Honda and Sony’s EV joint venture could create a new independent company

An upcoming joint venture between Sony and Honda could create an independent company that will be publicly listed.

The two Japanese companies are expected to finalize a joint venture to co-develop electric vehicles by the end of this year. Honda will make the first EV in 2025 and provide hardware and security features for it. Sony will create software and entertainment content for cars.

Speaking recently, Dr. NikkeiKenichiro Yoshida, Sony’s chairman, president and chief executive, said both companies agreed that it would be best to build the joint venture as a separate entity.

Read more: Sony and Honda partner to bring EVs to market by 2025

“We share the view that it is better to make the joint venture independent in the long run than to keep it under Sony or Honda,” Yoshida said. Asked if this meant an initial public offering on the card, Sony’s CEO said, “It’s a possibility.”

Yoshida added that Sony “wants to contribute to the evolution of mobility by providing the basis for network functions.” He said discussions on the business model of the enterprise are still ongoing.

Honda and Sony signed a memorandum of understanding to establish an EV joint venture in early March. The new company has not yet been named, and it is unclear whether the Sony Vision-S01 sedan and Vision-S2 SUV concepts will influence the design of future models developed alongside Honda.

“Sony’s goal is to ‘fill the world with emotion through the power of creativity and technology,'” Yoshida said when the joint venture was first announced. “Through this partnership with Honda, which has accumulated many years of global experience and achievements in the automobile industry and continues to make revolutionary progress in this area, we want to build our vision of ‘making mobility space an emotional one.’ And contributes to the evolution of mobility centered around security, recreation and adaptability. “

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