S. Korea battery makers settle US trade dispute over EV batteries

South Korean battery makers LG Energy Solution and SK Innovation Co said on Sunday they have agreed to settle a trade secrets dispute over electric vehicle (EV) battery technologies, avoiding a potential setback for U.S. EV ambitions.

South Korean battery makers LG Energy Solution and SK Innovation Co said on Sunday they have agreed to settle a trade secrets dispute over electric vehicle (EV) battery technologies, avoiding a potential setback for U.S. EV ambitions. The settlement comes just hours before President Joe Biden's Sunday night deadline to decide whether to take the rare step of reversing a U.S. International Trade Commission decision (ITC).

In February, the ITC sided with LG, which accused SK of misappropriating trade secrets related to EV battery technology. The commission had banned the import of some SK batteries for 10 years while granting some exemptions for battery components for Ford Motor Co and Volkswagen AG EVs."