#AceFinanceReport – Apr.09: The pledge by one of the world’s biggest automakers to share its closely guarded patents, the second time it has opened up a technology, is aimed at driving industry uptake of hybrids and fending off the challenge of all-battery electric vehicles (EVs): Toyota said it would grant licenses on nearly 24,000 patents on technologies used in its Prius, the world’s first mass-produced “green” car, and offer to supply competitors with components including motors, power converters and batteries used in its lower-emissions vehicles… Reuters reported.
Toyota’s move to unlock its patents underlines its belief that hybrids are an effective alternative to all-battery EVs, given a fuel efficiency roughly double that of gasoline cars, lower cost and that they do not need charging infrastructure: Toyota vehicles account for more than 80 percent of the global hybrid vehicle market. “Toyota has realised that they made a mistake by protecting their hybrid technology for years………..This prevented diffusion” said Janet Lewis, head of Asia transportation research at Macquarie Securities.
“Toyota on its own can’t get key technology accepted, but if other companies use it, that offers the best chance of expansion,” she added: The article notes statistics from LMC Automotive that hybrid vehicles “account for around 3 percent of all vehicles sold globally, eclipsing the roughly 1.5 percent share of all-battery EVs.” Shigeki Terashi, Executive Vice President of Toyota, said, “we believe that now is the time for cooperation.”
#AceFinanceDesk report …………….Published: April.09: 2019:
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