Article by: Ayesha

Sony Group and Honda announced on Thursday, June 16, 2022 that they have signed a joint venture agreement for the sale of EVs

Sony and Honda's new company, concretely

Sony Group and Honda announced on Thursday, June 16, 2022 that they have signed a joint venture agreement for the sale of EVs (electric vehicles) and the establishment of a new company that develops services for mobility. It is a more concrete form from the partnership agreement in March.

The new company is Sony Honda Mobility Co., Ltd. The capital is 10 billion yen, and the investment ratio is 50:50 for Sony and Honda. Yasuhide Mizuno from Honda was appointed Chairman and CEO, and Izumi Kawanishi from Sony was appointed as Chairman and CEO and COO. The officers are also composed of Sony and Honda.

The new company will be established throughout 2022, and the sales of EVs and services for mobility are scheduled to be launched in 2025. In addition, the establishment and start of a new company are subject to obtaining permission from the relevant authorities.