News Summary

• Honda has written off 2.5 trillion yen on the Sony Honda Mobility joint venture.
• This equates to approximately 13.5 billion euros or $15.55 billion.
• Development of the Afeela 1 electric saloon, priced at around $89,990, and a planned electric SUV have been halted.
• Anyone who has already paid a reservation fee in the US will receive a full refund.
• The reason for this sudden decision lies with Honda.
• The Japanese car manufacturer has significantly altered its global EV strategy and cancelled three planned models for the North American market.