Honda and Sony have collaborated to develop EVs, and the first model is scheduled to be launched in 2025!
- In 2025, the Japanese behemoths want to begin selling their first automobile.
- Sony has joined the ranks of other IT corporations that have entered the electric vehicle market.
Honda and Sony have teamed together to develop electric vehicles, hoping to use their capabilities as future automobiles grow more technologically advanced and connected.
According to a statement released Friday, the partners aim to launch a new firm together this year, with car sales expected to begin in 2025. They didn’t say how much the deal was worth.
The Japanese team joins a crowded competition that includes Tesla Inc. and Volkswagen AG, as well as tech behemoths like Xiaomi Corp. of China and Foxconn Technology Group of Taiwan. Sony has access to Honda’s decades of experience in automobile manufacture, sales, and service, while Honda may benefit from Sony’s expertise in entertainment, networking, and sensors for autonomous vehicles.
In January, Sony showed a prototype of an SUV-style electric vehicle as part of its new arm Sony Mobility Inc., which would look into prospective collaborations in the production and distribution of Sony-branded vehicles. The concept automobile, which was created in partnership with auto industry companies such as Magna International Inc. and Robert Bosch GmbH, exhibited Sony innovations in the areas of entertainment and sensors.
The entertainment firm is also a pioneer in the development of sensors for self-driving and self-aware cars, a rapidly expanding area of its image business that encompasses the majority of the world’s smartphones and digital cameras.
Sony’s stock slumped 3.2 percent in Tokyo on Friday afternoon, while Honda’s stock dropped 4.5 percent.
Honda was the first Japanese carmaker to officially say that it intends to phase out gasoline-powered vehicle sales entirely by 2040. Toshihiro Mibe, Honda’s CEO, stated last year in an interview that the business will seek collaborations to achieve the ambitious transition to electric vehicles because “it would be very dangerous for Honda to pursue the move alone.”
The business has previously partnered with GM to produce two electric vehicles that will be launched in the United States in 2024. In the next four years, the Japanese carmaker wants to debut ten new cars in China, the world’s largest EV market, and deepen its partnership with premier battery manufacturer Contemporary Amperex Technology Co. Ltd.
According to Nikkei, Honda plans to boost its Chinese EV sales to 800,000 units by 2030, up from around 10,000 last year.
Honda said earlier Friday that it will issue $2.75 billion in dollar-denominated green bonds to fund environmental projects, including the development of electric vehicles. According to statistics, Honda’s first green bond sale is one of the largest ever issued by a firm in the US high-grade market.
From Xiaomi to Foxconn, tech giants have branched out into electric vehicles to broaden their product lines beyond smartphones and computers. Apple Inc.‘s plans for an electric automobile have been closely studied, with an article reporting in November that the world’s largest technology company is speeding up research.