There’s probably nothing more stress-inducing for Americans right now than going to the gas station.
For those who have invested in electric vehicles already, the sting of inflation-driven fuel costs is not a problem (although EV owners certainly have some other issues).
But many feeling the crunch are looking to electric vehicles as a potential long-term solution to their problems.
And while rising buyer interest in electric vehicles is nothing new, Tesla (TSLA) – Get Tesla Inc. Report was definitely the landmark name on the market when people started to get serious about them. That gave Tesla a good kind of problem, as its cars quickly became so popular they were selling out.
The rise in interest meant other businesses needed to step in and and compete. Today Toyota (TYIDF) , Volkswagen (VWAGY) – Get Volkswagen AG ADR Report, and Ford (F) – Get Ford Motor Company Report are just a few of the legacy automakers offering all-electric models.
The boom has also brought new players out of the woodwork as well, such as Tesla rival Rivian (RIVN) – Get Rivian Automotive Inc. Report, which went public in November 2021, Netherlands-based Lightyear, and Swedish manufacturer Polestar.
And now, another respected maker with a long history of making good cars is joining the fray in an all-new way. But if you’re hoping to buy one of its new vehicles, you’ll need to be patient, as they aren’t coming for some time.
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An Unusual Partnership
Honda (HNDAF) is not new to the EV market, having produced its first take on an electric vehicle all the way back in 1997 with the Fit EV-Plus, or the Honda EV Plus, as it’s more commonly known.
It later went on to make an electric version of the Honda Fit hatchback in 2012, the space-age-inspired MC-β in 2014, and the Clarity Electric in 2016.
It’s also offered a hybrid EV option over the years with its Honda Insight. And if you’re lucky enough to be in one of the markets its being sold in, there’s also its Honda E, which is a small, sleek all-electric vehicle with some first-generation Civic vibes in the design.
But what is new for Honda is this partnership, which is specifically aimed at the manufacture of “high-value-added” electric vehicles. It’s announced it will be joining forces with Sony to produce a new kind of electric vehicle company, which will be called Sony Honda Mobility Inc.
“The new company will aim to bring together Honda’s cutting-edge environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology and after-sales service management experience, with Sony’s expertise in the development and application of imaging, sensing, telecommunication, network and entertainment technologies, to realize a new generation of mobility and services for mobility that are closely aligned with users and the environment, and continue to evolve going forward,” the press release says.
The new company will be established this year after regulatory approvals and aims to have EVs ready to sell by 2025. Not a great solution if you’re looking for one to buy ASAP, but potentially ideal if you happen to be a Honda fan or have enjoyed its past EV efforts.