First Sony-Honda EV Arrives In Three Years
The Japanese giants have officially inked the agreement to create an equally-shared joint venture.
Let’s rewind the clock a bit, specifically to March 4, 2022. That’s when two of the most renowned Japanese marques – Honda and Sony – inked a Memorandum of Understanding (MOU). The agenda was to deepen the discussion and exploration of forming a joint venture (JV) that would develop, sell and service high-end electric vehicles (EVs).
It seems both players are stoked about the idea, and things are really picking up the pace. They’ve now moved forward and inked an agreement to form an equally-shared JV. The new company – Sony Honda Mobility Inc. – will be headquartered in Tokyo with a capital investment of 10 billion yen. That’s just over 74 million USD at current exchange rates.
Of course, Honda and Sony will infuse the best they offer to make a mark in the EV-making market. The former, as we know, is known globally for its vehicle development and manufacturing capabilities. In contrast, the latter will tap on its vast experience in imaging, sensing, telecommunication and entertainment technologies.
A fact remains. Honda was late to join the battery-electric vehicle game. That’s one area where most players are pumping in money and manpower. Honda will be flexing its muscles in that space. A large-size platform, mainly for North America, will be introduced in 2026. That will be followed by a mid-size architecture the next year in collaboration with General Motors. After that, for Asian markets, a small-size platform will debut.
However, there’s one EV segment where the Japanese carmaker has ample experience – FCEV (Fuel Cell Electric Vehicle). It stunned the world with the first mass-produced Hydrogen-powered vehicle. Although riddled with challenges, FCEVs show immense promise as a sustainable mobility solution.
The JV will be established before 2022 comes to a close. However, it will begin the sale of EVs and provide related services only in 2025. Furthermore, the new company will not own or operate manufacturing facilities, so Honda will assign one of its plants the production responsibilities. In short, we’re not that far away from seeing a Sony-Honda zero-emissions vehicle running on the streets and giving a fight to the likes of Mercedes-Benz, BMW, Tesla and Cadillac.
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