Axial flux permanent-magnet synchronous machines (PMSMs) are very suitable candidates for the power train of electric vehicles (EVs) due to high power density and high efficiency. This paper researches an axial flux PMSM with radially sliding permanent magnets (PMs) to fulfill field-weakening control. The field weakening principle and the structure of this kind of axial flux PMSM by mechanical method of sliding PMs are proposed and analyzed. The influences of radially sliding PMs on magnetic flux density distribution, inductance, flux linkage and torque are analyzed and discussed based on 3D finite element method (FEM). The field weakening capabilities by mechanical method and electrical method are compared. The field weakening capability of the machine can be much improved by the optimized combination of the two methods, which is very satisfying for EV drive application. The forces on the PMs are analyzed and calculated. The hysteretic characteristics caused by the friction of the PMs are investigated, which provide useful reference for designing this kind of machine.