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Sony Honda Mobility cancels Afeela 1 sedan and Afeela 2 SUV amid Honda's EV strategy shift
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Sony Honda Mobility, the joint venture between Sony and Honda, has discontinued its two electric vehicle models: the Afeela 1 sedan and Afeela 2 SUV. The decision follows Honda's reassessment of its electrification strategy on March 12, 2026, and comes amid slowing U.S. EV demand. The company will issue full refunds to U.S. customers who placed reservations.
Tensions between the United States and Iran have disrupted energy supplies through the Strait of Hormuz in March 2026, spiking oil and LNG prices and affecting Indonesia. The country relies on imported fossil fuels but holds opportunities from critical mineral reserves. Experts recommend accelerating electric vehicle adoption and leveraging natural resources.
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Volkswagen Group will withdraw its Skoda brand from mainland China by mid-2026 after years of falling sales. Deliveries dropped from 341,000 in 2018 to around 15,000 last year as domestic EV makers gained market share.
Volvo Car USA will discontinue sales of the EX30 and EX30 Cross Country electric SUVs in the US market after the 2026 model year. The decision follows challenges including tariffs, production shifts and weak sales. The models will continue in other markets.
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Tesla has released a deep dive video on the new Model Y L. The announcement came via a post on X by SawyerMerritt.
Tesla's six-seat Model Y L variant is set for launch in South Korea as early as the first half of 2026, following regulatory approvals. The extended-wheelbase model, already available in China since August 2025, will also arrive in Australia and New Zealand next year. However, U.S. customers face delays, with no immediate plans for entry.
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LG Energy Solution has decided not to use cathode materials from affiliate LG Chem in batteries supplied to Tesla due to unmet high energy density standards. Instead, the company is turning to competitor L&F to meet Tesla's demands for ultra-high nickel batteries. This shift highlights intensifying competition in the battery materials market amid a temporary electric vehicle demand slump.
Three Chinese EV makers raise prices but analysts warn of weak demand
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