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autoevolution 12 Apr 2021, 15:37 UTC ·
by
The American auto industry breathes a sigh of relief as SK Innovation and LG Energy Solution end their litigation over trade secrets. The dispute between the two EV battery makers was threatening to leave Ford and others without their main battery supplier, and bring the construction of a Georgia-based battery factory to a halt. 1 photo
Sunday marked the end of the recent litigation between SK and LG, and a positive one indeed, since the two battery makers were able to reach an agreement without an intervention from the White House.
Earlier this year, following a U.S. International Trade Commission ruling, SK was about to be forbidden to make or sell batteries in the United States, after being accused of stealing trade secrets from LG Energy. All of this while SK had already signed big contracts with Ford and Volkswagen for battery supply and while it was building a new factory in Commerce, Georgia.
11 Apr 2021 / 09:21 H.
(Adds details on talks involving USTR)
By David Shepardson and Hyunjoo Jin
WASHINGTON, April 10 (Reuters) - South Korean battery makers LG Chem and rival SK Innovation Co have agreed to settle a trade secrets dispute that has threatened a key Georgia plant and the electric vehicle plans of Ford Motor Co and Volkswagen AG, three sources briefed on the matter said.
The Biden administration through the U.S. Trade Representative s Office (USTR) faced a Sunday night deadline on whether to take the rare step of reversing a U.S. International Trade Commission decision unless the companies had agreed a deal. An announcement of the battery makers settlement is expected soon, the sources said.