Consumer electronics conglomerate Sony (NYSE:SONY) recently made an exciting announcement that sent shockwaves through the electric vehicle (EV) world. Sony announced that it would be finally entering the EV market through Sony Mobility, a company that is expected to launch this spring. SONY stock is in the spotlight as a result.
Sony CEO Kenichiro Yoshida made the game-changing announcement at the CES 2022 event. Yoshida also showcased a concept electric SUV called the VISION-S 02, although Sony didn’t mention any information related to pricing. The VISION-S 02 will use 5G and let passengers play PlayStation games through a digital video service.
Furthermore, Sony stated that its EV will include “high-sensitivity, high-resolution, wide dynamic range CMOS image sensors and LiDAR sensors that accurately sense three-dimensional space.”
Sony’s new vehicle unit will take advantage of its expertise in artificial intelligence (AI) and robotics. In addition, Bloomberg reports that Sony is already a leader in “making sensors for autonomous and self-aware vehicles, a growing segment of its imaging business that spans most of the world’s smartphones and digital cameras.”
Let’s dive into the details on Sony’s new EV unit, Sony Mobility.
SONY Stock: 5 Things to Know About Sony Mobility
- The VISION-S 02 concept vehicle follows the release of the VISION-S concept vehicle, which Sony unveiled last year. The VISION-S was designed in collaboration with auto industry peers like Magna International (NYSE:MGA) and Robert Bosch GmbH.
- Investors don’t know yet whether Sony’s first EV will be mass produced, although Yoshida hinted that the company is exploring a commercial launch.
- Additionally, Sony did not mention a potential release date for its EV during CES 2022. This is not particularly surprising.
- Sony’s official website states that the VISION-S 02 could potentially have a total of 40 sensors. These sensors will improve vehicle safety and assist with concepts such as self-parking and auto-lane changing.
- Furthermore, Sony stated that it is currently conducting road tests in Europe to aid in an advanced Level-2 driver support system.
- Finally, Sony released a promotional video detailing the VISION-S o2 concept.
On the date of publication, Eddie Pan did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
