Zinger Key Points
- Honda and Sony reportedly join forces to introduce three EV models by the late 2020s, aiming to compete in the EV market.
- The joint venture plans to reduce costs and streamline development by sharing a common chassis across the three models.
- Feel unsure about the market’s next move? Copy trade alerts from Matt Maley—a Wall Street veteran who consistently finds profits in volatile markets. Claim your 7-day free trial now.
A joint venture set up by Honda Motor Co Ltd HMC and Sony Group Corp SONY called Sony Honda Mobility is reportedly planning to introduce three electric vehicle (EV) models by late 2020s.
Sony Honda Mobility plans to roll out a sports utility vehicle (SUV) in 2027 and “affordable” compact in 2028 or later, following a launch of a sedan in 2025 to compete with Tesla Inc TSLA, reported Nikkei.
Sony Honda Mobility previously indicated that the sedan EV will be launched under the Afeela brand, but now two more models will be included in the line.
The three models will share the same chassis to reduce costs and speed up development, and the compact could be comparable in size to the Toyota Motor Corporation TM Corolla and Volkswagen AG VWAGY Golf.
The companies plan to keep the retail prices low by omitting equipment and functions. The Afeela Sedan, which the company has dubbed a “high-value-added EV,” is expected to be priced at over 10 million yen ($66,413), the report added.
Earlier this month, Honda recalled 750,114 vehicles in the US over airbag concerns, with no reported injuries.
Also, American Honda targets robust growth in 2024, projecting up to 1.3 million sales for the Honda brand and 150,000 for Acura.
Price Action: HMC shares are trading lower by 1.06% at $33.70 on the last check Wednesday.
Image Via Shutterstock
Edge Rankings
Price Trend
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
