WASHINGTON — Two big South Korean electric-vehicle battery makers said Sunday they have settled a long-running trade dispute that will allow one company to move ahead with plans to manufacture batteries in Georgia. President Joe Biden called it “a win for American workers and the American auto industry.”
“We have decided to settle and to compete in an amicable way, all for the future of the U.S. and South Korean electric vehicle battery industries,” said Jun Kim, CEO and president of SK, and Jong Hyun Kim, CEO and president of LG Energy. The companies pledged to work together to strengthen the EV battery supply chain in the U.S. and support the Biden administration’s efforts to advance clean energy policies, including electric vehicles.
The commission said SK could supply batteries to Ford F, for four years and to Volkswagen VOW, -1.06% VWAGY, -1.20% for two years. The decision had jeopardized a $2.6 billion battery factory that SK is building in Commerce, Ga.Democratic Sen.
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