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SunCar Technology Group Inc. Schedules Fiscal Year 2023 Earnings Conference Call on Tuesday, April 30th at 5 p.m. ET

NEW YORK, April 24, 2024 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, will announce its financial results for Fiscal Year 2023 on Monday, April 29th before the market opens. SunCar will host a conference call on Tuesday, April 30, at 5:00 PM ET (2:00 PM PT) with the investment community to discuss the Company's financial results and provide a business update. Investors may submit written questions by April 26th via e-mail to: matthew@strategic-ir.com.   CONFERENCE CALL & AUDIO WEBCAST To access the call by phone, please dial 1-877-407-0752 (international callers please dial 1-201-389-0912) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available online at https://viavid.webcasts.com/starthere.jsp?ei=1668638&tp_key=73879e5f16. A webcast replay will also be available for a limited time at the following link: https://viavid.webcasts.com/starthere.jsp?ei=1668638&tp_key=73879e5f16. About SunCar Technology Group Inc. Originally founded in 2007, SunCar is transforming the customer journey for auto services and auto insurance in China, the largest passenger vehicle market in the world. SunCar develops and operates cloud-based platforms that seamlessly connect drivers with a wide range of auto services and insurance coverage options through a nationwide network of sales partners. As a result, SunCar has established itself as the leader in China in the B2B auto services market and the auto eInsurance market for electric vehicles. The Company's multi-tenant, cloud-based platform empowers its enterprise clients to access and manage their customer database and offerings optimally, and drivers gain access to hundreds of services from tens of thousands of independent providers in a single application. For more information, please visit: https://suncartech.com.   Contact Information:SunCar:Investor Relations: Ms. Hui JiangEmail: IR@suncartech.com  Legal: Ms. Li ChenEmail: chenli@suncartech.com U.S. Investor RelationsMatthew Abenante, IRCPresidentStrategic Investor Relations, LLCTel: 347-947-2093Email: matthew@strategic-ir.com

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 221 加入收藏 :
Massimo Group Expands Partnership with Global Omnichannel Retailer for Youth Series Vehicles

Mini Tractor and Mini 125 Go Kart to be Eligible for Sale in a Major U.S. Retailer in its 1,300 Stores Across 13 States GARLAND, Texas, April 24, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced it has entered into an ongoing national agreement with a global omnichannel retailer for its youth series Mini Tractor and Mini 125 Go Kart to be sold in stores. The retailer's online marketplace currently features over 100 Massimo products including the Mini Tractor and Mini 125 Go Kart in addition to those from Massimo's other product lines. With the expanded partnership, the two products will now be eligible to be stocked at over 1,300 stores in 13 states beginning May 4, 2024. Details of the retailer could not be disclosed due to confidentiality requirements. The compact and versatile gas-powered Mini Tractor Go Kart is equipped with an electric start 125cc engine delivering fun and power. Features include easy-to-use controls, comfortable seating, forward and reverse gears, all-terrain tires, headlight, front bumper bar, and hydraulic disc brake. With its compact size and increased maneuverability, the Mini Tractor is easy to transport and store, and can navigate through tight spaces with ease. Attach a yard cart or tow trailer for added versatility. From the backyard to the stockyard, the Massimo Mini Tractor is made for this. The Mini 125 Go Kart is compact in size and big on performance, with a 9HP 4-stroke single cylinder 125CC engine, 3 speed transmission, 4 corner coilover suspension, rugged steel wheels, padded water-resistant seats, headlights, taillights, and turn signals. With classic Military styling, the Massimo Mini 125 is well-equipped for light trail riding or simply cruising around the neighborhood.  Built like a tank, yet comfortable enough for two riders. "This is our first national in-store opportunity with this global retailer, representing a significant milestone for our company and distribution channel," said David Shan, Founder, Chairman & CEO of Massimo. "We continue to expand our significant partnership with this well-known retailer, with these initial products now being made available to be placed in stores across the U.S. and online. With the addition of this in-store agreement, we are well positioned to accelerate robust sales growth with the retailer and believe with successful sales we can continue to add vehicles to the in-store program. Our focus on distribution channel expansion has resulted in over 2,800 retail locations promoting our brand in 48 states where our