By Kosaku Narioka
Honda Motor Co. and Sony Group Corp. said Friday they intend to jointly develop and sell electric vehicles, bringing together two of Japan’s biggest names in a field where the country has lagged behind.
Honda /zigman2/quotes/207173990/composite HMC -1.03% /zigman2/quotes/200490352/delayed JP:7267 +0.27% and Sony /zigman2/quotes/208567357/composite SONY -1.30% /zigman2/quotes/201361720/delayed JP:6758 +0.67% said they aimed to set up a joint venture this year and begin selling their jointly developed electric vehicles in 2025.
The joint venture won’t own its own auto factories, but instead outsource manufacturing to Honda, the companies said. Sony will supply expertise in sensing, communication and entertainment, they said.