Nippon Steel drops patent lawsuit against Toyota in name of partnership

2024-12-24 21:59:50 source: category:My

TOKYO (AP) — Nippon Steel Corp. has dropped its lawsuit against Toyota Motor Corp. over a patent for a technology used in electric motors, saying wrangling among Japanese companies was not beneficial to keep the nation competitive.

Toyota and Nippon Steel see their partnership as critical in the Japanese auto industry.

Japan’s top steelmaker said in a statement Thursday that such internal disputes were not fitting for a period of uncertainty and rapid change toward “carbon neutrality,” referring to the recent rush to develop electric vehicles.

The lawsuit over intellectual property demanding compensation for damages totaling 20 billion yen ($133 million) was filed in Tokyo District Court in October 2021.

Tokyo-based Nippon Steel said it is still suing Baoshan Iron & Steel Co., or Baosteel, a Chinese steelmaker that produces and supplies the steel that it alleges violates the patent.

The lawsuit against Toyota, Japan’s biggest automaker, was related to steel sheets used in electric vehicle motors and manufactured by Baosteel.

___

Yuri Kageyama is on X, formerly Twitter https://twitter.com/yurikageyama

More:My

Recommend

Ben Affleck and His Son Samuel, 12, Enjoy a Rare Night Out Together

Ben Affleck is one cool dad.The Gone Girl actor took his son Samuel, 12, to the Los Angeles Lakers'

Maine sues biochemical giant over contamination from PCB-tainted products

PORTLAND, Maine (AP) — Maine is suing biochemical giant Monsanto for allegedly knowingly selling pro

A decorated WWII veteran was killed execution style while delivering milk in 1968. His murder has finally been solved.

Hiram "Ross" Grayam was a decorated World War II veteran who survived the Battle of the Bulge and wi