Ford Motor Co.
) has appealed the court to order its hybrid-technology partner
Paice LLC to obey a patent agreement and has sued the latter for
it. In Jul 2010, Ford had signed an agreement with Paice that
gave it the right to use the Paice Hyperdrive technology, a
patent-protected invention of Paice.
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The 2010 agreement stated that Ford will pay a certain amount for
the technique to provide torque to vehicles' wheels from both the
electric motor and the internal combustion engine. The agreement
helped Ford solve the conflict with Paice.
According to the case filed by Ford in Delaware Chancery Court in
Wilmington, the automaker has demanded that Paice should follow
the agreement and hence not charge Ford for violation of patent.
Paice had also signed a licensing agreement with
Toyota Motor Corp.
) in Jul 2010. The agreement gave Toyota the right to use all
Ford posted a 12.5% rise in earnings per share to 45 cents in the
third quarter of 2013 from 40 cents in the same quarter of 2012
(all excluding special items). Earnings also outpaced the Zacks
Consensus Estimate of 38 cents.
Revenues in the quarter grew 12.2% to $36 billion, exceeding the
Zacks Consensus Estimate of $33.8 billion. The improvement was
attributable to increased wholesale volumes in automotive
business and higher market share in all regions.
Ford is one of the largest automobile producers in the world
General Motors Company
Tesla Motors, Inc.
) and Toyota. Currently, Ford retains a Zacks Rank #2 (Buy).