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Native name | Paice LLC |
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Company type | LLC [1] |
Industry | Automotive |
Founded | 1992 |
Founder | Alexei Severinsky |
Headquarters | , |
Number of locations | 1 |
Key people | Frances Keenan (Executive Chairman) [1] |
Website | www |
Paice is a hybrid technology company headquartered in Baltimore. The company develops transitory technology for gas-driven and electricity-driven vehicles.
Paice was founded by Alexei Severinsky, a Russian emigrant, in 1992. [2] Paice originally developed early hybrid-electric powertrain concepts for passenger vehicles. In recent years, Paice LLC has been controlled by the Abell Foundation and has focused on patent litigation. Paice has sued Toyota, Ford, and most recently Hyundai for allegedly infringing on its patents.
Paice develops hybrid vehicle drivetrains used in the automotive industry. Hybrid technology developed by Paice are applied in various vehicles such as the Toyota Prius, Ford C-MAX, and Porsche Cayenne E-Hybrid. Besides development marketing, the company also focuses on defending its patents.
Paice holds about 29 patents that are related to hybrid vehicle drivetrains. [3]
Core patents are:
The company has patent conflicts with Hyundai because of its Hyundai Sonata Hybrid, and Kia, because of its Kia Optima hybrid car. Millions of dollars of compensation have been successfully claimed. [2]
Similar claims against Ford in 7 of 25 patent appeals by Ford ended up in final decisions by the US patent office USPTAB in favor of Paice. Further decisions are in progress. [8] [9] [10] [11] [12] [13] [14]
Paice's claims were backed by the Abell Foundation, a risk capital partner. [15] [16] [17]
In 2016 Paice said that VW, Audi, and Porsche used Paice patented technology infringing Paice's patents. [18] [19] [20] This dispute was settled in early 2017 and the terms of the settlement are confidential. [21]
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Alexei "Alex" Severinsky is an American engineer immigrated from post-Soviet Russia. He graduated with Master of Science degree from the Kharkiv National University of Radioelectronics in 1967 and got his Candidate of Science degree (Ph.D.) in Electrical Engineering from Institute for Precision Measurements in Radioelectronics and Physics in Moscow in 1975. Before the emigration he worked in Kharkiv, Ukraine. Severinsky emigrated from the Soviet Union to the United States in 1978.
Ford Motor Company is an American multinational automobile manufacturer headquartered in Dearborn, Michigan, United States. It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobiles and commercial vehicles under the Ford brand, and luxury cars under its Lincoln brand. The company is listed on the New York Stock Exchange and is controlled by the Ford family. They have minority ownership but the majority of the voting power.