May 14, 2021

Politics & News

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AP source: Electric vehicle battery firms settle trade spat

2 min read

Two South Korean electric vehicle battery makers have settled a long-running trade dispute that will allow one of them to move ahead with plans to make batteries in Georgia

WASHINGTON — Two big South Korean electric vehicle battery makers have settled a long-running trade dispute that will allow one of them to move ahead with plans to make batteries in Georgia, a person briefed on the matter says.

The U.S. International Trade Commission decided in February that SK stole 22 trade secrets from LG Energy, and that SK should be barred from importing, making or selling batteries in the United States for 10 years.

The commission said SK could supply batteries to Ford Motor Co. for four years and to Volkswagen AG for two years.

The decision jeopardized a $2.6 billion battery factory that SK is building in Commerce, Georgia.

Politicians were calling on Biden to overrule the commission’s decision. Biden had until Sunday night to make a decision.

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Krisher reported from Detroit.

2021-04-10 23:01:54

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