Japanese carmaker, Toyota, plans to make thousands of patents relating to its hybrid technology royalty-free to help keep the technology relevant by encouraging competitors to enter the market. Toyota said today that it would release nearly 24,000 patents for vehicle electrification technology. It also pledged to offer paid-for technical support to other manufacturers using Toyota’s technology, with the aim of expanding the use of such vehicles. The move is intended to keep hybrid vehicles relevant in an industry that is looking to shift to fully electric vehicles. Toyota has long maintained that hybrid vehicles are a cost-effective alternative to conventional vehicles, negating the need for charging infrastructure and delivering roughly double their fuel efficiency with comparable driving ranges. The latest strategic shift is expected to help Toyota, which pioneered the production of hybrid vehicles but has lagged behind on fully electric cars, buy time for its own transition to newer technology. The patents will be especially relevant for Chinese automobile companies as they look to comply with tougher emissions regulations.

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Financial Times