"Sony Honda Mobility announced Wednesday it's scrapping development of its joint venture electric vehicle after Honda flagged a writedown of as much as $15.7 billion and had to overhaul its entire EV strategy."
"The partnership combined Honda's engineering expertise with Sony's software and gaming capabilities. Sony Honda Mobility had planned to begin deliveries of the Afeela 1 in California late this year, with a second model expected as early as 2028."
"Customers who reserved the Afeela 1 will receive full refunds. Both Sony and Honda said they don't expect the discontinuation to materially impact their financials."
Sony Honda Mobility has announced the cancellation of the Afeela electric vehicle project after Honda revealed a potential writedown of $15.7 billion. The joint venture aimed to merge Honda's engineering with Sony's software capabilities. Deliveries of the Afeela 1 were scheduled for late this year, with a second model planned for 2028. Customers who pre-ordered will receive full refunds, and both companies do not anticipate significant financial impacts from this decision. Future discussions regarding the direction of Sony Honda Mobility will continue with both parent companies.
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