Toyota Maintains Leadership in Automotive Innovation, Top Spot Among Automakers in Annual U.S. Patent Ranking

Rhea-AI Summary

Toyota leads the automotive industry for the 10th consecutive year by securing 2,667 patents in 2023, showcasing innovations in areas like vehicle seat technology, carbon fiber composites, and in-vehicle wireless power systems.

Automotive Industry Analyst

The sustained leadership of Toyota in acquiring patents within the automotive industry highlights the company's aggressive research and development (R&D) strategy. Toyota's significant investment in R&D, to the tune of approximately $1 million per hour, is a clear indicator of its commitment to innovation and its potential to maintain a competitive edge in the market. The emphasis on areas such as electrification and intelligent transportation solutions is particularly noteworthy, as these are sectors expected to drive future growth within the industry.

Toyota's focus on lightweight materials, such as the Woven Carbon Fiber Reinforced Steel Matrix Composite and the development of Systems and Methods with Dual Function Coil for wireless power transfer, aligns with industry trends aimed at increasing efficiency and reducing environmental impact. These advancements could lead to cost savings in production and vehicle operation, ultimately enhancing Toyota's product offerings and market share. Investors may view these continuous innovations as indicators of Toyota's long-term value and its ability to adapt to evolving market demands.

Patent Strategy Expert

Toyota's decade-long streak of leading the automotive sector in patent acquisitions from the USPTO demonstrates a robust intellectual property (IP) strategy. The company's ability to secure a high volume of patents during a year when there was a 3% decline in overall patents granted is significant. This not only underscores the company's IP prowess but also its resilience during industry-wide downturns.

Patents are a key asset in protecting innovations and can provide a competitive moat against rivals. The strategic filing with the USPTO ensures that Toyota's innovations, such as the Kinetic Seat Cushion for Vehicles and other technologies, are safeguarded in a major market like the United States. For stakeholders, this could mean a sustained advantage and the potential for licensing revenues. Moreover, a strong patent portfolio is often an attractive quality to investors, as it may signal a company's potential for long-term revenue through innovation leadership.

Market Research Analyst

Toyota's patent achievements contribute to a narrative of leadership and forward-thinking within the automotive industry. The company's innovations reflect an acute awareness of consumer and industry trends, such as the demand for more sustainable and efficient vehicles. The focus on advanced technological solutions indicates that Toyota is not only responding to current market demands but also shaping future industry standards.

As Toyota continues to invest heavily in R&D, its patent portfolio expansion may serve as a bellwether for the company's future direction and the broader automotive market's trajectory. Analysts and investors often look at R&D metrics and patent data to gauge a company's innovation health, which can influence market sentiment and stock performance. Toyota's ongoing commitment to innovation, as evidenced by its patent acquisitions, can be seen as a positive signal for its future market performance and ability to meet the demands of a rapidly changing automotive landscape.

• Toyota leads automotive industry for 10^th consecutive year
• Toyota received 2,667 patents in 2023.

ANN ARBOR, Mich., March 12, 2024 /PRNewswire/ -- Securing its position at the forefront of U.S. automotive innovation for the 10th consecutive year, Toyota has been awarded more patents from the United States Patent and Trademark Office (USPTO) than any other automaker according to an annual report by the Intellectual Property Owners Association (IPO).

Despite a challenging year that saw a 3% overall decline in patents granted across all industries in the United States, Toyota ranked seventh among all companies awarded patents in 2023, receiving a total of 2,667 patents.

"This achievement continues to underscore Toyota's unwavering commitment to innovation, particularly in areas critical to the future of mobility such as electrification and intelligent transportation solutions," said Sandra Phillips Rogers, senior vice president of Corporate Resources and chief legal officer at Toyota Motor North America. "Our focus is on creating sustainable and advanced technological solutions and contributing to the betterment of society and the industry at large, all while ensuring our innovations are recognized through filings with the USPTO."

