Sony and Honda Sign Memorandum of Understanding for Strategic Alliance in Mobility Field

March 4, 2022, Tokyo, Japan – Sony Group Corporation and Honda Motor Co., Ltd. today announced that they have agreed to deepen discussion and exploration of forming a strategic alliance that aims to create a new era of mobility and mobility services. Specifically, the two companies have signed a memorandum of understanding that outlines their intent to establish a joint venture (“New Company”) through which they plan to engage in the joint development and sales of high value-added battery electric vehicles (EVs) and commercialize them in conjunction with providing mobility services.

The two companies will proceed with negotiations toward executing various definitive binding agreements, including a joint development agreement and a joint venture agreement, with a goal of establishing the New Company within 2022, subject to execution of the definitive agreements and relevant regulatory approvals.

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https://www.sony.com/en/SonyInfo/News/Press/202203/22-0304E/