Japanese electronics giant Sony Group Corporation said that it has agreed with Honda Motor Co. Ltd. to make their upcoming electric vehicle (EV) joint venture independent of either company, according to a report by Nikkei Asia.
The upcoming EV joint venture between Sony and Honda will be a standalone entity
“We share the view that it is better to make the joint venture independent, in the long run, rather than putting it under Sony or Honda,” said Sony President, Chairman & CEO Kenichiro Yoshida. He adds that they are open to an initial public offering or even selling a stake to other companies.
Slated to be formalized by the end of the year, the partnership aims to produce and market its first EV by 2025. Honda will take up the hardware and safety aspects of the product, while Sony will take charge in developing both software and entertainment content.
Sony taking on content duties is in line with its long-term goal of attracting 1 billion customers to its services. The company’s entertainment arm has already eclipsed its traditional electronics business, contributing 51 percent to Sony’s total sales during the previous fiscal year. These comprise games and network services, movies, and music.
Sony is banking on the strides it has made in network connectivity, such as the Playstation 5 console
Yoshida has not disclosed what the joint venture’s structure and business model will look like, saying that both Sony and Honda are still ironing out the details. However, he did say that Sony wants to build on the success of the Aibo robotic dog and PlayStation game consoles by emphasizing network connectivity on the upcoming EVs.
Regarding companies from outside the auto industry that are now dabbling in the EV space, most notably Apple, Yoshida notes that competition is expected. At the same time, he hinted that Sony is open to collaborating with the American technology company in certain areas.
In contrast with its software role for EVs, Sony will bring its hardware expertise to the metaverse, where virtual reality and other interactive technologies are widely used. “The metaverse has the power to integrate games, music, and e-commerce,” said Yoshida, adding that devices such as immersive audio equipment and high-definition wearable displays are already in development.
See more updates on the merging of tech and mobility at Philkotse.com.
Know more about Honda
Honda Cars Philippines, Inc. (HCPI) has a total of 10 passenger cars with no commercial vehicle offerings for the local market.
Starting at Php 658,000 the most affordable Honda model in the Philippines is the Honda Brio, while the CR-V is the most expensive model at Php 2,290,000. The current lineup consists of four body types including crossover/SUV, sedan, hatchback, and MPV. Crossover/SUV includes Honda CR-V and Honda HR-V. As for the sedan models, HCPI offers the Honda City and Honda Civic. Moving to hatchbacks, there's the Honda Brio and Honda City Hatchback. Last but not the least is the Honda BR-V is classed as an MPV.
At Philkotse.com, we provide you with the most up-to-date Honda Cars Philippines price list, along with promotions from all dealers, the best monthly installment program, prepaid, and cash discount on the Philippine market.
For more information about the Honda Cars Philippines price list 2023, we listed down the details below.
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