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Sony beefs up electric vehicle ambitions with plans for new company

Japanese electronics firm Sony Group Corp (6758.T) plans to launch a company in spring 2022 to explore entering the electric vehicle market, signalling ambitions to claim a slice of the fast-growing market for green mobility.

Announcing the new company, Sony Mobility Inc, in a news conference ahead of the CES technology trade fair in the United States, Sony's chairman and president, Kenichiro Yoshida, said the company was "exploring a commercial launch" of electric vehicles.

Shares in Sony jumped 4% in morning trade in Tokyo, outpacing a flat Nikkei index (.N225).

Sony already has advanced technology in sensors critical to autonomous driving, as well as the audio and entertainment systems that are increasingly a focus for next-generation vehicles.

The launch of Sony Mobility comes after the consumer electronics giant unveiled a prototype sport utility vehicle (SUV) now being tested on public roads.

The prototype, the VISION-S 02, uses the same electric vehicle platform as the earlier VISION-S 01 coupe that began testing on public roads in Europe from December 2020.

Source: Reuters / Reporting by Shinji Kitamura; Editing by David Dolan and Himani Sarkar

Author: Nidhul   

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