Sony and Honda Abandon $100,000 Electric Vehicle Plans Amid Industry Writedowns

Sony Honda Mobility is discontinuing plans to launch the Afeela 1, a $100,000 electric sedan, due to Honda's change in EV strategy. The car was set to hit California roads later this year. The decision follows Honda's $15.7-billion writedown of its EV business and cancellation of three planned electric models. Refunds will be issued to customers who reserved a vehicle.