A strategic alliance in the mobility field

Published June 26, 2022, 9:13 AM

by Len Amadora

Sony and Honda sign joint venture agreement to establish new company

A joint venture agreement between Sony Group Corporation (“Sony”) and Honda Motor Co., Ltd. (“Honda”) was recently announced. The alliance is to establish a new company to engage in the sale of high-value-added electric vehicles (EVs) and provide services for mobility. The new company will aim to bring together Honda’s cutting-edge 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.

Plans to establish the company will be within 2022 and will commence 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.

New Company Overview (Planned)

Company name: Sony Honda Mobility Inc.

Location: Tokyo, Japan

Capital: 10 billion yen

Investment ratio: Sony Group Corporation 50%, Honda Motor Co., Ltd. 50%

Members of the board:

Yasuhide Mizuno, Representative Director, Chairman and CEO

Izumi Kawanishi, Representative Director, President and COO

Shugo Yamaguchi, Director and Deputy President Kojiro Okabe, Director and Executive Vice President Manabu Ozawa, Director (Honda Motor Co., Ltd.) Naoya Horii, Director (Sony Group Corporation)