Sony and Honda announce tie-up to make electric cars.

TOKYO — The Japanese electronics and entertainment giant Sony announced on Friday that it would team up with Honda to develop electric cars for sale as early as 2025, becoming the latest company to throw its hat into the burgeoning market for battery-powered vehicles.

Demand for electric cars is small but skyrocketing as concerns about climate change and tightening regulations on emissions push consumers into the market. But Japanese companies have lagged behind their competitors in developing the vehicles and are now scrambling to make up ground lost to fast-rising automakers like Tesla and traditional rivals like GM, which has pledged to go all-electric by 2035.

Sony, a leader in digital sensors and imaging technology, announced its ambition to enter the auto market in January at the Consumer Electronics Show in Las Vegas, unveiling a prototype S.U.V. that allowed passengers to play video games made for its PlayStation 5 console.

But rather than design its own cars, the company has opted to team up with a traditional automaker, seeking to avoid the pitfalls encountered by other tech companies that have attempted to make their own vehicles from scratch. Sony and Honda said in their announcement that they planned to form a new company this year that would manufacture cars in Honda’s factories.

The agreement is expected to give Sony access to Honda’s industry knowledge as well as its global network of dealerships and aftermarket service providers. Honda will get access to the technology essential to implement features like autonomous driving, and also to Sony’s wealth of entertainment options.

That will be crucial as the companies seek to compete against better-established electric vehicle manufacturers, as well as powerful tech companies, such as Apple, that want to put their own spin on electric cars.

Honda previously announced plans to make a variety of other all-electric cars, including at least two to be made under a tie-up with GM for the American market.

Source link


Blockbusters at Balenciaga and Margiela

PARIS — It was just a regular Wednesday afternoon...

Biden Planned To Tap Anti-Abortion Lawyer For Judgeship Day Roe Overturned: Emails

President Joe Biden planned to nominate an anti-abortion lawyer...

South African leader decries tavern teen deaths

South African President Cyril Ramaphosa said the deaths of...

Officials Balked at a Drug Company’s Tax Shelter. Auditors Approved It Anyway.

The drug company Perrigo had a problem.Consultants at the giant advisory firm EY had devised an elaborate arrangement that would allow Perrigo, one of...

Start-Up Funding Falls the Most It Has Since 2019

SAN FRANCISCO — For the first time in three years, start-up funding is dropping.The numbers are stark. Investments in U.S. tech start-ups plunged 23...

Fed Moves Toward Another Big Rate Increase as Inflation Lingers

WASHINGTON — The Federal Reserve, determined to choke off rapid inflation before it becomes a permanent feature of the American economy, is steering toward...