SoftBank Eyes Switch Inc as It Pushes Deeper Into AI Data Center Expansion 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Air Transat Reaches Tentative Agreement With Pilots, Avoids Strike and Restores Normal Operations 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up 
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Gulf Sovereign Funds Unite in Paramount–Skydance Bid for Warner Bros Discovery 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
US Signals Openness to New Trade Deal as Brazil Shows Willingness, Says USTR Greer 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
EssilorLuxottica Bets on AI-Powered Smart Glasses as Competition Intensifies 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Sony Corporation and Honda Motor Company have inked a deal for a joint venture and planning to sell EVs by the year 2025. The major Japanese companies announced late last week that they have agreed to a 50-50 JV, and the announcement made their deal official.
As per Reuters, Honda Motor Company only offers one electric vehicle as of now, and this is the Honda e. Since it only has one EV model, the company is apparently falling behind its automaker rivals, which are already releasing several types of electric cars.
It was noted that Honda has been slower with the shift to electric vehicles compared to global carmaker competitors such as Toyota Motor. Thus, it is under pressure from investors to build vehicles that are equipped with the latest technology while also being carbon-free.
With its JV agreement with Sony, Honda is planning to introduce at least 30 EV models and build around two million units by 2030. The newly-formed business venture has been named Sony Honda Mobility, and it is aiming to become one of the top firms in the electric car business sector worldwide.
Sony will be contributing to the construction of the EVs by providing its software and other tech expertise, while Honda will be leading the building of the cars as well as the marketing. Honda Motor and Sony will be investing 5 billion yen each which is around $39.52 million, and the JV is set to be headed by Yasuhide Mizuno, Honda's senior executive.
Mizuno will serve as Sony Honda Mobility's chairman and chief executive officer, while Izumi Kawanishi will be the president and chief operating officer. At Sony, Kawanishi is serving as the company's vice president.
"Honda continues to take on new challenges in the environmental, safety, and other advanced fields in order to be a driving force for social change through mobility, and 'become the power that supports people around the world who are trying to do things based on their own initiative,'" Honda Motor's president, director, representative executive officer and CEO, Toshihiro Mibe, said in a press release.
The Honda chief added, "We are very pleased to have signed a joint venture agreement with Sony, which has strengths in advanced digital technology and shares our desire to take on new challenges. At the new company, we will strive to create new value through the fusion brought about by the combination of our different industries, so please look forward to future developments."
