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Toyota’s patents strategy to make it a tier-2 hybrid vehicle systems supplier

Toyota, electrified vehicles, Toyota hybrid vehicles, Toyota hybrid patents

The company is confident that it could sell 5.5 million electrified vehicles by 2025, exceeding expectations

Akio Toyoda, head of Toyota Motor told Reuters that the company has received more than 50 business enquiries since its announcement last week that it would offer royalty-free access to 24,000 patents associated with its hybrid vehicles. The move is very effective because it also promotes the use of hybrid and fully electric vehicles in an effort to address climate change.

Toyota Executive Vice President Shigeki Terashi said “Until now we have been a tier 1 automaker, but now we also intend to become a tier 2 supplier of hybrid systems.” The patents released by the automaker giant will be available until 2030. We anticipate that there will probably be very few automakers who use our patents to develop their own hybrids from scratch, so by using our system and our components, and offering our support, we can work together to develop these cars,” Terashi said.

In an interview on Thursday at Toyota’s global headquarters, Terashi shared details of the company’s new strategy development, and the possible impact on its investment plants. “We believe that this approach will reduce investment costs significantly,” he said.

The company has set an internal goal to sell 5.5 million electrified vehicles  by 2030, from 1.6 million vehicles at present.

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