Sony and Honda's new EV business is called Sony Honda Mobility Inc.

Sony is teaming with Honda to form a separate company for their blossoming joint electric vehicle partnership, announcing today that the company is called Sony Honda Mobility Inc.

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Sony Honda Mobility Inc. will be based in Tokyo, with operations expected to kick off later this year, while the first electric vehicle from the two Japanese companies won't hit the streets until 2025. Sony and Honda each have an equal 50% share of the company, with Honda executive Yasuhide Mizuno appointed chairman and CEO, and Sony EVP Izumi Kawanishi president and COO.

In a new press release on Sony's website, the company explained: "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".

Sony has said that the partnership will use "Honda's cutting edge environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology, and after-sales service management experience".

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Kenichiro Yoshida, Representative Corporate Executive Officer, Chairman, President and CEO, Sony Group Corporation said: "Based on our vision to 'make the mobility space an emotional one,' Sony's initiatives in the mobility business are centered around the three areas of safety, entertainment and adaptability. 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. Going forward, we aim to contribute to the evolution of mobility by combining Honda's cutting-edge environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology and after-sales service management experience, with our expertise in imaging, sensing, telecommunication, network and entertainment technologies"

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Toshihiro Mibe, Director, President, Representative Executive Officer and CEO, Honda Motor Co., Ltd said: "Honda continues to take on new challenges in the environmental, safety, and other advanced fields in order to be a driving force for social change through mobility, and 'become the power that supports people around the world who are trying to do things based on their own initiative.' We are very pleased to have signed a joint venture agreement with Sony, which has strengths in advanced digital technology, and shares our desire to take on new challenges. Since its announcement in March, many people have expressed their expectations for this joint venture. 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".