Sony-Honda joint venture scraps EV plans after Honda strategy overhaul [CNBC]
Honda Motor Company, Ltd. (HMC)
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Source: CNBC
Sony and Honda's joint mobility venture unveiled a new EV prototype in January. Kiyoshi Ota | Bloomberg | Getty Images Sony Honda Mobility , the joint venture between Japanese electronics giant Sony and ?automaker Honda , on Wednesday said it would stop developing its Afeela electric ?vehicles, citing ?Honda's strategy reassessment for ?EVs. The move follows Honda's move to overhaul its EV business for which the carmaker flagged a writedown of as much ?as ?2.5 trillion yen ($15.7 billion) earlier this month. ?The JV said the decision left it without a viable path to bring the Afeela models to market. Sony Honda Mobility will issue full refunds ?to customers who made reservations for what was supposed to be its first model, the Afeela 1, ?in California, it said in a statement. It added that it would continue discussions with Sony and Honda regarding its future plans. The JV had been ?expected to begin deliveries of the Afeela 1 in California late ?this year and had sought to
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- 3/26/26 - Form 3
- 3/26/26 - Form 3
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