
The outbreak of war between the US and Iran in late February 2026 has entered its second month, sending shockwaves through global energy and petrochemical markets. Soaring crude oil and liquefied natural gas (LNG) prices are cascading downstream, affecting manufacturers across multiple industries.
Sony Honda Mobility, the joint venture between Sony and Honda, has scrapped the two "Afeela"-branded electric vehicles it had been developing, citing Honda's recent strategic shift that canceled three planned US EVs—moves that could cost the automaker nearly US$16 billion. The decision leaves the joint venture's hundreds of employees in Tokyo and California facing uncertainty, as the companies evaluate the venture's future.



