Japanese multinational companies Sony and Honda recently signed a joint venture agreement to establish Sony Honda Mobility, which is expected to sell electric vehicles and provide mobility services by 2025. 

Sony Group and Honda Motor will each hold 50% of the upcoming Sony Honda Mobility, which will be located in Tokyo with an initial capitalisation of JPY 10 billion ($74.45 million). The official establishment of this joint venture is still subject to regulatory approvals, according to Sony, and they plan to finish the establishment within the year, Kallanish notes. 

Consistent with previous statements made when the two signed a memorandum of understanding, this joint venture is expected to be a collaborative effort which brings together the resources and strengths of both companies.

Sony says: "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."

Earlier this month, when visiting one of Honda's plants, Sony ceo Kenichiro Yoshida mentioned that the first EV the two would collaborate on could be a high-end model featuring entertainment features with extra costs. Yoshida believes vehicles will transition from a one-time product to a continuous model, and Sony would like to provide the software support for automotive companies, according to Global Business Outlook. 

In April, Honda announced that it will invest about JPY 5 trillion in electrification and the software field. It plans to release about 30 battery electric vehicle models through 2030.  

So far, there is no clear indication on the EV battery supplier.