{"text":[[{"start":9.15,"text":"The owner of patents from a defunct Israeli start-up once seen as a pioneer in the development of electric vehicle infrastructure has accused Chinese carmaker Nio of infringing its intellectual property and demanded $250mn. "}],[{"start":23.200000000000003,"text":"Charge Peak, a British Virgin Islands-registered entity controlled by Canadian businessman Larry Krauss, on Tuesday issued a cease-and-desist letter over three European patents covering battery-swap technology that it acquired after the collapse of EV group Better Place in 2013. "}],[{"start":40.1,"text":"Better Place, set up in 2007, was an Israeli company that sought to revolutionise the car industry and reduce reliance on fossil fuels by developing networks of charging and battery-swapping stations."}],[{"start":52.35,"text":"In the complaint, lawyers for Charge Peak, accused Nio, founded by serial entrepreneur William Li in 2014, of “exploiting, without permission or licence, the Israeli Better Place model, technology, experience and IP”. "}],[{"start":66.7,"text":"Charge Peak did not demand a specific amount but said it was prepared to settle the dispute by selling all the Better Place IP that it holds, which includes more than two dozen patents, to Nio and suggested a “benchmark” of 2 per cent of the Chinese automaker’s 2025 revenue of $12.5bn."}],[{"start":85.9,"text":"“The entire EV industry knows that Better Place pioneered and registered the foundational patents for battery swap even before Nio was incorporated . . . Israeli EV knowhow was unfairly exploited to build a $16-billion company,” said Yosef Abramowitz, vice-president of finance at Charge Peak. "}],[{"start":105.4,"text":"“We are ready to negotiate in good faith for the acquisition of the entire IP portfolio,” he added."}],[{"start":111.95,"text":"Nio denied it had infringed Charge Peak’s IP, saying the technology used in its battery swap stations was “materially different from the three patents referenced in the claim”, and that it had filed more than 2,200 patents related to battery charging and swapping."}],[{"start":127.5,"text":"“Such allegations are unfounded in both fact and law, and are inconsistent with the realities of technological development in the industry as well as Nio’s actual R&D practices,” it said, adding that it would take “appropriate legal measures” to protect its “lawful rights and interests”."}],[{"start":145.8,"text":"It added: “All technologies related to Nio’s battery swap stations are the result of years of independent R&D and continuous iteration.”"}],[{"start":155.55,"text":"While disputes over patents and intellectual property are common across China’s EV landscape, including between rival Chinese groups, the claims mark a potential new twist in the turbulent history of Nio. "}],[{"start":167.95000000000002,"text":"The carmaker almost collapsed five years after its creation, before receiving nearly $1bn in a state-led bailout in 2020 and later drawing billions of dollars from Middle East investors. "}],[{"start":180.50000000000003,"text":"Nio has been on a sturdier footing in the past 18 months, despite intense domestic competition and weak demand overseas, increasing sales last year by an annual 50 per cent to more than 326,000 cars."}],[{"start":195.15000000000003,"text":"Charge Peak gave Nio until June 5 to respond to its complaint."}],[{"start":206.80000000000004,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1776917061_2017.mp3"}