Sony Honda Mobility (SHM) has announced it will discontinue the $90,000 Afeela 1 electric sedan and the unnamed Afeel SUV concept due to slower EV demand and policy pullbacks. The joint venture, established in 2022, aims to develop high value-added mobility products and provide mobility-related services by combining the technologies, expertise, and development capabilities of Sony and Honda. However, Honda has recalibrated its EV strategy following steep losses, resulting in a writedown of up to 2.5 trillion yen ($15.7 billion) on its EV investments. It is unclear what will become of the joint venture.