products are distributed, and we continue to drive sales across our full motor product line of Massimo vehicles." About Massimo Group Massimo Group (NASDAQ: MAMO) is a manufacturer and distributor of powersports vehicles and pontoon boats. Founded in 2009, Massimo Motor believes it offers some of the most value packed UTV's, off-road, and on-road vehicles in the industry. The company's product lines include a wide selection of farm and ranch tested utility UTVs, recreational ATVs, and Americana style mini-bikes. Massimo Marine manufacturers and sells Pontoon and Tritoon boats with a dedication to innovative design, quality craftsmanship, and great customer service. Massimo is also developing electric versions of UTVs, golf-carts and pontoon boats. The company's 286,000 square foot factory is in the heart of the Dallas / Fort Worth area of Texas in the city of Garland. For more information, visit massimomotor.com,  massimomarine.com, and massimoelectric.com. Forward-Looking Statements This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and the use of proceeds thereof. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "predict," "project," "target," "potential," "seek," "will," "would," "could," "should," "continue," "contemplate," "plan," and other words and terms of similar meaning. These forward-looking statements include information concerning statements regarding future cash needs, future operations, business plans and future financial results; and any other statements that are not historical facts. No assurance can be given that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Massimo, including those set forth in the "Risk Factors" section of Massimo's Registration Statement on Form S-1 for the initial public offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. Massimo undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. CompanyDr. Yunhao ChenChief Financial OfficerMassimo Groupir@massimomotor.com Investor Relations Chris Tyson Executive Vice President MZ North AmericaDirect: 949-491-8235MAMO@mzgroup.us    

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 160 加入收藏 :
Marelli and Hesai showcase lidar-integrated headlamps for enhanced automotive safety

PALO ALTO, Calif., April 24, 2024 /PRNewswire/ -- Marelli, a leading mobility technology supplier to the automotive sector, and Hesai Group (NASDAQ: HSAI), a global leader in automotive-grade lidar today announced a collaboration to integrate Marelli's innovative headlamp design with Hesai's next-generation lidar technology. This unique integration seamlessly blends Hesai's new ATX lidar into Marelli's premium automotive lighting solution providing optimal object detection and enhancing overall vehicle safety, without impacting vehicle aesthetics or aerodynamics, at affordable costs. The ATX lidar is a compact and highly customizable long-range sensor specifically designed for automotive applications. Compared to the previous generation product, the new ATX has achieved a significant volume reduction of nearly 60%, which makes it much easier to integrate into the headlamp. Marelli and Hesai showcase lidar-integrated headlamps for enhanced automotive safety "Co-creating innovative solutions with our customers or partners is at the core of Marelli's approach to driving the future of mobility. This collaboration with Hesai exemplifies our design-led innovation model perfectly" said David Fan, EVP and President China, Marelli. "By combining our expertise in headlamp design with Hesai's industry-leading lidar safety technology, we have co-created a truly integrated solution that elevates safety, style and simplifies option management for future vehicles" stated Peter Cao, Head of Marelli Automotive Lighting & Sensing business in APAC. "The collaboration between Hesai and Marelli signifies a major step forward in the development and adoption of lidar technology for the automotive industry," said David Li, Co-founder, and CEO of Hesai. "This groundbreaking headlamp-lidar integration paves the way for automotive OEMs to improve vehicle safety in a wide range of models by adding powerful lidar technology without sacrificing vehicle design and for a safer future where intelligent driving systems can be offered as part of nearly any vehicle." Marelli's innovative headlamp design with Hesai lidar integration offers several key advantages: Enhanced Safety: The precise positioning of the lidar within the headlamp ensures optimal coverage of the road and surrounding environment, enabling superior object detection and ranging for advanced driver-assistance systems (ADAS) and autonomous driving functionalities. Marelli's new headlamp design is offered in two customized options to meet the diverse preferences of customers, accommodating both cost-effective and luxury car models. Seamless Integration: The compact design of the ATX lidar allows for effortless integration within the headlamp