Sony said in January that it would create a car unit and explore entering the EV market.
Photo:
Alex Wong/Getty Images
Honda
HMC -2.63%
Motor Co. and
Sony
SONY -1.48%
Group Corp. said Friday they intend to jointly develop and sell electric vehicles, bringing together two of Japan’s biggest names in a field where the country has lagged behind.
Honda and Sony said they aimed to set up a joint venture this year and begin selling their jointly developed electric vehicles in 2025.
The joint venture won’t own its own auto factories, but instead outsource manufacturing to Honda, the companies said. Sony will supply expertise in sensing, communication and entertainment, they said.
Sony said in January that it would create a car unit and explore entering the electric-vehicle market. Japan’s leading auto makers, including Honda and
Toyota Motor Corp.
, have fallen behind rivals such as
Tesla Inc.
TSLA -4.61%
in the race to sell EVs.
Write to Kosaku Narioka at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
