- A joint venture set up by Sony Group Corp (NYSE:SONY) and Honda Motor Co Ltd (NYSE:HMC) look to deliver its first electric vehicles by 2026 and sell them online, starting in the U.S. and Japan.
- They will price the new EV at a premium, offering a new software system developed by Sony that would open the way to recurring revenue from entertainment and other services for monthly billing, Reuters reports.
- On June 16, the companies agreed to establish Sony Honda Mobility Inc.
- Also Read: Tesla Model Y Becomes Bestselling EV In Germany
- Sony will provide the software system for the new car, from the onboard controllers to cloud-based services that will connect with entertainment and payment systems.
- It will also provide sensors and other technology for a Level 3 autonomous drive system, helping drivers to pay more attention to the content and software services.
- Honda will decide the platform the new vehicle will use and details like the battery supplier.
- The report added that Honda will manufacture the EV at one of its plants in Ohio.
- Yasuhide Mizuno, the joint venture's Chair and CEO, and a senior Honda executive said the project was important for Honda to develop a "longer-term relationship" with its car buyers as the vehicle shifts to more of a connected device.
- The new EV will be ready for the Japanese market in the second half of 2026. They also considered a launch for Europe.
- Orders for the new EV should open in 2025.
- Price Action: HMC shares closed lower by 0.73% at $21.76 on Wednesday.
- Photo Via Company
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
