Sony turns to electric cars for next big hit

The Sony Corp logo. is displayed outside the company’s showroom in Tokyo, Japan.

Akio Kon | Bloomberg | Getty Images

Japan’s Sony group plans to launch a company this spring to examine entry into the electric vehicle market, looking to harness its entertainment and sensor strengths to play a larger role in next-generation mobility.

The new company, Sony Mobility, comes as the Japanese tech giant “explores a commercial launch” of electric vehicles, Sony president and chairman Kenichiro Yoshida said at a press conference, speaking before the CES technology fair in the United States.

“With our imaging and sensing, cloud, 5G and entertainment technologies combined with our mastery of content, we believe Sony is well positioned as a creative entertainment company to redefine mobility,” he said. -he declares.

Although its once dominant position in consumer electronics has been eroded by Asian competitors like South Korean Samsung Electronics, Sony still has an arsenal of sophisticated technology in areas such as sensors essential for autonomous driving.

It also remains one of the largest entertainment companies in the world, home to leading video game and movie franchises. Audio and entertainment systems are increasingly central to the concerns of new generation vehicles.

Learn more about electric vehicles from CNBC Pro

Sony shares jumped 4.2% in Tokyo after the electric vehicle plans were announced, easily topping a flat Nikkei index.

Yoshida has unveiled a sports utility vehicle (SUV) prototype, the VISION-S 02, which uses the same electric vehicle platform as the previously announced VISION-S 01 coupe which has started to be tested on public roads in Europe. from December 2020.

He said the company sees mobility as an “entertainment space” where passengers can choose individual entertainment options and use a 5G internet connection.

Wall Street is betting heavily on electric cars, and the global auto industry has been turned upside down by Tesla, now the world’s most valuable automaker. Many investors also expect Apple to launch its own vehicle in the next few years.

Japan’s Toyota Motor committed $ 70 billion in December to electrify its cars by 2030.

Source link

About Wendy Hall

Check Also

Russian bank owner Tinkoff acquires Swiss digital asset company

TCS Group, owner of major Russian private bank Tinkoff, is exposing itself to digital assets. …