Korea's LG Energy, SK Innovation settle EV battery dispute for $1.8b, aiding Biden's push

Korea's LG Energy, SK Innovation settle EV battery dispute for $1.8b, aiding Biden's push

Photo: Michael Fousert / Unsplash

South Korean battery makers LG Energy Solution and SK Innovation Co agreed on Sunday to settle disputes over electric-vehicle (EV) battery technology, avoiding a potential setback for US EV ambitions.

The settlement by affiliates of two of South Korea’s biggest conglomerates came hours before a Sunday night deadline for President Joe Biden’s administration to decide whether to take the rare step of reversing a U.S. International Trade Commission decision (ITC).

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter