Sony and Honda team up to develop electric vehicles

Sony and Honda said on Friday they would team up to develop and sell battery-powered electric vehicles, and said they were open to bringing in other partners.

The companies said in a statement that they will 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.

“At the joint venture, we would like to lead the evolution of mobility by combining our technology and expertise with Honda’s long experience in mobility development and body manufacturing technologies,” said Sony Chief Executive Kenichiro Yoshida.

The companies did not disclose financial details of the partnership.

During a press conference in Tokyo on Friday, Honda Chief Executive Toshihiro Mibe said that while he is not considering taking the joint venture public immediately, he would not rule it out as one of the options for expanding the company.

Asked if the partnership between the two companies is exclusive, Mibe said he is open to bringing in other companies as he wants to focus on developing the electric vehicle model for now.

The announcement comes as the electronics maker seeks to advance ambitions to become a key player in the next generation of automobiles, as automakers such as Honda are under pressure to make carbon-free cars as well as vehicles equipped with features beyond of traditional means of transport.

Competition in the electric vehicle market is also intensifying. Asked how the joint venture would face challenges from competitors, Mibe said he wants to “create a chemical reaction” that exceeds customer expectations.