The forthcoming joint venture between Sony and Honda could spawn an independent company that will be listed publicly.
The two Japanese companies are expected to finalize a joint venture by the end of this year with the aim of co-developing electric vehicles. Honda will produce the first EV in 2025 and provide the hardware and safety features for it. Sony will then develop the software and entertainment content for the vehicle.
While recently speaking with Nikkei, Sony chairman, president and chief executive Kenichiro Yoshida said both companies agree it will be best to make the joint venture a separate entity.
Read More: Sony And Honda Partner To Bring EVs Into The Market By 2025
“We shared the view that it is better to make the joint venture independent, in the long run, rather than putting it under Sony or Honda,” said Yoshida. Asked if that meant an initial public offering was on the cards, Sony’s CEO said, “That’s a possibility.”
Yoshida added that Sony wants “to contribute to the evolution of mobility by providing the basis with network functions.” He said that discussions about the venture’s business model are still ongoing.
Honda and Sony signed a memorandum of understanding to establish an EV joint venture back in early March. A name has yet to be given to the new company and it is unclear if the Sony Vision-S 01 sedan and Vision-S 2 SUV concepts will influence the designs of future models developed alongside Honda.
“Sony’s Purpose is to ‘fill the world with emotion through the power of creativity and technology,’” Yoshida said when the joint venture was first announced. “Through this alliance with Honda, which has accumulated extensive global experience and achievements in the automobile industry over many years and continues to make revolutionary advancements in this field, we intend to build on our vision to ‘make the mobility space an emotional one,’ and contribute to the evolution of mobility centered around safety, entertainment, and adaptability.”