unit, maintaining the vehicle's sleek aesthetics and aerodynamic profile while also saving on material costs. Improved Performance: The placement of the lidar within the headlamp provides a natural solution for keeping the sensor clean during operation, maximizing sensor performance in all weather conditions. Marelli's new headlamp design both protects the lidar sensor and makes it easier to keep the lidar sensor clean which helps ensure the lidar is in optimal working order to support intelligent driving functions. In addition, the solution also ensures affordability and cost competitiveness. Marelli will be hosting live demonstrations of the new headlamp concept with Hesai lidar integration at the 2024 Beijing Auto show, which runs April 25 - May 4.  About MarelliMarelli is a leading mobility technology supplier to the automotive sector. With a strong and established track record in innovation and manufacturing excellence, our mission is to transform the future of mobility through working with customers and partners to create a safer, greener, and better-connected world. With around 50,000 employees worldwide, the Marelli footprint includes 170 facilities and R&D centers across Asia, the Americas, Europe, and Africa. About Hesai TechnologyHesai Technology (Nasdaq: HSAI) is a global leader in lidar solutions. The company's lidar products enable a broad spectrum of applications including passenger and commercial vehicles with Advanced Driver Assistance Systems (ADAS), autonomous driving vehicles, and robotic applications such as last-mile delivery robots and AGVs. Hesai seamlessly integrates its in-house manufacturing process with lidar R&D and design, enabling rapid product iteration while ensuring high performance, high quality and affordability. The company has superior R&D capabilities across optics, mechanics, electronics, and software. Hesai has established offices in Shanghai, Palo Alto and Stuttgart, with customers spanning over 40 countries.

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 151 加入收藏 :
Building Better Cities: SANY Group Supports New Zealand Tourism Through Infrastructure Transformation and Upgrading

SHANGHAI, April 24, 2024 /PRNewswire/ -- SANY Group (SANY) is taking part in the road construction project in New Zealand's Bay of Plenty, the 12th road upgrading project in New Zealand as the country embarks on major upgrades to its transport infrastructure. SANY Supports New Zealand Tourism Through Infrastructure Transformation and Upgrading Globalization is an important element of SANY's development strategy, with the goal of building a better world. The group has been actively exporting high-end equipment to support urban upgrading and infrastructure projects around the world. Upon completion, the Bay of Plenty road will provide more convenient and safer transportation options to the local communities and tourists visiting the region. SANY has delivered three pieces of road construction equipment that are working in synchronization to guarantee both construction quality and efficiency: STR30C-8 lightweight double-drum roller: it's equipped with a Yanmar engine with robust power and offers the choice of front and rear, single and double drum vibration, which can be switched flexibly under any working conditions. The model's high compaction and high-density rolling quality can meet the strict requirements of highway construction. SSR180C-8 single-drum roller: the cabin is certified by Rops/Fops, standard configuration includes a reversing camera and full LED lights to provide a more comfortable and safer operating environment. SMG200C-8 motor grader: the robust model has a Meikang engine with 186KW power, coupled with direct-drive powershift transmission, smooth shifting, and quick response to ensure operation with precision, the easy-to-maintain rotary support device also reduces cost and boosts reliability and durability. As a leading supplier of complete road construction equipment, SANY has built a comprehensive product portfolio of five core categories – pavers, rollers, graders, milling machines, and asphalt mixing plants. In 2021, SANY's hydraulic roller, asphalt plant, and pavers had the highest market share in China, according to the statistics from the China Construction Machinery Industry Association (CCMIA). "With short winters and long summers, the Bay of Plenty is one of New Zealand's sunniest and most popular vacation destinations. Its breathtaking natural beauty and unique culture attract numerous tourists from around the world, and we're delighted to support the construction of the roads with our products to help build a better Bay of Plenty, and we look forward to participating in more projects that will create better tourism experiences for visitors from all over the world," said by Jat Zhang, Country General Manager of SANY. SANY Supports New Zealand Tourism Through Infrastructure Transformation and Upgrading

