economy Sony and Honda to Halt Development of Their EV, “AFEELA.” The Shock of Honda’s First-Ever Net Loss
Sony and Honda have announced they are abandoning development of their electric vehicle, the “AFEELA.” Due to a slowdown in the U.S. EV market and political factors, this highly anticipated project has been scrapped. Honda has posted its first net loss since going public, recording a total loss of 2.5 trillion yen over two years. We take a closer look at the reality of Honda’s crisis amid drastic changes, including the withdrawal of its goal to phase out internal combustion engines by 2040.