Sony recently announced the company plans to establish a new EV (Electric Vehicle) subsidiary Sony Mobility with an aim to explore automotive opportunities in line with the 2050 Net Zero emissions goal, the Commercial Times reported on January 6. Sony-branded EV will be integrated with the company’s sensor, consumer electronics, and entertainment technologies. Moreover, the company will have to invest a fortune in plants and equipment to have sufficient capacity to bring its prototype Vision-S EV to market. Other than Sony, Apple, LG Electronics, and Foxconn have also explored EV opportunities over the years. However, the company has to comply with much stricter safety regulations than consumer electronics products. To achieve its goal, Sony has partnered with an automaker to produce its prototype EV while partnering with Canadian autoparts maker Magna International, which builds cars for BMW, Mercedes Benz, and Toyota. Sales of global EVs (BEV and HEV) accounted for over 10% of the global auto industry for the first time in 2021. Sales of global EVs are estimated to grow from 11 million units in 2020 to 145 million-230 million units by 2030 and the CAGR (Compound Annual Growth Rate) over the period is 30%, according to MIC (Market Intelligence & Consulting Institute), a major government think tank and IT research institute in Taiwan.