Explainer: Why is Toyota being sued by its supplier Nippon Steel?

Source: indianewsrepublic.com indianewsrepublic.com

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Tokyo: Nippon Steel of Japan is appealing that its customer, Nippon Steel, will stop manufacturing and selling vehicles containing special steel manufactured by its Chinese rival supplier Baoshan Iron & Steel (Baosteel). This highlights high interests for material producers as technology transforms the automotive industry and Japan becomes increasingly interested in protecting its supply chain and intellectual property. Here’s what’s behind the proceedings and why it’s important: What is the suit about? Nippon Steel has filed a patent infringement suit against Toyota and Baosteel in a court in Tokyo, seeking damages of 20 billion yen ($ 176 million) each. It...