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 558 加入收藏 :
Volvo Cars reports 8 per cent increase in Q1 2024 core operating profit to SEK 6.8 billion

Q1 revenue was SEK 93.9 bn (SEK 95.7 bn in Q1 2023)  Q1 operating income (excl. JVs and associates) was SEK 6.8 bn (SEK 6.3 bn in Q1 2023)  Q1 EBIT margin (excl. JVs and associates) was 7.2 per cent (6.6 per cent in Q1 2023)             Q1 Basic earnings per share was SEK 1.12 (SEK 1.21 in Q1 2023)  Q1 fully electric car sales share at 21 per cent (18 per cent in Q1 2023)  GOTHENBURG, Sweden, April 24, 2024 /PRNewswire/ -- Volvo Cars today reports an operating profit (EBIT) excluding joint ventures and associates of SEK 6.8 billion for the first quarter of 2024, an increase of 8 per cent versus the same period in 2023. The corresponding EBIT margin came in at 7.2 per cent, up from 6.6 per cent a year earlier.  The interim report for the first quarter results can be found here.   During the first quarter, retail sales rose by 12 per cent year-on-year to 182,687 cars, with a new all-time sales record for a single month in March. A strong performance in Europe and the US contributed to the company's sales growth, and it recorded new sales records for the first quarter in 11 markets, including in Germany, France, the Netherlands, Canada and Turkey.  Revenue for the period came in at SEK 93.9 billion, versus the SEK 95.7 billion reported in Q1 2023. This was primarily due to lower revenue from contract manufacturing. In addition, some foreign exchange effects as well as the company's sales mix affected revenues, although the company maintained a healthy price discipline.  41 per cent of Volvo Cars' global volume during the quarter consisted of plug-in hybrid (PHEV) and fully electric (EV) cars, while its EV share of sales rose to 21 per cent from 18 per cent a year earlier. This demonstrates that the company is on track towards its annual sales target of at least 15 per cent growth in 2024, with a balanced premium product strategy that offers competitive EVs alongside attractive plug-in and mild hybrids. In Europe, Volvo Cars was the third largest brand in EV sales, while the XC60 PHEV was the best-selling plug-in hybrid in the region during the first quarter.  First-quarter gross margins on the company's EVs improved to 16 per cent from 7 per cent in the same quarter last year, which is among the best in the industry. This reflects the strong customer demand for the new Volvo EX30  SUV, which is set to bring in gross margins of 15-20 per cent, as well as improved margins on the EX40 and EC40 models. Volvo Cars will continue to work diligently to further close the margin gap with combustion engine-powered cars.  "We have had a strong start to the year, with our first quarter results laying a solid foundation for the year ahead," says Jim Rowan, chief executive officer of Volvo Cars. "We reported double-digit retail sales growth during the quarter, set a new all-time sales record for a single month in March and continued to ramp up production and customer deliveries of the EX30. We delivered improved EV gross margins, which reached 16 per cent, and increased our EV share of sales to 21 per cent."  "At the same time, we secured shareholder support to distribute a majority of our shareholding in Polestar, allowing us to fully focus on our core operations," adds Jim Rowan. "We remain focused on costs and capital allocation to ensure cash and liquidity are at a healthy level. I am confident these actions will make 2024 another milestone year in our ongoing transformation."  EX30 as a crucial growth driver  Its first quarter performance demonstrates the prospects of the EX30. In only a few months, the EX30 has lived up to its promise of being a profitable growth driver for the company's business while collecting numerous awards – most recently it won the 2024 World Urban Car of the Year accolade and the Red Dot 'Best of the Best' Design award.  In the first three months of 2024, thousands of customers across Europe got behind the wheel of an EX30, with many more in line as Volvo Cars prepares to deliver EX30 cars in other countries as well, including the US, China, South Korea and Canada, in the coming weeks and months. This means by the end of this year, EX30 will be sold in over 90 countries.      Along with the EX30, the company has now also started producing the fully electric EM90 MPV for China, with the first customer deliveries made in March. During the first half of the year, Volvo Cars will also start production of the EX90 flagship SUV. This means that it will bring three EV models with the company's newest technologies in three different segments to the market in 2024.   At the same time, it will continue to offer very attractive plug-in hybrids and mild hybrids for years to come, as part of its balanced premium product strategy. The company has updated several of those models recently and will continue to do so.  