Toyota has settled a patent-infringement dispute that had threatened U.S. imports of its newest hybrid vehicles, including the Prius.
The agreement with Paice, ending six years of litigation, was announced Monday as a hearing was to begin on a claim against Toyota before the International Trade Commission in Washington. Terms weren't disclosed and suits pending in Texas and at a U.S. appeals court will be dismissed.
Paice founder Alex Severinsky, a Soviet emigrant who began his career developing antitank-warfare instrumentation, had said his 1994 patented system for a high-voltage method to power gas-electric hybrid cars was used by Toyota without permission. Severinsky, 65, has sought royalties from the automaker.
"Finally people understand the merits of what I invented and give it the proper value," Severinsky said. "Toyota is the leading technology company and finally appreciates the value of the invention."
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.