Honda and Sony are teaming up to develop EVs

Honda will bring its expertise in building and selling cars and Sony will add its software and technology proficiency

Two of the biggest Japanese companies have come together to make EVs, they are planning to sell their first car by 2025. Honda, like Toyota Motor, has been slower to move to electric vehicles (EV) than global automakers and is feeling the squeeze from investors to make vehicles that are carbon-free and have innovations like self-driving. The carmaker, which just offers one EV, Honda e, has said it intends to carry out 30 EV models and make approximately 2 million EVs yearly by 2030.

The joint venture, first declared in March and named Sony Honda Mobility, Honda will bring its skill of building and selling vehicles and Sony will add its software and battery innovations, the organisations said in a statement on Thursday. Each company will contribute 5 billion yen ($37.52 million) to the joint venture.

“In the joint venture, we would like to lead the mobility evolution by combining our technology and experience with Honda’s long experience in mobility development and vehicle body manufacturing technologies,” Sony CEO Kenichiro Yoshida said.

Asked whether the partnership between the two companies is exclusive, Mibe said they are open to bringing in other companies while wanting to focus on developing the electric vehicle model for now.

“In the future, we would like to expand our business with an open mindset,” Mibe said, adding Honda will continue to develop its own electric vehicle strategy separate from the joint venture.

Senior Honda executive Yasuhide Mizuno will act as the joint venture’s director and CEO, and Izumi Kawanishi, an executive VP at Sony, will be the president and chief operating officer. Honda, the maker of famous models like Accord and Civic, is managing a difficult period as expenses of components have surged and a global chip shortage slows production.

Earlier this year, the company said it would develop a series of lower-priced EVs with General Motors, based on a new joint platform, expanding on plans for GM to begin building two electric SUVs for Honda starting in 2024.

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