Free cash flow in the quarter came in as planned at SEK –12 bn due to increased production and build-up of EX30 inventory, in addition to usually seasonally lower cash flow in Q1. Volvo Cars continues to focus on internal efficiency and takes cost actions where it can, while ensuring capital allocation across its business to support its investments.   As a result, the company expects free cash flow generation to be neutral in 2024 and 2025. From 2026 onwards, it expects to deliver strong cash flows as the scale of investments declines and it starts reaping the long-term benefits of its strategy with higher revenue and profitability.   Volvo Cars shareholders recently also approved the company's plan to lower its shareholding in Polestar to 18 per cent from 48 per cent. Volvo Cars believes this is a good and natural moment for a transition of its relationship with Polestar, which allows it to fully focus on its own investment plans, while Geely has expressed it will take full responsibility for continued operational funding for Polestar going forward. However, the close collaboration between Polestar and Volvo Cars in various areas will continue to the benefit of both companies.  Looking ahead  Volvo Cars expects demand for its cars to remain robust in coming quarters and in line with its guidance of full-year sales growth of at least 15 per cent. The company also expects cash flow to improve in coming quarters which should enable it to be cash-neutral for the full year.  Volvo Cars remains firmly focused on achieving profitable growth and expects 2024 to be another solid year after the record year of 2023. At the same time, the company is mindful that the external environment continues to be challenging, as geopolitical uncertainties and macroeconomic headwinds remain.   Volvo Cars believes that its balanced product portfolio of fully electric cars and world class plug-in and mild hybrids, along with its increased focus on cost actions, will help it navigate these headwinds. That positions the company to achieve its ambitions of revenues of between SEK 550-600 billion and an EBIT margin above 8 per cent* during 2026.  "Our strategic planning and execution are working well and our balanced approach positions us to deliver on our transformation journey," says Jim Rowan. "It allows us to react to changing market demands quickly and effectively."  Volvo Cars' balanced approach is focused on 5 areas:   Product – a strong competitive offer with cars in many sizes and segments: 30, 40, 60 and 90 range, SUVs, sedans, wagons and MPVs, to meet the various needs of its global customer base.   Propulsion – mild hybrids, plug-in electric hybrids and fully electric cars.  Production –  manufacturing facilities in every region: Asia, Europe and the USA. This aspect has become more important as the trade environment continue to change across the world.   Pricing – balanced price discipline across its various model choices, via its Core, Plus or Ultra variants.  Partnerships – carefully balanced its choices between investing in internal development and building key partnerships with some of the world's leading tech companies, such as NVIDIA, Qualcomm, Google and Apple. It has also developed a strong retail and service dealership structure in all regions, with over 2,200 retail partners across the globe.   "This balanced approach to our strategy has been created over many years and it positions us well globally," says Jim Rowan. "It is a key aspect towards continued growth. As I have said many times over my career: business is not a game of perfection, it is a game of continuous progress. This balanced strategy allows for that."  *EBIT excl. JVs and associates This disclosure contains information that Volvo Car AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 24-04-2024 07:00 CET. For further information please contact:Volvo Cars Media Relations+46 31-59 65 25media@volvocars.com Volvo Cars Investor Relations John Hernander+46 31-793 94 00investors@volvocars.com This information was brought to you by Cision http://news.cision.com https://news.cision.com/volvo-car-ab--publ-/r/volvo-cars-reports-8-per-cent-increase-in-q1-2024-core-operating-profit-to-sek-6-8-billion,c3966056 The following files are available for download: https://mb.cision.com/Main/20685/3966056/2753770.pdf Volvo Cars Q1 report 2024 https://news.cision.com/volvo-car-ab--publ-/i/light-version-skw-127-ex40,c3292463 Light version-SKW 127 EX40  

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LG Energy Solution to Take Firm Stance Against Patent Infringers

