Nippon Steel withdraws $133 million patent lawsuit against Toyota

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Nippon Steel withdraws $133 million patent lawsuit against Toyota

In a recent shift highlighting the complexities of electric vehicle development and carbon neutrality goals, Nippon Steel Corporation (TYO: 5401 ) has withdrawn its patent infringement lawsuit against Toyota Motor (NYSE: TM ) Corp. The decision underlines the potential harm to Japan's competitive edge from such internal disputes.

The lawsuit, originally filed in Tokyo District Court in October 2021, demanded 20 billion yen ($133 million) in damages. It accused Toyota of using electric motor technology that involved steel sheets manufactured by Baoshan Iron & Steel Co., also known as Baosteel.

However, Nippon Steel's legal feud with Baoshan Iron & Steel Co., a Chinese company facing identical patent infringement accusations, persists. This ongoing dispute underscores the global tensions surrounding intellectual property rights in the rapidly evolving electric vehicle sector.

The withdrawn case against Toyota, Japan's largest automaker, was seen as a reflection of the impact of internal disputes on national competitiveness and beneficial partnerships. With industry-wide rapid transition to carbon neutrality, such legal battles can potentially hinder technological advancements and collaboration efforts.

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