Sony Honda Mobility has officially unveiled its first EV brand Afeela at the 2023 Consumer Electronics Show in Las Vegas. Now, Reuters reports that the joint venture between Japan’s Sony and Honda is in talks on a future stock offering, as announced by its Chairman Yasuhide Mizuno on December 5.
What prompts the JV to consider an IPO?
It is not a secret that electric vehicle production costs are increasingly expensive. Sony Honda Mobility Chairman Yasuhide Mizuno explained that a stock offering would aid them in accumulating funds for Afeela’s production.
Afeela
Sony and Honda’s joint venture aims to sell its first EV brand Afeela in North America by 2026. Chairman Yasuhide Mizuno said that Sony would employ its competence in virtual reality, augmented reality, AI, and entertainment to Afeela’s development.
“Afeela represents our concept of an interactive relationship where people feel the sensation of interactive mobility and where mobility can detect and understand people and society by utilizing sensing and AI technologies.”
Yasuhide Mizuno
Unfortunately, the EV’s key specifications are not yet revealed. Nonetheless, we know that the JV aims to develop Afeela as a Level 3 autonomous driving car, subjected to limited conditions.
Reports suggest that it would have Level 2+ driver assistance in urban driving.
Remarkably, Afeela would be equipped with Qualcomm Snapdragon Digital Chassis. It will also have 45 cameras and sensors on its exterior and interior.
That said, Sony Honda Mobility will need to raise substantial funds to produce such a high-tech vehicle. It would not be surprising if they ended up launching an initial public offering soon.
