Two of Japan’s biggest names in business are teaming up.
Sony ( SNE) and Honda ( HMC) announced Friday that they plan to start a joint venture to make and sell electric vehicles. The company will be established later this year, and deliveries will begin by 2025. Details of the agreements are still being worked out, and will be subject to regulatory approval, the two firms said in a joint statement. «The new company is expected to plan, design, develop, and sell the EVs, but not own and operate manufacturing facilities,» they added. Honda will handle production at one of its factories.
