LAS VEGAS -- Sony and Honda's joint electric brand, Afeela, is targeting leases of up to 10 years.
The companies believe that people who buy the car will hold on to it that long because software updates will keep it fresh, said Sony Honda Mobility Chairman and CEO Yasuhide Mizuno.
Sony and Honda unveiled the Afeela brand at the CES here last week, rolling out a sedan concept to preview its debut model, which is due in 2026.
Sales of the EV will start in Europe in late 2026-early 2027, Mizuno said, which is shortly after the U.S. and Japan market launches.
"Replacing the car every three to five years is a very traditional methodology," Mizuno told journalists on the sidelines of the show. "But now: big change. This car is always updating; therefore, we try to utilize customers over five to 10 years."