Sony, a well-known electronics corporation best known for its video game consoles and televisions, is preparing to enter the electric vehicle market.
Its electric vehicle initiative began two years ago, but it is now drawing partners who can help it develop and construct roadworthy vehicles. Although it’s unknown how far Sony will take these efforts, the elements are starting to fall into place for the corporation to build a competitive electric vehicle business.
The path to a successful electric vehicle for Sony is a steep one. The company is dealing with all of the ‘typical’ challenges and barriers that come with establishing a successful auto brand, such as ensuring a functional supply chain, production, testing, and so on.
Of course, Sony might rely on contract manufacturing and other outsourcing options in the short term, but long-term growth will necessitate a change to in-house production and development.
In the competitive scenario, Sony will fight out against every traditional manufacturer as well as several well-funded startups, some of whom have already started delivering new electric vehicles to customers.
Despite this, Sony has two prototypes and has already formed a cooperation with Magna International, an Austrian manufacturer. Many of the essential pieces are already in place or motion, thanks to Bosch and other big-name auto parts manufacturers.
Why would Sony want to enter such a difficult industry? The PlayStation maker sees subscription entertainment services and other pay-as-you-go features that may be integrated into cars as a way to enhance revenue.
The corporation also recognizes that neglecting electric vehicles is a danger, as its leaders feel that EVs are altering the car industry in the same manner that the iPhone did over a decade ago.
also read:
The difficulty of mining and Hash Rate make Bitcoin prices plummet
