Tokyo: Tech giant Sony and automaker Honda have joined hands to establish a new company that will engage in the sale of high-value-added electric vehicles (EVs) and provide services for mobility. The new company, which is named Sony Honda Mobility, will aim to bring together the expertise of Honda and Sony. Honda Cars Reports 13% Dip in Domestic Sales to 7,874 Units in April 2022.

"At the new company, we will strive to create new value through the fusion brought about by the combination of our different industries, so please look forward to future developments," said Toshihiro Mibe, Director, President, Representative Executive Officer and CEO, Honda Motor Co., Ltd.

"Based on our vision to 'make the mobility space an emotional one', Sony's initiatives in the mobility business are centred around the three areas of safety, entertainment and adaptability," Kenichiro Yoshida, Representative Corporate Executive Officer, Chairman, President and CEO, Sony Group Corporation, said in a statement.

"As we continue our learnings in these areas, we are excited to have met a partner, Honda, with extensive global achievements and knowledge, and to sign the joint venture agreement between the two companies," Yoshida added.

The new company will have Honda's cutting-edge environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology and after-sales service management experience.

It will also have Sony's expertise in the development and application of imaging, sensing, telecommunication, network and entertainment technology. Sony and Honda plan to establish the new company within 2022 and to begin the sale of EVs and provision of services for mobility in 2025.

(The above story first appeared on LatestLY on Jun 17, 2022 03:18 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).