- Honda Motor Co Ltd HMC and Sony Group Corp SONY have signed a joint venture agreement to establish a new company to engage in the sale of high-value-added electric vehicles.
- Both Honda and Sony together will invest ¥10 billion in total. The investment ratio is 50% each.
- The name of the new company is Sony Honda Mobility Inc.
- In March, the companies signed a Memorandum of Understanding regarding this strategic alliance.
- Sony and Honda plan to establish the new company within 2022 and begin selling EVs and providing mobility services in 2025.
- Price Action: HMC shares are trading lower by 2.49% at $24.30 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
