Sony, Honda In Deal To Form New JV To Develop High Value-added Battery EVs

Consumer electronics major, Sony Group Corporation, and automaker Honda Motor Co., Ltd (HMC), have inked a memorandum of understanding or MoU, to form a joint venture or JV, to make and sell high value-added battery electric vehicles or EVs, the companies said in a statement on Friday.

Honda Motor will be responsible for manufacturing the first EV model at its automotive plant, whereas Sony will develop a mobility service platform for the JV.

According to the MoU, both the parties will engage in negotiations to establish the new firm later this year. Sales of the first EV model are anticipated to begin in 2025.

"…Through this alliance with Honda, we intend to build on our vision to 'make the mobility space an emotional one,' and contribute to the evolution of mobility centered around safety, entertainment, and adaptability," Sony said in a statement.

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