Sony Honda Mobility Inc. wants to get an EV out by 2025.

Today, electronics company Sony and automotive manufacturer Honda announced that they will be going into business together, with the goal of creating electric vehicles. This new joint venture, Sony Honda Mobility Inc., will have its ownership split 50/50 between the two companies with the first major goal being releasing a commercially viable EV by 2025.

Sony Honda Mobility Inc. is the new name of Sony and Honda's EV business https://t.co/Fs0coPXT6g pic.twitter.com/fFp5fqzlo7

— Engadget (@engadget) June 16, 2022

“We are very pleased to have signed a joint venture agreement with Sony, which has strengths in advanced digital technology, and shares our desire to take on new challenges,” Honda CEO Toshihiro Mibe said in a statement. “At the new company, we will strive to create new value ​​through the fusion brought about by the combination of our different industries, so please look forward to future developments.”

Japan's Sony and Honda Motor officially agree to an equally owned joint venture that will start selling electric cars in 2025 https://t.co/DONSpDR2UI pic.twitter.com/T0bzaPVJH1

— Reuters (@Reuters) June 17, 2022

“As we continue our learnings in these areas, we are excited to have met a partner, Honda, with extensive global achievements and knowledge, and to sign the joint venture agreement between the two companies,” Sony Group Corporation CEO Kenichiro Yoshida said in a separate statement. “We aim to contribute to the evolution of mobility by combining Honda’s cutting-edge environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology and after-sales service management experience, with our expertise in imaging, sensing, telecommunication, network and entertainment technologies.”