Yahoo Finance Sony Explores Selling EVs, Joining Tech Rush Into Red-Hot Arena
(Bloomberg) -- Sony Group Corp. is exploring the commercial launch of its own electric vehicle, joining tech rivals like Xiaomi and Foxconn in a rush into the red-hot industry.
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Sony Chief Executive Officer Kenichiro Yoshida announced the establishment of Sony Mobility Inc. at the company’s CES 2022 keynote event Tuesday. The tech giant rolled out an SUV-type EV prototype to accompany the announcement, though no details on pricing or release date were made available. Sony is a leader in making sensors for autonomous and self-aware vehicles, a growing segment of its imaging business that spans most of the world’s smartphones and digital cameras.
The stock jumped as much as 4.7% in Tokyo on Wednesday.
“We are exploring the commercial launch of Sony EV,” Yoshida said at the press conference. “Sony is well-positioned as a creative entertainment company to redefine mobility.”
The Tokyo-based company unveiled its first prototype vehicle, dubbed Vision-S, in 2020 at the same event. Designed in collaboration with auto industry players including Magna International Inc. and Robert Bosch GmbH, it was a concept car to showcase Sony technologies covering its core strengths of entertainment and sensors.
Tech companies from China’s Xiaomi Corp. to Taiwan’s Foxconn Technology Group have ventured into EVs to diversify beyond mobile phones and PCs. Apple Inc.’s own ambitions for an electric car have been among the most scrutinized, with Bloomberg News reporting in November that the world’s No. 1 tech firm is accelerating development in the sector.
(Updates with CEO quote in fourth paragraph)
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