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LG, SK should settle dispute through dialogue
The U.S. International Trade Commission (ITC) ruled in favor of LG Energy Solution in a trade secret case against SK Innovation last Wednesday. The ITC banned SK Innovation from importation, domestic production and sales of its electric vehicle batteries in the United States for 10 years.
The ruling is expected to deal a blow to SK Innovation as the trade panel acknowledged LG s accusation that SK infringed on its trade secrets. SK seems to be expecting U.S. President Joe Biden to exercise his veto power against the ruling within the 60-day review period. Yet, such a possibility appears remote given that Biden has underlined the importance of protecting intellectual property rights and there has been no precedent of a president vetoing in intellectual property cases.
Ford Motor Co's CEO, Jim Farley, on Thursday publicly encouraged South Korea's chemicals and electric vehicle (EV) battery maker LG Chem Ltd and SK Innovation Co Ltd to reach a settlement on LG's battery allegations that SK stole trade secrets
The US International Trade Commission has handed a win to South-Korean electric vehicle battery maker LG Chem after it upheld allegations that its rival SK Innovation had misappropriated trade secrets worth $1 billion.
Ford Vs GM Battery Fight Ends With A Fizzle
Photo: Cadillac
The feds finally weighed in on the case of LG Chem (a battery supplier for GM and others) versus SK Innovation (a battery supplier for Ford and others). LG accused the SK of stealing trade secrets and wanted SK’s batteries blocked from the U.S., but Ford needs those batteries to make the electric F-150. Would the Feds screw the Blue Oval? The results are: kinda!
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It’s Ford vs GM, but not a battle about truck sales or pony car quarter-mile times. It’s a battery…Read more