Hyundai Motor Ranks 10th in US Electric Vehicle Patents... Toyota Takes 1st Place

LG Chem and 4 Others Rank in Top 50
Many Japanese Patents but Poor Sales

[Asia Economy Reporter Kwon Jae-hee] It has been revealed that Japanese automakers hold the most core patents related to electric vehicles (EVs). South Korea had five companies listed among the top 50. Since electric vehicles and hybrid vehicles share many common components, Japan's accumulated technological expertise in developing and commercializing hybrid vehicles is analyzed to be the reason why it leads in the electric vehicle sector as well. However, Japan's market share in electric vehicles is low compared to its technological capabilities. There are concerns within Japan that if technological prowess is not translated into sales performance, Japan could be overtaken by South Korea and China even in terms of technology.

On the 2nd, the Nihon Keizai Shimbun, in collaboration with patent research firm Patent Result, conducted a survey on the status of EV-related patent holdings in the U.S. market, revealing that Toyota Motor Corporation ranked first. Nihon Keizai and Patent Result evaluated the importance of electric vehicle-related patents with scores and ranked companies accordingly. EV-related patents include not only vehicle components such as motors and batteries but also infrastructure like charging facilities. Japanese companies accounted for 21 out of the top 50 companies (40%), including Toyota at first place and Honda at third.

The country with the next highest number of companies holding important patents after Japan was the United States (13 companies). The U.S. had several companies in the top 10, including Ford, which ranked second overall, as well as General Motors (GM) and Tesla.

South Korea and Germany each had five companies listed. Among South Korean companies, Hyundai Motor Company was the only one in the top 10, ranking 10th. Following were LG Chem (11th), Kia Motors (20th), Samsung Electronics (27th), and Samsung SDI (28th).

Chinese companies were limited to two, including BYD, which ranked 32nd.

The source of Japan's electric vehicle technological competitiveness lies in its experience developing hybrid vehicles that captured the market early. Hybrid vehicles and electric vehicles share many common parts such as motors and batteries. Toyota holds a competitive edge in the hybrid vehicle sector, particularly specializing in battery control technologies such as charging and discharging. The technology accumulated through the development of the world's first mass-produced hybrid vehicle, the Prius, commercialized in 1997, has influenced the establishment of its electric vehicle technological competitiveness.

Japanese companies possess technological capabilities but have poor sales performance. According to EV Sales, a U.S. electric vehicle sales research firm, Tesla ranked first globally in sales of electric vehicles and plug-in hybrid vehicles in 2020. Seven Chinese companies, including BYD, were among the top 20, accounting for 2% of total sales. In contrast, Nissan, which ranked 14th, had the highest sales among Japanese companies, while Toyota was only 17th.

Senior Researcher Fukao Sashiro of Itochu Corporation pointed out, "The most urgent task for Japanese automakers is to integrate technology into business. If they fail in this, they may follow the same path as Japanese electronics companies that were overtaken by South Korea and China in the past."

This content was produced with the assistance of AI translation services.