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Honda and Sony – two of Japan's most high-profile corporate titans – are teaming up to enter the electric vehicle market.
Technology and software company Sony is collaborating with car manufacturer Honda to produce electric cars by 2025.
The cooperation between the two is a powerful alliance and threatens to shake up the previously insular electric vehicle industry. U.S. companies, including Tesla and Apple, have been aggressive in researching electric vehicle production, seeing it as a market set to boom in the coming years.
The joint venture is also a source of Japanese economic solidarity – both Honda and Sony are legacy companies in Japan and are often used as a symbol of post-war prosperity.
|HMC||HONDA MOTOR CO. LTD.||24.44||-0.60||-2.40%|
|SONY||SONY GROUP CORP.||84.45||-1.19||-1.39%|
"The new company will aim to bring together Honda’s cutting-edge environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology and after-sales service management experience, with Sony’s 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," Honda announced earlier this month.
GENERAL MOTORS AND HONDA TO BUILD MORE ELECTRIC VEHICLES TOGETHER