My subject line is not the title of the article
South Korea firms reach US electric vehicle battery deal
https://www.seattletimes.com/business/biden-sees-win-for-us-in-electric-vehicle-battery-deal/
but it appears that IP theft was at the heart of the disagreement ... in
the reverse of what one usually hears.
Excerpts:
The agreement between LG Energy Solution and SK Innovation ended the
need for Biden to intervene in a case closely watched for its
implications on Biden’s clean-energy agenda...
...
The companies said in a joint statement that SK will provide LG Energy
with a total of $1.8 billion and an undisclosed royalty. They agreed to
withdraw all pending trade disputes in the United States and South Korea
and not assert new claims for 10 years.
...
The U.S. International Trade Commission had decided in February that SK
stole 22 trade secrets from LG Energy, and that SK should be barred from
importing, making or selling batteries in the United States for 10
years.
...
The commission said SK could supply batteries to Ford Motor Co. for four
years and to Volkswagen AG for two years. The decision had jeopardized a
$2.6 billion battery factory that SK is building in Commerce, Georgia.
...
--------
Peri
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