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. Todays 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 Hondas cutting-edge environmental and safety technologies, mobility development capabilities, vehicle body
manufacturing technology and after-sales service management experience, with Sonys 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)
||Sony Honda Mobility Inc.|
||10 billion yen|
||Sony Group Corporation 50%, Honda Motor Co., Ltd. 50%|
Members of the board:
Yasuhide Mizuno, Representative Director, Chairman and CEO
Izumi Kawanishi, Representative Director, President and COO
Shugo Yamaguchi, Director and Deputy President
Director and Executive Vice President
Manabu Ozawa, Director (Honda Motor Co., Ltd.)
Naoya Horii, Director (Sony Group Corporation)
Comment from Kenichiro Yoshida, Representative Corporate Executive Officer, Chairman, President and CEO, Sony Group
Based on our vision to make the mobility space an emotional one, Sonys 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 Hondas 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.