Honda and Sony will form a new company to create and commercialize for "high value-added" battery electrics in various markets, including the U.S.
Toshihiro Mibe's comments reflect the pressure on automakers to share technology and costs to meet demands for cleaner vehicles. Honda and General Motors already have several joint initiatives.
The 50-50 company will be established this year with the goal of starting EV sales and providing mobility services in 2025. The deal is still subject to regulatory approval.