Sony's CEO has confirmed that the partnership with Honda will be a standalone business. As the two companies prepare to collaborate on electric vehicles, the Sony group chairman said that the company's planned joint venture with Honda Motor may host a "public share sale" at some point in the future.
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Sony and Honda recently announced plans to jointly build electric vehicles, with Honda focusing on manufacturing and Sony creating the mobility. Now, it appears the companies are planning to make it a separate business. “We share the view that it is better to make the joint venture independent, in the long term, rather than placing it under Sony or Honda,” Sony President and CEO Kenichiro Yoshida told Nikkei.
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Yoshida did not provide further details, but said it is a “possibility” that the companies could sell a stake in the joint venture.
The companies announced the joint venture in March. Sony said its goal is to “fill the world with emotion through the power of creativity and technology,” likely through high-tech interiors and flashy infotainment systems. It added that it wants to create a mobility system “focused on safety, entertainment and adaptability.”
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Last year, Honda announced plans to shift its entire vehicle lineup to EVs and fuel-cell vehicles by 2040. As part of that, it will invest $40 billion and launch 30 new electric vehicles by 2030. It's not yet clear how Sony will fit into those plans, but Honda is far behind its rivals - the only true EV sold in the West is the niche, Europe-only Honda E.
Information source: engadget.com
