Sony Group Corporation and Honda Motor Co., Ltd. signed a joint venture agreement to establish a new company to engage in the sale of high-value-added electric vehicles (EVs) and provide services for mobility.

The announcement is the furtherance and result of discussion of a strategic alliance in the mobility field between the parties as announced on 4 March 2022. (Earlier post.)

The new company will aim to bring together Honda’s environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology and after-sales service management experience, with Sony’s expertise in the development and application of imaging, sensing, telecommunication, network and entertainment technologies, to realize a new generation of mobility and services for mobility that are closely aligned with users and the environment, and continue to evolve going forward.

Sony and Honda plan to establish the new company within 2022 and to begin the sale of EVs and provision of services for mobility in 2025. The establishment of the new company and the start of business are subject to relevant regulatory approvals.