The global technology industry experienced a 42% decline in the number of electric vehicles-related patent applications in Q4 2023 compared with the previous quarter. The total number of electric vehicles-related grants dropped by 9% in Q4 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Technology: Patents Trends Q4 2023 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.

Notably, the number of electric vehicles-related patent applications in the technology industry was 797 in Q4 2023, versus 1,378 in the prior quarter.

The top five companies accounted for 16% of patenting activity

Analysis of patenting activity by companies shows that BYD filed the most electric vehicles patents within the technology industry in Q4 2023. The company filed 34 electric vehicles-related patents in the quarter, compared with 54 in the previous quarter. It was followed by Kia with 26 electric vehicles patent filings, Hyundai Motor (26 filings), and LG Display (25 filings) in Q4 2023.

Patenting activity was driven by the US with a 31% share of total patent filings

The largest share of electric vehicles related patent filings in the technology industry in Q4 2023 was in the US with 31%, followed by China (18%) and Japan (9%). The share represented by the US was 13% higher than the 19% share it accounted for in Q3 2023.

For further understanding of GlobalData's Technology: Patents Trends Q4 2023, buy the databook here.

This content was updated on 23 January 2024

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.