Honda and Sony actually build electric cars together20. June 2022
Honda and Sony actually build electric cars together
Sony has been talking about developing electric cars for a few years now and even unveiled a concept car at CES in January this year. In March, the interested public took note of the announcement of a joint venture between the two Asian corporations. Doubts were scattered. But now everything is signed and sealed. Under the new name Sony Honda Mobility Inc. they will jointly design and build electric cars. The first version will be available for sale in 2025.
Each company will contribute five billion yen ($37.52 million) in capital to Sony Honda Mobility, for a total of ten billion yen ($74 million), and both will have a 50 percent stake in the company.
Yasuhide Mizuno, a current Honda executive, will serve as CEO of Sony Honda Mobility, while Izumi Kawanishi, a Sony executive, will become COO of the joint venture.
Sony is not the first technology and electronics company to become an industry outsider to build electric cars. Rumor has it that Apple and BMW have been collaborating on an electric car project for years. And there are rumors that Hyundai is also still in the game. However, Sony is the first company to officially confirm that it wants to build and sell a production car. It has also given a release date. It’s easy to dismiss the claim that a tech company is building an electric car, but the partnership between Sony and Honda makes it true.
Honda has already announced plans to invest more than $37 billion in electric vehicle development and launch 30 all-electric vehicles worldwide within the next decade. At this point, it’s unclear if Sony Honda Mobility’s upcoming electric vehicles will be part of this expansion or if they will be proprietary vehicles, but it’s clear what each brand brings to the deal. Honda can bring all of its automotive expertise, while Sony will contribute digital technology. Honda knows how to make chassis, electric motors and cars that handle well. Sony is good at making digital imaging, mobility and telecommunications technologies.
When a new brand that isn’t a car brand announces it will build electric cars, most car enthusiasts roll their eyes so hard they can see their own brains. But Sony is doing it right by teaming up with Honda. Honda knows how to build a good car, and its expertise will enable Sony to deliver on its promise.