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Sony, Honda Sign JV Agreement for New Mobility Business

The new company, Sony Honda Mobility, Inc., will engage in the sale of EVs and provide services for mobility.

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Sony Group Corporation (“Sony”) and Honda Motor Co., Ltd. (“Honda”) announced they have signed a joint venture agreement to establish a new company, Sony Honda Mobility, Inc., to engage in the sale of electric vehicles (EVs) and provide services for mobility.

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Sony and Honda plan to establish the new company in 2022, subject to relevant regulatory approvals, and begin the sale of EVs and provide services for mobility in 2025.

The new company will bring together Honda’s cutting-edge environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology and after-sales service management experience, with Sony’s expertise in the development and application of imaging, sensing, telecommunication, network and entertainment technologies, to realize a new generation of mobility and services for mobility that are closely aligned with users and the environment, and continue to evolve going forward, the companies say.

“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 Kenichiro Yoshida, representative corporate executive officer, chairman, president and CEO, Sony Group Corporation. “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.”

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“Honda continues to take on new challenges in the environmental, safety, and other advanced fields in order to be a driving force for social change through mobility, and ‘become the power that supports people around the world who are trying to do things based on their own initiative,” said Toshihiro Mibe, director, president, representative executive officer and CEO, Honda Motor Co., Ltd. “We are very pleased to have signed a joint venture agreement with Sony, which has strengths in advanced digital technology, and shares our desire to take on new challenges. Since its announcement in March, many people have expressed their expectations for this joint venture. At the new company, we will strive to create new value ​​through the fusion brought about by the combination of our different industries, so please look forward to future developments.”

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