Nippon Steel Corp. Drops Its Patent Lawsuit Against Toyota in Name of Partnership

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.

Read the source article at AP News