The announcement states that the joint company will be formed later this year, and that their first joint model will arrive on the market in 2025. The new company will plan, design, develop and sell electric vehicles, but will not own or operate production facilities.
Honda will make the first model in one of its factories, and Sony will develop a platform for services in the mobility segment.
“The new company will strive to be at the forefront of innovation, evolution and mobility expansion around the world thanks to a broad and ambitious approach to creating value that exceeds customer expectations and imagination,” said Honda President Toshihiro Mibe.
He said that Honda will use its modern technology and expertise when it comes to the environment and safety, and that the two companies will harmonize their technological resources.
Sony announced in January that it would enter the electric car market. He then unveiled a pair of unique electric vehicles and announced the launch of a company called Sony Mobility in the spring. One of the concept cars, the Vision-S, has already been tested on public roads.
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