Honda Motor took its latest step into the transportation mobility sector, penning a deal to form a joint venture with Sony Group to produce electric vehicles and related technologies.
The companies expect to form Sony Honda Mobility later this year with initial vehicles and mobility services due in 2025. The 50:50 JV is set to have capital of JPY10 billion ($74.2 million) and a six-member board.
Sony Group representative corporate executive officer, chair, president and CEO Kenichiro Yoshida, stated the partnership with Honda advances the electronics giant’s mobility initiatives spanning “safety, entertainment and adaptability”.
The executive explained the JV would combine Honda’s expertise in “environmental and safety technologies, mobility development”, bodywork manufacturing and sales nous “with our expertise in imaging, sensing, telecommunication, network and entertainment”.
Honda and Sony assert the combination will deliver a range of mobility-related technologies and services which “are closely-aligned with users and the environment, and continue to evolve”.
Honda teamed with SoftBank Corp in 2021 to trial standalone 5G for cellular vehicle-to-everything (C-V2X) uses, while rival Japanese automotive giant Nissan turned to US operator Verizon for a similar trial.
Toshihiro Mibe, director, president, representative executive officer and CEO of Honda, explained it will benefit from Sony’s “strengths in advanced digital technology” through the JV.Subscribe to our daily newsletter Back