The Sony Honda Mobility joint enterprise has officially announced a termination of its Afeela EV project, canceling both cars without any continuation plans. Customers who have preordered the Afeela 1 will have their deposits refunded in full.
The fated brand’s other electric vehicle, still unnamed, has also been pronounced dead. According to Reuters quoting Honda execs, the company was forced into reviewing its electrification strategy after sustaining multi-billion losses, and had to switch from EV development to more profitable areas.
No specific numbers came up, but it’s not that hard to connect the dots. In the market of today, launching a premium all-electric coupe with lackluster 483 km (300 miles) of range and a high ($90,000) starting price would be extremely unwise, especially with all the pressure from China’s progressively capable EV industry.
Back when it debuted, the Afeela 1 was billed as a high-tech, highly digital vehicle loaded with AI features and connected services. It flaunted a design targeted towards the younger audiences and had a built-in Sony PlayStation 5 console as part of the standard equipment. With the brand essentially closed, it won’t be seeing the light of day.
Honda’s losses on failed electrification are being estimated at eye-watering $15.7 billion. Aside from the Afeela fiasco, the company had to pull the plug on its 0 SUV, 0 Sedan and Acura RDX EV production plans.