A surge in patent infringement by latecomers in the battery industry, and subsequent market distortion caused by unlicensed use of patented technology, calls for strong countermeasures to level the playing field LG Energy Solution believes that at least 500 patents directed to its first through third-generation battery technologies cover the current state-of-the-art battery products The company intends to lead the establishment of a battery patent licensing market by creating a global patent pool SEOUL, South Korea, April 24, 2024 /PRNewswire/ -- LG Energy Solution (KRX: 373220), a battery pioneer that has led technology innovation and development in the global battery industry over the past 30 years, announced it will take strong countermeasures against "patent free riders." LG Energy Solution is evaluating all options in this regard, including issuing warning notices or filing patent infringement lawsuits against those infringing on its patents. At the same time, it will also commit to driving fair competition in the industry by establishing a legitimate battery patent licensing market. The company sees a rising tide of latecomers' deliberate and blatant unauthorized use of its patents across a wide range of commercialized products, including batteries for consumer electronics, energy storage systems (ESS), and electric vehicles (EV). [Example 1] EVs. Battery manufacturers supplying batteries to automakers that market EVs in Europe. After only a preliminary review of competitor EV batteries, LG Energy Solution has discovered these manufacturers may have violated more than 30 of its patents covering major components and manufacturing technologies, including coated separator, cathode material, structures of battery cells and electrodes. Analysis is on-going. [Example 2] Consumer devices. Battery manufacturers supplying batteries to world-renowned electronics companies. Laptops and cellphones that are powered by these batteries are actively sold in Europe and China. Again, after only an initial investigation, LG Energy Solution has identified more than 50 potential instances of unauthorized use of its patents on technologies including coated separator, cathode material, and electrolyte additives. LG Energy Solution has previously taken significant measures to protect its intellectual property (IP), including filing successful trade secret misappropriation and patent infringement lawsuits against its competitors with the United States International Trade Commission, German courts, and others. Nevertheless, the company says its patent rights are continuously being violated by "patent free riders" who reap the benefits of LG Energy Solution's and other market leaders' R&D and proprietary rights by offering infringing products without license. Major multinational manufacturers of end-products containing these infringing batteries appear to be overlooking their suppliers' non-compliance with patent rights. Such widespread disregard within the industry has led to severe market distortions, now demanding industry leaders like LG Energy Solution to take action and adopt stronger countermeasures. "LG Energy Solution is the 'original innovator' in the global battery industry, and we have pioneered the global market through continuous technological development and breakthrough innovations since the inception of the industry," said Han Sun Lee, Head of the IP Center at LG Energy Solution. Lee further stated, "To safeguard our technological leadership and promote collective growth in the industry, we will commit ourselves to establishing a fair patent licensing system and take strict measures against unlawful infringements." Infringement of LG Energy Solution's core patents are on the rise, and next-generation technologies may face similar threat As a pioneer of the industry, LG Energy Solution has already secured patent protection for core technologies across all areas of the battery industry, including battery materials, manufacturing, battery pack and battery management systems (BMS). From the first-generation technologies that are already commercialized for mass-production to cutting-edge third-generation technologies, the company has filed more than 58,000 patent applications worldwide, and secured more than 30,000 issued patents. The global battery industry has also seen exponential growth in the past decade: the size of EV battery market has increased by approximately 25 times from 2015 (28GWh) to 2023 (706GWh), and it is expected to reach 5,256GWh in 2035.