A Driving Force Behind Today’s Hybrid Vehicle Technology
Paice has been at the forefront of hybrid technology for more than 20 years. Led by an innovative and experienced team of automotive veterans, Paice made its mark by discovering new ways to maximize fuel efficiency and reduce harmful emissions without sacrificing driving performance.
Popular hybrid electric vehicles in the US market
To protect our inventions, Paice filed a patent infringement lawsuit against Ford in 2014. The complaint highlights how Paice met with Ford chairman Bill Ford, Jr. and other high-level executives shortly after introducing its hybrid vehicle technology to automakers in 1999. During the next five years, Paice had 100+ meetings and interactions with Ford executives and performed detailed modeling and component design work that illustrated how Paice’s technology could improve fuel efficiency for Ford’s best-selling SUVs. At the time, Ford was under intense pressure to improve the fuel economy of its vehicles.
After learning everything it needed to know about Paice's patented hybrid technology, Ford balked when it came time to sign a licensing agreement. Ford ultimately agreed to license Paice’s hybrid vehicle technology on a limited scale and the two companies negotiated an arbitration agreement to address the future licensing of Paice’s technology. But when Ford opted out of the arbitration process, Paice was forced to file a patent infringement lawsuit. Paice currently has global licensing agreements with Toyota, Hyundai and Kia. Read more.
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Paice is a small American company that played a big role in the development of today’s hybrid vehicles. By developing hybrid technology before major automakers began to focus on the potential advantages associated with electrification of the powertrain, Paice's technology laid the foundation for cost effective hybrid vehicles that provide fuel efficiency and low emission levels. See how Paice laid the foundation for today’s hybrid vehicles.
Hybrid vehicles — which combine the use of an internal combustion engine and one or more electric motors to improve fuel efficiency — have never been more popular. The sale of hybrid vehicles continues to grow thanks to an expanding selection of vehicle choices and more competitive pricing. Learn more about hybrid electric vehicles.
Paice's inventions are considered among the most significant in the hybrid industry. An independent analysis of 58,000 hybrid vehicle patents found that Paice owned four of the Top 10 most influential hybrid vehicle patents in the world. That's more than Toyota and Ford combined. Read the Griffith Hack report.
Paice Technology Licensed by Toyota, Hyundai and Kia
Paice has licensed its hybrid technology to Toyota, which accounts for about 65% of all hybrid vehicle sales in the United States. Toyota secured a global license for all Paice technology in 2010.
On December 11, 2015, Hyundai and Kia also signed a licensing agreement with Paice. The South Korean automakers have announced plans to triple the number of fuel-efficient cars they offer with a goal of becoming number two in the world’s eco-friendly car market by 2020.
Ford has a limited licensing agreement with Paice that applies only to Paice’s first patent. When the companies were unable to reach a licensing agreement on subsequent patents, Paice filed a patent infringement lawsuit against Ford in February 2014 in U.S. District Court in Baltimore. Click here for more information.
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When Alex Severinsky came to the United States in the late 1970s, the nation was in the midst of an oil crisis and long lines for gas were commonplace. An electrical engineer, Alex began looking at alternative approaches to gasoline-powered engines and started developing ideas for a hybrid gasoline/electric powertrain that could reduce America’s dependence on oil. Years later, he founded Paice to turn that vision into reality.
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Paice, a pioneer in hybrid electric vehicle technology, has reached an agreement to license all of its hybrid vehicle technology to Hyundai Motor Co. and Kia Motors Corp. Paice has now licensed all or part of its hybrid vehicle technology portfolio to Toyota, Hyundai/Kia, and Ford – three of the world’s six largest automakers. These three companies currently account for…
Green Car Congress reports that the 2016 Chevrolet Malibu Hybrid LT will be available this spring with a starting price of $28,645. The Malibu Hybrid will offer 48 mpg city, 45 mpg highway, and 47 mpg combined (estimated). Read more.
FORTUNE recently highlighted Ford’s commitment to electric vehicles, including its plans to invest $4.5 billion and add 13 new electric cars to its lineup by 2020. Within five years, more than 40% of the Ford’s models will come in electrified versions. Ford currently sells three electric cars: the Focus (electric), Fusion (hybrid/plug-in hybrid), and C-Max (hybrid/plug-in hybrid). The 2017 Ford Focus Electric,…
Automotive News reports that Mitsubishi will introduce three electrified crossovers in the next five years. The vehicles include a new small coupe-styled crossover, a redesigned Outlander, and the next-generation Outlander Sport. Mitsubishi also will launch the Outlander PHEV, the plug-in hybrid version of the nameplate’s current generation, in the U.S. next year. Read more.
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