Sony Group Corporation and Honda Motor Co., Ltd. have signed a joint venture agreement to establish a new company – Sony Honda Mobility Inc. – this year to sell high-value-added electric vehicles (EVs) and provide services for mobility.

Headquartered in Tokyo and owned equally by Honda and Sony, the new company intends to combine Honda’s mobility development capabilities with Sony’s technologies, beginning sales of EVs and mobility services in 2025.

The companies set the stage for the strategic alliance in the mobility field in a March 4 announcement.

“Going forward, we aim to contribute to the evolution of mobility by combining Honda’s 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,” said Kenichiro Yoshida, chairman, president and CEO, Sony Group Corporation.

“Since its announcement in March, many people have expressed their expectations for this joint venture,” said Toshihiro Mibe, Honda Motor president and CEO. “At the new company, we will strive to create new value through the fusion brought about by the combination of our different industries, so please look forward to future developments.”