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Hyundai-Kia Settles with Paice Over Hybrid Patents
Hyundai Motor Co. and its Kia Motors Corp. affiliate have agree to pay royalties to Baltimore, Md.-based Paice Ltd., for their use of Paice patents relating to powertrain controls for hybrid vehicles.
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Hyundai Motor Co. and its Kia Motors Corp. affiliate have agreed to pay royalties to Baltimore, Md.-based Paice Ltd., for their use of Paice patents relating to powertrain controls for hybrid vehicles.
Details weren’t released. But the agreement follows a federal jury ruling two months ago that the carmakers should pay Paice $29 million for intentionally infringing upon the U.S. company’s patents.
Over the past five years Paice has reached patent licensing deals with Ford and Toyota. Paice says it agreements now cover about 90% of hybrid powertrains sold in the U.S. The company adds that it hopes to sell licenses to other major carmakers.
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