Japan’s Sony and Honda Motor are teaming up to sell electric cars.
The companies agreed on Thursday to form a joint venture that will begin selling cars in 2025.
The partnership was first announced in March and named Sony Honda Mobility.
Each company will invest 5 billion yen ($37.52 million) in the venture.
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Honda brings to the partnership its expertise in building and selling cars and Sony has the software and technology experience.
Both companies have made news this year involving electric vehicles.
SONY BEEFS UP ELECTRIC VEHICLE AMBITIONS WITH PLANS FOR NEW COMPANY
Sony announced its plans to get into the industry for green mobility in January ahead of the CES trade show.
In April, Honda and General Motors announced they were expanding their electric vehicle partnership, developing a series of lower-priced EVs based on a new joint platform.
GENERAL MOTORS AND HONDA TO BUILD MORE ELECTRIC VEHICLES TOGETHER
Honda has trailed Toyota’s move into electric vehicles, but said it plans to roll out 30 EV models and make some 2 million EVs annually by 2030.
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Yasuhide Mizuno, a senior Honda executive, will serve as the JV’s chairman and CEO, and Izumi Kawanishi, an executive vice president at Sony, will be the president and chief operating officer.
Reuters contributed to this report.