Sony Group Corporation
Honda Motor Co., Ltd.
Sony and Honda Sign Joint Venture Agreement to
Establish New Company,
“Sony Honda Mobility Inc.”, to Engage in Mobility
Business
June 16, 2022, Tokyo, Japan – Sony Group Corporation (“Sony”)
and Honda Motor Co., Ltd. (“Honda”) announced today that they have
signed a joint venture agreement to establish a new company to
engage in the sale of high-value-added electric vehicles (EVs) and
provide services for mobility. Today’s announcement is the
furtherance and result of discussion of a strategic alliance in the
mobility field between the parties as announced in the joint press
release entitled “Sony and Honda Sign Memorandum of Understanding
for Strategic Alliance in Mobility Field” on March 4,
2022.
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 and Honda plan to establish the new company within 2022 and to
begin the sale of EVs and provision of services for mobility in
2025. The establishment of the new company and the start of
business are subject to relevant regulatory approvals.
New Company Overview (Planned)
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Company name:
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Sony Honda Mobility Inc. |
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Location:
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Tokyo, Japan |
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Capital:
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10 billion yen |
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Investment ratio:
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Sony Group Corporation 50%, Honda Motor
Co., Ltd. 50% |
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Members of the board:
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Yasuhide Mizuno, Representative Director, Chairman and CEO
Izumi Kawanishi, Representative Director, President and COO
Shugo Yamaguchi, Director and Deputy President
Kojiro Okabe, Director and Executive Vice President
Manabu Ozawa, Director (Honda Motor Co., Ltd.)
Naoya Horii, Director (Sony Group Corporation)
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Comment from Kenichiro Yoshida, Representative Corporate
Executive Officer, Chairman, President and CEO, Sony Group
Corporation
“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.”