Honda and Sony Could Form a Standalone Company for Joint EV Venture

Honda and Sony Could Form a Standalone Company for Joint EV Venture

Honda will build the first vehicle using a platform developed by Sony.

Electronic companies are now making cars. Although the future of the Apple car remains elusive, Japanese tech giant Sony has begun to move forward with Honda, a Japanese car company. In March , Honda and Sony revealed their plans to form a joint venture for the development of EVs. Both companies now agree that the joint venture will be more successful if it is an independent company.

Honda and Sony Could Form a Standalone Company for Joint EV Venture

Kenichiro Yoshida, Sony President and CEO, stated that they agreed it was better to keep the joint venture separate than keeping it under Sony or Honda. Nikkei Asia .
Yoshida did not disclose details about the plan, despite Yoshida mentioning that the joint venture might have an initial public stock offering. Nikkei Asia reports that the sale of stake supports the plan for a separate company.

The previous announcement stated that the plan was to produce and sell the electric vehicle by 2025. Honda will build the vehicle in one of its factories. Sony will develop and provide the platform for the automaker. It is not clear if the Honda-Sony Electric Vehicle (EV) will be linked to the Vision S concepts.

Honda and Sony Could Form a Standalone Company for Joint EV Venture

Sony already has two concept EVs in its lineup, the Vision S sedan, and the Vision -S SUV. Magna Steyr and Bosch were involved in the creation of both vehicles. On paper, the Sony EV concepts seem promising. The combined output of the two electric motors is 536 horsepower (400 megawatts). The SUV will hold seven people while the sedan is four-seat.