Sony & Honda seek to turn their EV agreement into a standalone business

• Sony and Honda seek to turn their electric vehicle collaboration into a standalone business.
• ‘It is better to make [it] independent… rather than placing it under Sony or Honda.
• As part of that, it plans to invest $40 billion and launch 30 new electric vehicles by 2030.

Sony and Honda recently announced plans to collaborate on the development of EV electric vehicles, with Honda focused on manufacturing and Sony developing the mobility service platform. It appears that the corporations intend to turn it into a distinct business. “We shared the view that it is better to make the joint venture independent, in the long run, rather than putting it under Sony or Honda,” Sony President and CEO Kenichiro Yoshida told Nikkei.

Yoshida did not reveal any specifics, but did state that the corporations may sell a stake in the joint venture or conduct an initial public offering. “I hope to be able to talk a little about it at some point in the near future,” he added.

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The corporations announced their collaboration in March. Sony said it aimed to “fill the world with emotion through the power of creativity and technology,” likely via high-tech interiors and fancy entertainment systems. It added that it wants to create a mobility system “centred around safety, entertainment and adaptability.”

Honda announced intentions last year to transition its entire car lineup to EVs and fuel-cell vehicles by 2040. As part of that, it plans to invest $40 billion and launch 30 new electric vehicles by 2030. It’s unclear how the Sony partnership will fit into those goals, but Honda is well behind competitors – its only true EV offered in the West is the niche, Europe-only Honda E.

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Sony evidently hopes that other tech giants, such as Apple, will soon join the race, and that EVs, like game consoles and the company’s Aibo robot dog, will become increasingly connected. “Mobility is becoming more of a service,” he said. “By supplying the foundation with network services, we hope to contribute to the evolution of mobility.”

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