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Nippon Steel drops patent lawsuit against Toyota in name of partnership

AP Business Writer

TOKYO (AP) — Nippon Steel has dropped its lawsuit against Toyota over a patent for a technology used in electric motors, saying wrangling among Japanese companies was not beneficial to keep the nation competitive. Japan’s top steelmaker said Thursday such internal disputes were not fitting during a period of uncertainty and the recent rush to develop electric vehicles. The lawsuit was filed in Tokyo in 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, alleging that it violates the patent. Baosteel is contesting the lawsuit.

Article Topic Follows: AP National

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