Sony and Honda team up to develop and sell electric vehicles

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TOKYO, March 4 (Reuters) – Japan’s Sony Corp (6758.T) and Honda Motor Co Ltd (7267.T) said on Friday they would join forces to develop and sell battery-electric vehicles, as the manufacturer of electronics pursues its ambitions. become a key player in the new generation automobile.

The two companies said in a statement that they would form a joint venture this year and aim to start selling the first model in 2025.

Honda will be responsible for manufacturing the first model, while Sony will develop the mobility services platform, they said.

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The presidents of the two companies will hold a press conference in Tokyo at 5 p.m. (0800 GMT) on Friday.

Sony Chief Executive Kenichiro Yoshida announced plans in January to form a new company, Sony Mobility, saying he was considering a commercial launch of electric vehicles.

Although its once dominant position in consumer electronics has been eroded by Asian rivals like Samsung Electronics Co (005930.KS) in South Korea, Sony still has an arsenal of sophisticated technologies in areas such as sensors essential for autonomous driving.

The rapid shift in adoption of electric vehicles around the world, fueled by a global push to reduce carbon emissions, is creating opportunities for technology companies to join the automotive market, as these vehicles are easier to manufacture than cars with internal combustion engines.

At the same time, these tech companies face the challenges of adhering to stringent vehicle safety regulations and making cars capable of withstanding sometimes harsh driving conditions.

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Reporting by Satoshi Sugiyama; Editing by David Dolan, Christopher Cushing, Edwina Gibbs and Kenneth Maxwell

Our standards: The Thomson Reuters Trust Principles.


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