Battery Supplier for Ford F150 EV Receives 10-year Import Ban

[OutdoorLover]

The US International Trade Commission has handed SK Innovation a 10-year ban from importing EV battery components to the US, after their findings that SK Innovation stole trade secrets from fellow Korean battery firm LG Chem. This will affect both Ford and VW vehicles being made in the US. The ban doesn't take effect immediately - a grace period being provided to give Ford and VW time to arrange alternate suppliers.

See:
https://www.cnet.com/roadshow/news/s...rd-volkswagen/

[OutdoorLover]

Well, there has been an 11th hour settlement and "SK Innovation agreed to pay LG Energy Solution, a wholly owned subsidiary of LG Chem Ltd, 2 trillion won ($1.8 billion) - 500 billion won each this year and next, and royalties for at least six years." - for infringing on LG Chem's battery trade secrets. SK Innovation avoids the 10-year import ban, which is also good news for Ford and VW, who would have had to scramble to find alternate suppliers.

https://www.reuters.com/article/us-a...-idINKBN2BX0HI