Sony and Honda today announced that they have agreed to deepen discussion and exploration of forming a strategic alliance aiming to create new mobility services and products.
The two Japanese companies will set up a joint venture this year, the ownership structure of the planed new company has not jet been specified. According to the press release Sony and Honda plan to engage in the joint development and sales of high value-added battery electric vehicles (EVs) with the intent that their first EV will be on the market in 2025.
The alliance aims to bring together Honda’s mobility development capabilities, vehicle body manufacturing technology and after-sales service management experience, with Sony’s expertise in the development and application of imaging, sensing, telecommunication, network, and entertainment technologies, to realize a new generation of mobility and services that are closely aligned with users’ needs.
The joint venture is expected to plan, design, develop, and sell the EVs, but not own and operate manufacturing facilities, so Honda is expected to be responsible for manufacturing the first EV model at its vehicle manufacturing plant. The conception aligns with Sony‘s earlier statements that the company doesn’t want to amass hard assets and engaged in EV production as it expands its investments in the mobility sector.