Particle.news
Download on the App Store
4 ARTICLES
·
2mo ago

Sony and Honda Halt EV Venture, Cancel Afeela Plans

The venture’s collapse highlights how retreating incentives in the U.S. have upended the business case for new electric cars.

Image
Image
Image

Overview

  • Sony Honda Mobility said it is stopping the Sony–Honda EV venture and canceling planned Afeela launches.
  • The company will give full refunds to U.S. customers who preordered the car.
  • The move stems from Honda’s revised EV strategy, which cut off technologies the venture was meant to use.
  • Earlier in March, Honda also paused three North America–bound EVs and forecast its first annual net loss since 1957 due to EV reorganization costs.
  • Coverage points to tougher U.S. conditions squeezing margins, including the end of purchase tax credits, looser fossil-fuel rules, higher tariffs, and a broader slowdown in EV demand.