Sony announced on Friday that it is partnering with Honda to form a new firm that would develop and market electric vehicles, marking the electronics giant’s latest foray into the fast-developing sector.
As worry about climate change grows, major global automakers are increasingly favoring electric and hybrid vehicles.
Sony’s statement follows the debut of a new prototype, the Vision-S electric vehicle, in January and the revelation that its new subsidiary Sony Mobility will look into entering the market.
Sony Group said in a statement Friday that the two Japanese names hope to establish their firm by the end of this year, calling it “a strategic alliance“.
“This alliance aims… to realize a new generation of mobility and services that are closely aligned with users and the environment,” Sony said in a statement.
Sales of their first electric vehicle are planned to begin in 2025, with Honda handling production while both businesses collaborate on design, technology, and sales.
“Although Sony and Honda are companies that share many historical and cultural similarities, our areas of technological expertise are very different,” Sony Group president Kenichiro Yoshida said.
“I believe this alliance which brings together the strengths of our two companies offers great possibilities for the future of mobility.”
At the moment, electric vehicles account for roughly 10% of European car sales, while they account for only 2% in the United States.
However, demand for electric vehicles is growing, and other major manufacturers, including Honda’s Japanese rivals, are spending money and resources on them.
Nissan stated earlier this year that it would offer 35 new electric cars by 2030, as part of a $25 billion investment in the area.
Toyota, the world’s most popular carmaker, recently increased its 2030 electric vehicle sales target by 75% in a more ambitious plan for the sector.
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