Both companies filed lawsuits against the other regarding a patented technology used in hybrid versions of the Ford Fusion sedan and Escape crossover.
The dispute surrounds the same patent -- U.S. Patent No. 5,343,970 -- that Paice and Toyota Motor Corp. have been litigating over since 2005. Paice holds 11 U.S. patents related to hybrid-vehicle technology.
“We are pleased to have reached an amicable resolution,” Ford and Paice executives said in a joint statement. Neither company would comment further.
Paice is an acronym for Power-Assisted Internal Combustion Engines. The patented technology uses both an internal combustion engine and an electric motor to supply torque for the vehicle.
Paice had filed similar law suit against Japanese Auto maker Toyota in 2005, that a component used in Toyota’s hybrids is "equivalent" to a device Paice patented in 1994.
The Japanese automaker was ordered to pay royalties to Paice for the Toyota Prius, Toyota Highlander crossover and Lexus RX400h SUV.
- Autonews Inputs