Today’s Solutions: July 01, 2022

In a move rarely seen by major corporations, Toyota has announced it will allow royalty-free access to its nearly 24,000 patents for hybrid and other vehicles using electrification technology in a bid to expand competition in the market as the industry adopts stricter emissions regulations.

Rather than shutting rivals out, Toyota hopes that making its motor and battery technology accessible to other companies will broaden the market, in particular for hybrids, a field the auto giant leads with its Prius vehicles. Toyota also hopes that opening up its technology for motors and batteries, which are key components of electric and fuel-cell vehicles, will increase their supply and help it to cut costs in developing such vehicles.

Now we’ll just have to wait and see whether any companies make use of these patents to develop more efficient electric vehicle.

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