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(Bloomberg) -- Two South Korean electric-vehicle battery makers reached a last-minute settlement in a bitter U.S. trade dispute, sparing President Joe Biden from choosing between undermining intellectual property rights or dealing a politically toxic blow to his climate agenda. SK Innovation Co. agreed to pay 2 trillion won ($1.8 billion) to LG Energy Solution, a unit of LG Chem Ltd., according to a statement from the two companies. The payment...

Apr 13 2021, 6:10 AM April 10 2021, 9:53 PM April 13 2021, 6:10 AM (Bloomberg) -- Two South Korean electric-vehicle battery makers reached a last-minute settlement in a bitter U.S. trade dispute, sparing President Joe Biden from choosing between undermining intellectual property rights or dealing a politically toxic blow to his climate agenda. (Bloomberg) -- Two South Korean electric-vehicle battery makers reached a last-minute settlement in a bitter U.S. trade dispute, sparing President Joe Biden from choosing between undermining intellectual property rights or dealing a politically toxic bl...

The companies had no immediate comment. The U.S. International Trade Commission had issued the import ban Feb. 10 based on what it called an “extraordinary” effort by SK Innovation to destroy evidence in a trade-secret case lodged by fellow South Korean rival LG Chem Ltd.’s LG Energy Solution Co. unit. The ITC did carve out time to let SK Innovation import components for batteries to be assembled in Georgia for Ford and Volkswagen vehicles. The ban was scheduled to take effect April 11, unless President Joe Biden overturned it on public policy grounds. South Korea government officials a...

EV Battery Battle Has Carmakers Urging Peace Before Biden Acts Bloomberg 3/3/2021 Susan Decker and Kyunghee Park © Bloomberg via Getty Images The SK Group logo stands atop of an SK Energy Co. gas station, a unit of SK Innovation Co., in Incheon, South Korea, on Tuesday, Jan. 31, 2017. SK Innovation is scheduled to announce fourth quarter earnings on Feb. 3. (Bloomberg) -- Pressure is mounting on two South Korean companies that are the world’s largest manufacturers of electric-vehicle batteries to ensure their U.S. legal dispute -- which has wound its way to the White Ho...

EV Battery Battle Has Carmakers Urging Peace Before Biden Acts Bloomberg 3/3/2021 Susan Decker and Kyunghee Park © Bloomberg via Getty Images The SK Group logo stands atop of an SK Energy Co. gas station, a unit of SK Innovation Co., in Incheon, South Korea, on Tuesday, Jan. 31, 2017. SK Innovation is scheduled to announce fourth quarter earnings on Feb. 3. (Bloomberg) -- Pressure is mounting on two South Korean companies that are the world’s largest manufacturers of electric-vehicle batteries to ensure their U.S. legal dispute -- which has wound its way to the White Ho...