Washington (AP) – Two major South Korean electric vehicle battery manufacturers have settled a long-running trade dispute that will allow one of them to move forward with battery plans in Georgia. President Biden called it a “victory for American workers, for the American auto industry.”
LG Energy Solution և SK Innovation reached a settlement, ending Biden’s need to intervene in the dispute. The person spoke on condition of anonymity because the companies did not announce the settlement. No details
In February, the US International Trade Commission ruled that SK had stolen 22 trade secrets from LG Energy, and that SK had been banned from importing, manufacturing or selling batteries in the United States for 10 years.
The decision could leave Ford և Volkswagen looking for battery challenges as they both release additional electric vehicle models. SK has contracts to make batteries for the electric Ford F-150 pickup truck և electric Volkswagen SUV.
The commission said SK could supply batteries to Ford Motor Co. for four years and Volkswagen AG for two years.
The decision jeopardized the $ 2.6 billion battery plant that SK is building in Commerce, Com.
Politicians called on Biden to reverse the commission’s decision. Biden had until Sunday night to make a decision.
Biden said in a statement on Sunday that the construction of electric vehicles’s batteries is an important part of his $ 2.3 trillion infrastructure project.
“We need a strong, diversified, resilient supply chain for US-based electric vehicle batteries to meet the growing global demand for these vehicle components. “Today’s settlement is a positive step in that direction,” Biden said.
Krisher reported from Detroit.