BERLIN – The Volkswagen group in Germany has signed a deal with American semiconductor manufacturer Broadcom, which ended a $ 1 billion patent lawsuit that abandoned the car manufacturer against its supplier, Volkswagen told Wednesday to Reuters.
The companies signed an amicable settlement, the source said, adding that a hearing scheduled for Friday had now been canceled. Volkswagen declined to comment.
Broadcom did not respond immediately to a request for comment.
The news magazine from Der Spiegel reported in early November that California-based Broadcom had filed a patent claim for more than $ 1 billion against Volkswagen and threatened a judicial ban on the production of various car models.
Patent claims filed by vendor companies against manufacturers and often aiming for large compensation amounts are increasingly common as the digital transformation of the industry progresses.