Ford calls for agreement on LG-SK battery dispute… “Benefits to US companies and workers”

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(Los Angeles = Yonhap News) Correspondent Yoon-seop Jung = US automaker Ford called for a voluntary agreement with LG Energy Solutions and SK Innovation, which are in conflict over the outcome of a lawsuit for infringing electric vehicle battery trade secrets.

Jim Parley Ford, CEO of Ford, tweeted on the 11th (local time) that “the agreement between the two suppliers of (electric vehicle batteries) is ultimately in the best interests of the US (electric vehicle) manufacturers and workers.” Reuters reported.

The US International Trade Commission (ITC) admitted that SK Innovation infringed LG Energy Solutions’ electric vehicle battery trade secrets on the 10th, and issued an order to ban the import of raw materials and finished products for batteries produced by SK for 10 years.

However, ITC has a grace period that allows imports for Ford and Volkswagen, which are supplied with SK’s batteries in the US, for four and two years, respectively.

LG pressured SK to actively pursue an agreement on the ITC decision, but SK said it would correct the ITC results and expected US President Joe Biden’s veto exercise.

However, the opinion of the industry is that President Biden’s usual emphasis on improving unfair trade practices and protecting intellectual property rights, and that it is unlikely that he will exercise veto over ITC decisions over disputes over trade secret infringement of foreign companies, not their own.

Therefore, it is interpreted that Ford also publicly expressed an opinion that the two companies of LG and SK would close the dispute as soon as possible through an agreement in a situation where uncertainty over the import of SK batteries has increased.

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2021/02/12 05:27 sent

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