American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Innovent Biologics Shares Rally on New Eli Lilly Oncology and Immunology Deal 
UK Starting Salaries See Strongest Growth in 18 Months as Hiring Sentiment Improves 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Yen Slides as Japan Election Boosts Fiscal Stimulus Expectations 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Gold and Silver Prices Climb in Asian Trade as Markets Eye Key U.S. Economic Data 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
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."
