Sony, Honda halt AFEELA EV models, review JV
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Rhea-AI Filing Summary
Sony Group Corporation filed a report explaining that Sony Honda Mobility Inc. (SHM), its 50/50 joint venture with Honda, has decided to discontinue development and launch of its first AFEELA electric vehicle, AFEELA 1, and a second AFEELA model that had been under development. SHM will refund reservation fees for AFEELA 1 holders in California. The decision follows Honda’s reassessment of its automobile electrification strategy and changes in the EV market, which altered key assumptions such as access to certain Honda technologies and assets. Sony accounts for SHM under the equity method and records 50% of SHM’s net income as operating income in its All Other segment. Sony states that SHM has operated with an asset-light approach and believes the impact of discontinuing the models will not be material to Sony’s consolidated results or financial position for the fiscal years ending March 2026 and 2027. Sony, Honda and SHM will continue discussions to review SHM’s overall business direction and plan to announce SHM’s future role and long-term positioning in mobility at a later date.
Insights
Sony’s EV JV halts first AFEELA models; strategic impact, limited financial effect.
The announcement shows Sony Honda Mobility is discontinuing its first two AFEELA-branded EVs after Honda reassessed its electrification strategy and key technology support changed. This removes SHM’s initial product pipeline and forces a reset of its business plan.
Sony records its 50% share of SHM results as operating income in the All Other segment and highlights SHM’s asset-light model. Sony believes the decision will not materially affect consolidated results or financial position for fiscal years ending March 2026 and March 2027, implying limited near-term earnings exposure.
SHM will refund AFEELA 1 reservation fees in California and will work with Sony and Honda to redefine its business direction. A future joint announcement is planned on SHM’s longer-term role and contribution to mobility once the partners conclude their strategic review.
FAQ
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Why is Sony Honda Mobility discontinuing the AFEELA 1 and second EV model?
What happens to existing AFEELA 1 reservations in California?
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of March 2026
Commission File Number: 001-06439
SONY GROUP CORPORATION
(Translation of registrant’s name into English)
1-7-1 KONAN, MINATO-KU, TOKYO, 108-0075, JAPAN
(Address of principal executive offices)
The registrant files annual reports under cover of Form 20-F.
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F,
| Form 20-F x | Form 40-F ¨ |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SONY GROUP CORPORATION (Registrant) | ||
| By: | /s/ Lin Tao | |
| (Signature) | ||
| Lin Tao | ||
| Chief Financial Officer | ||
Date: March 25, 2026
List of Materials
Documents attached hereto:
Announcement Regarding the Discontinuation of Development and Launch of Sony Honda Mobility’s Electric Vehicle Models and the Review of Its Business Direction
March 25, 2026
Sony Group Corporation
Announcement Regarding the Discontinuation of Development and Launch of Sony Honda Mobility’s Electric Vehicle Models and the Review of Its Business Direction
Sony Group Corporation (“Sony”), Honda Motor Co., Ltd. (“Honda”) and Sony Honda Mobility Inc. (“SHM”), a joint venture between Sony and Honda, today announced that SHM has decided to discontinue the development and launch of its first model, AFEELA 1, as well as its second model of AFEELA-branded vehicles that had been under development (collectively, the “Models”), and that the three companies will review SHM’s business direction. For details, please refer to the attached press releases.
Sony accounts for SHM using the equity method, and records its 50% share of SHM’s net income after taxes as operating income in All Other in its consolidated results. Sony continues to evaluate the impact that the discontinuation of the Models would have on Sony’s consolidated results of operations and financial position for the fiscal years ending March 2026 and 2027. However, SHM has been conducting its business under an asset-light approach, and Sony believes that the impact will not be material to Sony’s consolidated results of operations and financial position.
Sony will continue to collaborate and hold discussions with Honda and SHM regarding SHM’s future business direction and intends to provide further updates when available.
End of document
Sony Honda Mobility
2026.3.25
Discontinuation of Development and Launch of AFEELA 1 and the Second Model of AFEELA Vehicles
Tokyo, Japan- March 25, 2026 –Sony Honda Mobility Inc. (“SHM”) today announced that it has decided to discontinue the development and launch of its first model, AFEELA 1, and its second model of AFEELA vehicles that had been under development (collectively, the “Models”). SHM’s decision comes following discussions between its parent companies, Sony Group Corporation (“Sony”) and Honda Motor Co., Ltd. (“Honda”).
Since its establishment in September 2022, SHM has aimed to develop and sell high value-added mobility products and to provide mobility-related services by combining the technologies, expertise, and development capabilities of Sony and Honda. However, as a result of Honda’s reassessment of its automobile electrification strategy announced on March 12, 2026, SHM will not be able to utilize certain technologies and assets that were originally planned to be provided by Honda at the time of SHM’s initial business planning. In light of this change, SHM has determined that it does not have a viable path forward to bring the Models to market as originally planned.
As a result of this decision, SHM will issue full refunds of the reservation fees received for current holders of reservations for AFEELA 1 in California in the U.S.
SHM will continue discussions with Sony and Honda regarding its future business plans.
 |  |
March 25, 2026
Sony Group Corporation
Honda Motor Co., Ltd.
JOINT STATEMENT FROM SONY GROUP CORPORATION AND HONDA MOTOR CO., LTD.
REGARDING THE REVIEW OF SONY HONDA MOBILITY’S BUSINESS DIRECTION
Tokyo, Japan - Since its establishment in September 2022, Sony Honda Mobility Inc. (“SHM”), the joint venture (“JV”) formed by Sony Group Corporation (“Sony”) and Honda Motor Co., Ltd. (“Honda”) has aimed to develop and sell high value-added mobility products and to provide mobility-related services by combining the technologies, expertise, and development capabilities of Sony and Honda.
However, as a result of Honda’s reassessment of its automobile electrification strategy announced on March 12, 2026 and factoring the changes to the EV market, the underlying assumptions of SHM’s business operations such as the utilization of certain technologies and assets planned to be provided by Honda were fundamentally altered, resulting in the announcement by SHM today to discontinue the development and launch of its first model, AFEELA 1, and its second model. At the same time, Sony, Honda and SHM have determined to review SHM’s business direction.
Sony, Honda and SHM will continue to discuss and evaluate the future of SHM, taking into account the initial purpose of the JV establishment as well as the latest EV market environment, and intend to jointly announce SHM’s future direction, mid to long-term positioning as well as contributions to the future of mobility at the earliest possible opportunity.