Sony Honda Mobility has reportedly decided to cancel its electric vehicle development program, with plans to issue refunds to early customers who had placed reservations.
The decision comes as the joint venture reassesses its EV strategy amid shifting market conditions and slowing demand in key regions. The move reflects broader challenges facing automakers as many scale back or delay electric vehicle projects due to rising costs and uncertain consumer interest.
Sony Honda Mobility, formed in 2022 as a partnership between Sony Group and Honda Motor, had been developing its Afeela EV lineup as part of its push into the premium electric mobility segment. However, industry headwinds have led several automakers to revisit their electrification timelines.
The company is expected to provide further details on the refund process and its revised EV roadmap in the coming weeks.
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