HIGHLIGHTS
- This is regarded as a “strategic alliance” between the two electronics and automobile manufacturing behemoths.
- Sony said that the joint venture will strive to create a new generation of electric car products and services that are “most responsive to users and the environment”.
- To alleviate the effects of climate change, major global automakers are progressively prioritizing the development of electric and hybrid vehicles.
- Honda confirmed that it will continue to develop its electric vehicles independently and will not sell future joint venture products under the Honda brand.
FULL ARTICLE
Sony and Honda are partnering on electric vehicle manufacture
Sony announced a collaboration deal with Honda to form a joint venture to build electric vehicles shortly after the unveiling of a new electric vehicle named the Vision-S earlier this year. Furthermore, Sony said that the joint venture will strive to create a new generation of electric car products and services that are “most responsive to users and the environment”. This is regarded as a “strategic alliance” between the two electronics and automobile manufacturing behemoths. Furthermore, Sony confirmed that its subsidiary Sony Mobility will enter this potential lucrative industry.
According to the current plan, the new joint venture will leverage Sony’s imaging, sensor, telecommunications, network, and entertainment capabilities. Furthermore, Sony will offer software for the joint venture’s EVs and wants to sell the system not only to Honda but also to other manufacturers.
Meanwhile, Honda will produce the vehicles for the joint venture company. The “new joint venture business” established by both will be in charge of everything from designing and developing electric vehicles to marketing them (EVs). Furthermore, Sony and Honda are also willing to attract more partners to this partnership, and the joint venture company’s stock exchange listing is a possibility in the future.
Honda President, Toshihiro Mibe, said, “Through a close connection, we hope to be a leader in innovation and progress in the world’s mobile sector.” Furthermore, he stated that the new company would not focus on sales but rather on “new values”.
Sony Chairman, Kenichiro Yoshida, also expressed optimism that the new joint venture between Sony and Honda will combine both companies’ capabilities, resulting in excellent consumer experiences.
The electric vehicle market is highly competitive
The collaboration between Honda and Sory is the latest event on the path to developing electric vehicles in the automotive sector, which is being accompanied by tightening rules throughout the world to curb carbon emissions.
To alleviate the effects of climate change, major global automakers are progressively prioritizing the development of electric and hybrid vehicles. Toyota Motor Corp., the world’s largest carmaker, has recently increased its efforts in all-electric vehicles. Nonautomakers, including as Apple Inc, are also exploring entering the potential market.
Furthermore, the new joint venture company will compete with industry leader Tesla. When the Renault-Nissan-Mitsubishi alliance announced a $25 billion investment in the electric sector earlier this year, it planned to launch 35 new electric vehicles by 2030.
More importantly, Honda confirmed that it will continue to develop its electric vehicles independently and will not sell future joint venture products under the Honda brand. However, in order to improve competition for Honda electric vehicles, the carmaker will embrace new technologies from the joint venture.
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