Sony-Honda JV mulls IPO options to raise money for new EV brand Afeela

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According to Reuters, Sony and Honda’s joint venture Sony Honda Mobile CEO Yasuhide Mizuno said the company is considering raising cash through an IPO and discussions are at an early stage.

On January 4, local time, at the 2023 International Consumer Electronics Show (CES) held in Las Vegas, USA, Sony Honda Mobile launched Afeela, a new brand of smart connected electric vehicles, and plans to open reservations in the first half of 2025. Mizuno Yasuhide said that the cost of producing a “high-value” electric vehicle like Afeela would be high, and the company had discussed issuing shares as one of the potential ways to raise funds. “IPO is one of our options, and we must be self-reliant.”

Honda Motor CEO Toshihiro Sanbe said in March last year that while he was not considering listing Sony Honda Mobile immediately, he would not rule out an IPO as an option to expand the company.

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