Japan's Sony Group plans to set up a company this spring to focus on electric vehicles as it looks to harness its strengths in entertainment and sensors to play a bigger role in next-generation mobility.
The subsidiary, Sony Mobility, comes at a time when the Japanese technology company is assessing plans for the commercial launch of electric vehicles, Sony chairman and president Kenichiro Yoshida told a news conference before the start of the CES technology trade fair in the US.
"With our imaging and sensing, cloud, 5G and entertainment technologies combined with our content mastery, we believe Sony is well positioned as a creative entertainment company to redefine mobility," he said.
Although its once-dominant position in consumer electronics has been eroded by Asian rivals such as South Korea's Samsung Electronics, Sony still has an arsenal of sophisticated technology in areas such as sensors critical to self-driving.
It also remains one of the world's biggest entertainment companies, home to prominent video game and movie franchises.
Audio and entertainment systems are increasingly a focus for next-generation vehicles.
Shares in Sony jumped 4.2 per cent in Tokyo after the electric vehicle plans were announced, easily outpacing a flat Nikkei index.
Mr Yoshida unveiled a prototype sport utility vehicle, the Vision-S 02, which uses the same electric vehicle platform as the previously announced Vision-S 01 coupe that began testing on public roads in Europe from December 2020.
He said the company regards mobility as an "entertainment space" where passengers can choose individual entertainment options and use 5G to connect to the internet.
Wall Street is betting heavily on electric cars and the global industry has been upended by Tesla, now the world's most valuable car maker. Many investors also expect Apple to launch its own vehicle within the next few years.
Japan's Toyota committed $70 billion in December to electrify its cars by 2030.
UAE currency: the story behind the money in your pockets
List of alleged parties
May 12, 2020: PM and his wife Carrie attend 'work meeting' with at least 17 staff
May 20, 2020: They attend 'bring your own booze party'
Nov 27, 2020: PM gives speech at leaving party for his staff
Dec 10, 2020: Staff party held by then-education secretary Gavin Williamson
Dec 13, 2020: PM and his wife throw a party
Dec 14, 2020: London mayoral candidate Shaun Bailey holds staff event at Conservative Party headquarters
Dec 15, 2020: PM takes part in a staff quiz
Dec 18, 2020: Downing Street Christmas party
The specs
Price: From Dh529,000
Engine: 5-litre V8
Transmission: Eight-speed auto
Power: 520hp
Torque: 625Nm
Fuel economy, combined: 12.8L/100km
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
UAE currency: the story behind the money in your pockets
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SQUADS
South Africa:
JP Duminy (capt), Hashim Amla, Farhaan Behardien, Quinton de Kock (wkt), AB de Villiers, Robbie Frylinck, Beuran Hendricks, David Miller, Mangaliso Mosehle (wkt), Dane Paterson, Aaron Phangiso, Andile Phehlukwayo, Dwaine Pretorius, Tabraiz Shamsi
Bangladesh
Shakib Al Hasan (capt), Imrul Kayes, Liton Das (wkt), Mahmudullah, Mehidy Hasan, Mohammad Saifuddin, Mominul Haque, Mushfiqur Rahim (wkt), Nasir Hossain, Rubel Hossain, Sabbir Rahman, Shafiul Islam, Soumya Sarkar, Taskin Ahmed
Fixtures
Oct 26: Bloemfontein
Oct 29: Potchefstroom
