The plan is to bring together Honda’s expertise in mobility development, technology and sales with Sony’s imaging, telecommunication, network and entertainment expertise.
A union of traditionally different manufacturing businesses is uncommon for
All the world's automakers have been developing zero-emissions electric vehicles, as concerns grow about pollution and climate change. But they face tough competition from relative newcomers like
The joint venture will develop and design the product, but will use Honda's plant for manufacturing. Sony, which makes the PlayStation video-game console and owns movie and music businesses, will develop the mobility services platform.
Honda makes the CR-V sport utility vehicle and Clarity plug-in hybrid and already has its own electric vehicle program, teaming up with
The joint venture with Sony will be separate, meant to produce unexpected value “in a chemical reaction,” said Honda Chief Executive
“We're so used to thinking within the category of autos, it's hard to think outside that box,” Mibe told reporters, while stressing that Honda will continue with its own EV program.
Sony showed an electric car concept at the CES gadget show in
The two executives, appearing together at a hastily called news conference in
Shares in both companies fell Friday, with Honda down 4.5% and Sony losing 3.2%.
Both Sony and Honda have humble beginnings in the 1940s when
Honda was founded by
Sony was founded by
Morita had market savvy while Ibuka was known for product development. In the 1970s when Sony was developing the Walkman portable audio player, some engineers were skeptical. But Morita insisted people would want to listen to music on-the-go.
“Although Sony and Honda are companies that share many historical and cultural similarities, our areas of technological expertise are very different,” Mibe said.
“I believe this alliance which brings together the strengths of our two companies offers great possibilities for the future of mobility.”
“Commitment at the top is important," said Yoshida. "We are committed to taking up this challenge together.”
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