Two of the world's largest electric vehicle battery manufacturers reached a settlement on Sunday that President Biden called "a win for American
Biden calls settlement win for American workers and the American auto industry
By Baek Byung-yeul
LG Energy Solution (LGES) and SK Innovation (SKI) reached an eleventh-hour settlement over their protracted battery dispute, leaving U.S. President Joe Biden as the main beneficiary through his green economy drive, which aims to create more jobs by nurturing eco-friendly businesses, industry officials said Sunday.
The two Korean EV battery makers said Sunday that they reached a settlement on the dispute over claims that SKI misappropriated LGES trade secrets. The settlement came a day before the deadline for Biden s veto of a U.S. International Trade Commission s (USITC) decision to ban SKI from importing some batteries into the U.S.
Read more about S Korean battery makers agree $1.8 bn settlement, aiding Biden s EV push on Business Standard. South Korean battery makers agree $1.8 bn settlement, aiding Biden s EV push
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