signed a memorandum of understanding to form a joint venture to manufacture and sell EVs. The joint venture will see the two companies combining their expertise from their respective fields.
Honda CEO Toshihiro Mibe was asked during a news conference if this joint venture between Sony and Honda is exclusive. He replied saying they are open to bringing in other companies, but at the moment, they wish to just focus on developing the EV model.Sony knows manufacturing vehicles is difficultshown off two concept vehicles during CES 2022
However, Sony has minimal experience in manufacturing vehicles and is not well versed with automotive regulations set by each market. So, it hopes that by partnering with an established automaker like Honda, it will be able to get its EV business off the ground much more rapidly. The MOU outlines that Honda will provide the skills, experience, and tools needed to manufacture the vehicles.