Korean battery firms set to announce deal to resolve U.S. trade dispute – sources

This post was originally published on this site

The Biden Administration faces a Sunday night deadline on whether to take the rare step of reversing a U.S. International Trade Commission decision. The ITC in February sided with LG Chem in its trade secrets claims, but allowed SK to import components for batteries for Ford’s EV F-150 program for four years, and Volkswagen (DE:VOWG_p)’s North American EVs for two years. SK vowed to walk away from its $2.6 billion Georgia battery plant under construction if the ITC decision was not overturned.