Toyota's 2023 patents showcase the company's wide-ranging innovations, including:

• Kinetic Seat Cushion for Vehicles – A key element of the IsoDynamic Performance Seat, debuting exclusively on the all-new 2024 Toyota Tacoma TRD Pro that helps provide a smooth, confidence-inspiring ride for those in the driver and front passenger seats. The ISO D seat assembly absorbs vehicle inputs vertically and laterally, reducing the overall load and impacts onto the vehicle occupant. 
• Woven Carbon Fiber Reinforced Steel Matrix Composite – A carbon fiber fabric of long, organized fibers within a steel matrix that produces a lighter weight material without sacrificing performance. By layering the carbon fiber in a weaving pattern sintered with steel nanomaterial, the composite is stiff. This innovation can be used for lightweighting vehicle parts where engineered forms of steel are needed.  
• Systems and Methods with Dual Function Coil Providing In-vehicle Wireless Power – This innovation for traction-battery-equipped vehicles (PHEVs & BEVs) uses a dual function coil, installed in the vehicle, that can wirelessly receive power from the grid for recharging the battery and transmit power for the integrated auxiliary power supply. The technology eliminates the need for bulky cables, many connectors, and duty plugs to provide in-vehicle charging and small load power supply (for cabin lights, screens, mobile devices, etc.), thereby enhancing convenience and system integration as well as reducing space needs, cost, and weight of the vehicle.

"Toyota team members work very aggressively at research and development to discover cutting-edge technology for propelling the company forward," said Frederick Mau, intellectual property counsel and director of Patent Licensing for Toyota Motor North America. "It's impressive to see the fruits of their efforts reflected in these rankings every year."

Globally, Toyota spends approximately $1 million per hour on R&D, to ensure that Toyota rapidly and continuously develops cutting-edge, high-quality, and appealing vehicles and technologies. This commitment ensures that Toyota not only delivers on the needs of customers but also anticipates its role in future societal progress.

About Toyota

Toyota (NYSE:TM) has been a part of the cultural fabric in North America for more than 65 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands, plus our more than 1,800 dealerships.

Toyota directly employs more than 63,000 people in North America who have contributed to the design, engineering, and assembly of nearly 47 million cars and trucks at our 13 manufacturing plants. By 2025, Toyota's 14th plant in North Carolina will begin to manufacture automotive batteries for electrified vehicles. With more electrified vehicles on the road than any other automaker, Toyota currently offers 27 electrified options.

For more information about Toyota, visit www.ToyotaNewsroom.com.

About TMNA R&D

For more than 50 years, Toyota Motor North America Research & Development (TMNA R&D) has led engineering for several of the best-selling Toyota vehicles on U.S. roads. Teams are now creating both next-generation vehicles and new and advanced mobility concepts that can better move people, goods and information. Toyota's innovation has produced more patents from the United States Patent and Trademark Office than any other automaker for the past 10 consecutive years (2,667 in 2023). Centered in Ann Arbor, Michigan, TMNA R&D is pursuing Toyota's mission to "Produce Happiness for All" by making life safer, easier and more enjoyable. Globally, Toyota spends approximately $1 million per hour on R&D to ensure that Toyota rapidly and continuously develops cutting-edge, high-quality, and appealing vehicles.

Media Contacts
Rick Bourgoise
Richard.bourgoise@toyota.com  

Olivia Boisineau
Olivia.boisineau@toyota.com

 

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SOURCE Toyota Motor North America

How many patents did Toyota receive in 2023?

Toyota received a total of 2,667 patents in 2023, ranking seventh among all companies awarded patents.

What are some of the key innovations showcased in Toyota's 2023 patents?

Some key innovations include the Kinetic Seat Cushion for Vehicles, Woven Carbon Fiber Reinforced Steel Matrix Composite, and Systems and Methods with Dual Function Coil Providing In-vehicle Wireless Power.

How much does Toyota spend on R&D globally?

Toyota spends approximately $1 million per hour on research and development globally to ensure continuous development of high-quality vehicles and technologies.