The patents covering motors, power converters and batteries are expected to be released as early as next year.
The Japanese automaker is believed to be making the move to keep the hybrid industry humming along, where it has a clear manufacturing edge. The BBC reports that the strategy could promote hybrid cars as a bridge to fully electric vehicles, which could be of particular interest to Chinese automakers. It's also a doubling down on the company's big bet on hybrids with no pure electric vehicles in its model portfolio.
The developments at Toyota could be of interest to Nio (NYSE:NIO), Great Wall Motors (OTCPK:GWLLF, OTCPK:GWLLY), BYD (OTCPK:BYDDY, OTCPK:BYDDF), Geely Automobile (OTCPK:GELYY), Kandi Technologies (NASDAQ:KNDI), Volkswagen (OTCPK:VWAGY), Tesla (NASDAQ:TSLA) and Dongfeng Motor (OTCPK:DNFGY).
Previously: Toyota gives royalty-free access to hybrid patents (April 3)
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