SK Innovation fuels LG Chem feud with EV battery patent lawsuit

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South Korean battery maker SK Innovation Co Ltd on Friday said it plans to sue compatriot LG Chem Ltd and its U.S. subsidiary in the United ...

SEOUL: A feud between two South Korean battery makers escalated on Friday as SK Innovation Co Ltd said it plans to sue bigger rival LG Chem Ltd in the United States over alleged patent infringement related to electric vehicles .

SK Innovation declined to provide further detail, including specifics of when the case would be filed but said the action was imminent. The company said a substantial amount of LG Chem's battery products were likely to be affected and a win would prohibit LG Chem from selling those products. SK Innovation stock was up 6.4per cent at 0510 GMT. LG Chem gained 1.5per cent, trailing the market's 1.8per cent rise.The South Korean government is nurturing the domestic EV battery sector to make the industry as big an export item for the country as memory chips and display panels.

 

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