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Sony Honda Mobility weighs future IPO for electric vehicle joint venture

 

 

5. Jan. (Reuters) Jan 5 (Reuters) Sony and Honda’s one-year-old electric car joint venture looking at the possibility of a stock sale as an possibility to raise funds in the near future, but these discussions are in the beginning Chairman of Sony Honda Mobility said on Thursday.

Yasuhide Mizuno has said that the cost of creating an “high-value” electric automobile,, such as the recently revealed Afeela is significant and an offering of shares was discussed as a possibility to raise funds.

“IPO could be one of the choices,” Mizuno told a group of journalists in the roundtable discussion. “We need to be capable of standing on our own feet.”

Honda chief executive Toshihiro Mibe told reporters in March that, while he wasn’t thinking of making the joint venture public immediately, he did not ignore the possibility to increase the size of the firm.

Sony revealed the low-slung car prototype on Wednesday during an event where it revealed its Afeela brand name. It is designed to create a connection with its customers.

Mizuno confirmed that the car is expected to be delivered to the United States starting in early the spring of 2026. It will be delivered to Japan in the following year. Sony Honda Mobility plans a global roll-out that will include Europe and regions of Asia and the Middle East, he added.

Sony Honda Mobility also is looking at selling the vehicle in China which Mizuno called an attractive but highly fiercely competitive market for electric cars.

While Honda has a vast network of dealerships for automobiles however, the Afeela will be available online Mizuno told reporters. The partnership is currently considering how to service the cars.

Mizuno has not discussed pricing, stating that the price of materials and chips can vary.

A full range of vehicles will be available under the Afeela brand, said the spokesperson.

The shares from Sony Group Corp rose 2.4 percent, while Honda Motor Co Ltd advanced 1.9 percent in Tokyo trading on Friday. (Reporting from Dawn Chmielewski in Los Angeles editing by Richard Chang)

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