[1] Such rapid market growth has intensified the competition, leading to a surge in IP infringement. Many latecomers have not been diligent in obtaining patents, and yet, are trying to enter major markets such as Europe, China, India, and Southeast Asia through patent "free riding". LG Energy Solution has begun review of its portfolio and has identified over 1,000 patents in its portfolio as being "highly strategic" patents[2] of which 580 are likely infringed by competing battery manufacturers. By all indications, it would be nonsensical for a latecomer to ignore the risk of patent infringement and develop batteries without licensing LG Energy Solution's foundational patent rights. Some examples of this include: LG Energy Solution's patents relating to increased adhesiveness of the ceramic coated separator, which enables the adaptation of various sophisticated designs of electrode assembly structures; LG Energy Solution's patented Double Layer Slot Die Coating (DLD) process for anode (world's first commercialization by LG Energy Solution in 2018) and pre-dispersion process for carbon conductive materials in their electrode design; LG Energy Solution's patents on electrolytes for high voltage and high efficiency batteries and Mid-Ni NCM[3] (NCM523, 622) cathode materials; LG Energy Solution's patents on important surface treatment methods for cathode materials and useful compositions of mixed cathode materials (NMC mixed with LFP[4], LCO[5], and/or LMO[6]), both of which LG Energy Solution was the first to commercialize; and LG Energy Solution's patents on silicon anode technologies. The risk of patent infringement by latecomers extends to next-generation battery technologies, as the company holds many core patents in these areas. For example, LG Energy Solution has secured core patents directed to the dry coating process, an environment-friendly and price-competitive technology that does not use organic solvents, and the next-generation cylindrical 46-Series battery technology. It also holds core patents on BMS, with key emphasis on safety diagnosis technology developed using decades of accumulated R&D data, all of which will be essential for the growth of EV market in the future. LG Energy Solution to lead the establishment of a global patent pool in the battery industry After decades of market leadership, LG Energy Solution now aims to lead the establishment of a fair battery patent licensing market to protect its innovative technologies and uphold fair market competition. To achieve this objective, the company will consider utilizing various patent monetization models such as patent pooling or sales. The company will first form a global patent pool using its patents that are currently believed to be infringed by commercialized products in the market, and then efficiently manage its licensing activities by licensing out key patent portfolios in phases. Similar to how patent licensing has taken an active role in the advancement of major industries including semiconductors and IT, LG Energy Solution believes that a fair patent licensing opportunity is essential for the overall advancement of the global battery industry. Such fair licensing would lead to a virtuous cycle, as leading players will be able to utilize their royalty proceeds to increase their investments in new technologies, while latecomers could further enhance their product competitiveness by adopting advanced technologies through licensed use, eliminating their exposure to patent infringement risk. However, if LG Energy Solution's patent licensing efforts are not appreciated by latecomers to the market, it will have to resort to other countermeasures to aggressively enforce its patent rights, including filing patent infringement lawsuits in a court. To this end, LG Energy Solution will enhance its global litigation capabilities by securing experts in major markets such as the U.S., Europe, and China. At the same time, it will expand and invest in its regional IP offices abroad in charge of the systematic management and oversight of global IP prosecution and enforcement activities. "Respecting intellectual property rights is essential for fostering fair competition in the global market. To ensure the advancement of the overall industry and the company, we will protect our intellectual properties and take bold countermeasures on patent infringements," said David Kim, CEO of LG Energy Solution. "As an industry leader, we will also lead the establishment of a legitimate battery patent licensing market. By utilizing fair return on our IP, we will actively pursue the development of core future technologies, providing differentiated values to our customers." About LG Energy Solution LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 58,000 patents. Its robust global network, which spans North America, Europe, and Asia, includes battery manufacturing facilities established through joint ventures with major automakers. Committed to building sustainable battery ecosystem, LG Energy Solution aims to achieve carbon neutrality across its value chain by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. To learn more about LG Energy Solution's ideas and innovations, visit https://news.lgensol.com. [1] Reference: SNE Research [2] Strategic patents: Patents on which infringements were found or are expected, based on the benchmark analysis on competitors' products, market information, or technological information [3] NCM: nickel cobalt manganese [4] LFP: lithium iron phosphate [5] LCO: lithium cobalt oxide [6] LMO: lithium manganese oxide  

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