Sony Group (SONY) and Honda Motor's (HMC) Sony Honda Mobility joint venture said Wednesday it is discontinuing the development and launch of its first electric vehicle model, AFEELA1, and its second model.
The move factors in Honda's reassessment of its automobile electrification strategy and recent changes to the EV market, the company said.
The companies have decided to review Sony Honda Mobility's "business direction," it said.
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