Electronics and mobile phone company, Sony, and automobile maker, Honda, have announced they have signed a “memorandum of understanding” that they’ll establish a new company to build electric vehicles together.
Leveraging on the strengths of each brand, the new EV brand of electric vehicles will be powered by mobility service platform to be developed by Sony and manufactured in Honda’s facilities. The new company is not expected to own and operate manufacturing facilities.
The new company will “plan, design, develop, and sell the EV”. The formal announcement of the partnership between Sony and Honda states that the new joint venture will be established in 2022 and we can expect the first electric vehicle model to be released in 2025.
It is not clear yet what the new joint venture will be called. Details will emerge in the course of the year. Sony and Honda are two high profile brands in their respective industries, and lovers of both brands will excitedly anticipate their first EV release.