Although Honda is not thinking about taking the joint venture public immediately, the company would not dismiss that as among the options to grow the firm
In an effort to boost the growth of electric vehicles internationally, the Japanese international car maker Honda and another giant Sony Corp stated that they will jointly sell and develop vehicles backed by batteries. The companies also highlighted that in order to meet the mission, they might associate with other companies. As per media reports, the amalgamation of both the companies is expected to happen this year and it is looking forward to sell its EV by 2025.
In an interaction with global media, the company spokesperson said that Sony will build the mobility podium of the vehicles, while Honda will bear the responsibility of manufacturing the cars. While questioned about the financial details, both companies are yet to disclose its investment amount. In a media conference on Friday in Tokyo, Toshihiro Mibe, CEO of Honda, said "Although Honda is not thinking about taking the joint venture public immediately, the company would not dismiss that as among the options to grow the firm."
The announcement of this joint venture appeared because electronics manufacturers are looking forward to extend their mission and vision of turning out to be an imperative player in the next-generation automobiles, while giant automobile firms like Honda are now under immense pressure to manufacture pollution free vehicles, while will also be furnished with numerous top-notch features beyond the conventional means of transportation. In this context, Mibe also added that in the coming years, they would prefer to enlarge their business with an open mind. Honda will continue to perk-up its own strategy of electric vehicles apart from this amalgamation.
Going forward, Kenichiro Yoshida, CEO, Sony said "In the joint venture, we would like to lead the mobility evolution by combining our technology and experience with Honda's long experience in mobility development and vehicle body manufacturing technologies.
