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SK Group's EV Battery Material Maker Raises $2 Billion In Korea's Hottest IPO In Years forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
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. ....
EV-battery maker SK Innovation’s shares surge after settlement with rival brightens U.S. prospects Heekyong Yang and Joyce Lee SEOUL Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer Kim Hong-Ji/Reuters Shares in South Korean auto battery maker SK Innovation Co Ltd soared on Monday after it buried the hatchet with LG Energy Solution, freeing up both firms to expand in the United States, where electric cars have become a Biden administration priority. ....
SK Innovation agreed to pay US$1.8 billion to LG Energy Solution, a unit of LG Chem, discontinue other lawsuits elsewhere, and freeze legal actions for 10 years. ....