Sony and Honda have both signed a new memorandum of understanding that will see the pair work together on developing new electric vehicles. The two companies will reportedly have cars ready to sell by 2025.
A new report by Nikkei Asia notes that the two companies held a news conference to confirm the deal.
“We have shared our desires to try something new… We are glad to find such a wonderful partner,” said Sony CEO Kenichiro Yoshida at a news conference held jointly with Honda CEO Toshihiro Mibe.
Notably, Mibe described the deal as an “open” partnership, one that would allow both companies to bring others on board while also expanding into other industries as they see fit. The deal will see Honda make vehicles and use their dealers for aftersales service, while Sony will be the company working on entertainment, network, and other features.
The move will see one of the world’s largest technology companies join forces with another that is already making some impressive cars. Deals like this are seen as a way for traditional car makers to stay relevant in a world where tech companies are becoming more and more important — something aluded to in the report and by Honda’s CEO.
Mibe said that the auto industry is facing a tipping point and is seeing traditional carmakers entering the EV segment in which many new entrants and startups are also vying for market share. New entrants including Google parent Alphabet and other tech giants have entered the business and startup companies such as Rivian in the U.S. are rapidly catching up with traditional carmakers.
All eyes will now be on the two companies and their new partnership to see where things go from here.
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Sony And Honda Agree To Work Together On New Electric Vehicles With Cars Available From 2025
Source: Sana All Philippines
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