Today, Sony announced the creation of a new transportation subsidiary. The company has already unveiled a prototype electric vehicle last year and has started road testing it in Europe. The company’s chief executive, Kenichiro Yoshida, revealed plans for a new model of an electric car that will allow passengers to play video games while on the road. The company is not the first to enter the EV market, though.
The news comes at a time when tech companies are expressing an interest in making electric cars. Unlike internal-combustion engines, these vehicles are easier to fabricate and have fewer moving parts. But while this bodes well for the EV industry, it isn’t an easy road for the consumer. Even if Sony is the first to step into the EV market, it will have to compete with the world’s largest automaker to retain its market share.
The new subsidiary will be focusing on developing and manufacturing electric cars. Its first model, the Vision-S, will be launched in 2020. The new firm will concentrate on developing and marketing its own electric cars and will be owned by the Japanese company. The Vision-S sedan is expected to sell for around $138,000 in Europe. The company is not yet sure if the push into the electric car market will boost the stock, but the move has analysts interested.
The Vision-S project is still going strong. Having built the first electric SUV, Dyson has halted its multi-billion-dollar electric SUV project this year. The founder of Dyson said the company would not be able to recoup its investment in the EV market. Meanwhile, Sony has a $31 billion cash-on-hand balance and a $160 billion market cap.
The new transportation subsidiary is the first of its kind. The company has been developing an electric automobile prototype in Europe for the past several years and has begun road testing it this year. It is also planning to build a new version of the electric car that would let passengers play video games while on the move. The new division will likely add other technology partners. Its EV project will be led by an executive from Sony.
The company’s newest subsidiary will focus on transportation. It already has a prototype electric car and is currently road testing it in Europe. The company has begun road-testing the vehicle in Europe and will launch a new company in the spring. Its CES presentation included a demo model of the Vision-S 02 SUV. The vehicle will begin road testing in Europe in December 2020.
While the new company won’t be a fully-fledged carmaker, it will build the electric vehicles that it develops. The electric car is expected to have a battery life of about 40 kilometers. It will be a hybrid or plug-in hybrid. The car will be made of lithium-ion batteries, which are environmentally friendly. The cars will also be able to charge at home, making the process more environmentally friendly.
While the EV market presents fewer barriers to entry, the company is still exploring the possibility of a hybrid-electric car. It has revealed a prototype of an electric sports utility vehicle but has not yet confirmed whether it will make cars. The company previously only showed off its electric sedan, but it has now hinted at an electric sports utility vehicle. The concept uses lithium-ion battery technology.
In the past, Sony was best known for its consumer electronics. But it has now shifted its focus from consumer electronics to electric cars. The new division will be called Sony Mobility Inc. and will make its debut at CES in Las Vegas. The Vision-S saloon and the Vision-S 02 SUV are both based on the same underpinnings, but there is no mention of battery size.
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