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March 4, 2022, 6:58 a.m. EST

Honda and Sony plan to team up over EVs

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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 +1.33% /zigman2/quotes/200490352/delayed JP:7267 -0.18% and Sony /zigman2/quotes/208567357/composite SONY +0.84% /zigman2/quotes/201361720/delayed JP:6758 -0.77% 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.

An expanded version of this report can be found at WSJ.com

/zigman2/quotes/207173990/composite
US : U.S.: NYSE
$ 24.43
+0.32 +1.33%
Volume: 558,868
Nov. 25, 2022 1:10p
P/E Ratio
7.91
Dividend Yield
3.04%
Market Cap
$41.71 billion
Rev. per Employee
$617,627
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/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 3,372.00
-6.00 -0.18%
Volume: 1.81M
Nov. 25, 2022 3:00p
P/E Ratio
8.79
Dividend Yield
3.56%
Market Cap
¥5808.39 billion
Rev. per Employee
¥76.70M
loading...
/zigman2/quotes/208567357/composite
US : U.S.: NYSE
$ 82.89
+0.69 +0.84%
Volume: 416,861
Nov. 25, 2022 1:10p
P/E Ratio
13.63
Dividend Yield
0.47%
Market Cap
$103.32 billion
Rev. per Employee
$769,661
loading...
/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 11,600.00
-90.00 -0.77%
Volume: 1.85M
Nov. 25, 2022 3:00p
P/E Ratio
15.40
Dividend Yield
0.60%
Market Cap
¥14387.33 billion
Rev. per Employee
¥95.12M
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