Sony and Honda have unveiled the name of their joint venture just over a week after the Japanese conglomerates confirmed their plans to form an independent electric vehicle manufacturer: Sony Honda Mobility Inc. Each entity will own an equal 50% stake in the newly-formed venture, according to a press release from both companies.
Honda’s Yasuhide will serve as Chairman and Chief Executive Officer, while Sony’s Izumi Kawanishi will serve as President and Chief Operating Officer. Sony Honda Mobility Inc. will be incorporated in Tokyo prior to the end of the year and sales of its production vehicles will begin in 2025.
“Based on our vision to ‘make the mobility space an emotional one,’ Sony’s initiatives in the mobility business are centered around the three areas of safety, entertainment and adaptability,” said Sony CEO Kenchiro Yoshida. “As we continue our learnings in these areas, we are excited to have met a partner, Honda, with extensive global achievements and knowledge, and to sign the joint venture agreement between the two companies. Going forward, we aim to contribute to the evolution of mobility by combining Honda’s cutting-edge environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology and after-sales service management experience, with our expertise in imaging, sensing, telecommunication, network and entertainment technologies.”
In other news, Rivian lands $1.5B incentives package to build massive EV factory in Georgia.