Sony Looks To Electric Cars For Its Next Big Hit
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Japan’s Sony Group Corp plans to launch a company this spring to examine entering the electric vehicle market, looking to harness its strengths in entertainment and sensors to play a bigger role in next-generation mobility.
The new company, Sony Mobility Inc, comes as the Japanese tech giant is “exploring a commercial launch” of electric vehicles, Sony chairman and president Kenichiro Yoshida told a news conference, speaking ahead of the CES technology trade fair in the United States.
“With our imaging and sensing, cloud, 5G and entertainment technologies combined with our contents mastery, we believe Sony is well-positioned as a creative entertainment company to redefine mobility,” he said.
Although its once-dominant position in consumer electronics has been eroded by Asian rivals like South Korea’s Samsung Electronics Co, Sony still has an arsenal of sophisticated technology in areas such as sensors critical to autonomous driving.
It also remains one of the world’s biggest entertainment companies, home to prominent video game and movie franchises. Audio and entertainment systems are increasingly a focus for next-generation vehicles.
Shares in Sony jumped 4.2% in Tokyo after the electric vehicle plans were announced, easily outpacing a flat Nikkei index.
Yoshida unveiled a prototype sport utility vehicle (SUV), the VISION-S 02, which uses the same electric vehicle platform as the previously announced VISION-S 01 coupe that began testing on public roads in Europe from December 2020.
He said the company saw mobility as an “entertainment space” where passengers could choose individual entertainment options and use 5G internet connection.
Wall Street is betting heavily on electric cars and the global auto industry has been upended by Tesla Inc, now the world’s most valuable automaker. Many investors also expect Apple Inc to launch its own vehicle within the next few years.
Japan’s Toyota Motor Corp in December committed $70 billion to electrify its automobiles by 2030.
Questions & Answers
Q.What is Sony's stated goal for launching Sony Mobility Inc?
What is Sony's stated goal for launching Sony Mobility Inc?
Sony Mobility Inc is being launched to explore entering the electric vehicle market. The company aims to use Sony's strengths in entertainment and sensors to play a larger role in future mobility solutions.
Q.How will Sony differentiate its electric vehicles in the market?
How will Sony differentiate its electric vehicles in the market?
Sony believes it can redefine mobility by combining its imaging, sensing, cloud, 5G, and entertainment technologies with its content mastery. The company sees mobility as an 'entertainment space'.
Q.What evidence is there that Sony's electric vehicle plans have been positively received?
What evidence is there that Sony's electric vehicle plans have been positively received?
Shares in Sony jumped 4.2% in Tokyo after the electric vehicle plans were announced. This significantly outpaced the flat performance of the Nikkei index on the same day.
Q.Have any prototype vehicles been developed by Sony?
Have any prototype vehicles been developed by Sony?
Yes, Sony has unveiled a prototype sport utility vehicle (SUV), the VISION-S 02. This uses the same platform as the VISION-S 01 coupe, which began testing on public roads in Europe in December 2020.
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