with 40 sensors inside and around the car, including a camera that can read lips that the infotainment system can use to recognize commands.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
A price target for the launch vehicle was not announced.
Honda said it will continue to pursue its independent electric car program alongside the new project.