By Christy R Mathew
Sony and Honda announced a new partnership in March to design and manufacture electric vehicles together, but it now appears that the two Japanese companies have decided to form a separate entity rather than use their own names.
According to a statement released by Sony President and CEO Kenichiro Yoshida to Nikkei, the two companies shared the view that it is better to make the joint venture independent in the long run, rather than putting it under Sony or Honda.
The executive went on to say that there's a "possibility" that the two companies will sell a stake in the new entity or even go public, but he [hopes] to be able to talk a little about it at some point in the near future.
Sony announced its intention to "fill the world with emotion through the power of creativity and technology" three months ago, with a focus on "safety, entertainment, and adaptability."
The collaboration also came soon after Honda announced plans last year to convert its entire vehicle lineup to EVs by 2040, with $40 billion USD set aside to produce 30 new electric vehicles over the next decade.
In other news, BMW has unveiled the iX1 electric SUV.