SK Innovation, a manufacturer of batteries for electric vehicles, has reached an agreement with the US authorities in the trade
What is the essence
The main point in the agreement between the companies iswas “working together to develop the electric car battery industry in South Korea and the United States through healthy competition and friendly cooperation.” Through collaboration, they plan to improve the environmental and economic aspects of battery production in both countries.
In February, the American Trade Commission imposeda ban on the import of SK Innovation products into the United States for 10 years. The reason for the ban was that SK illegally acquired the technology of a competitor in the person of LG. This state of affairs would have limited Ford and Volkswagen to produce their own electric vehicles, but now the Georgia plant will provide manufacturers with the parts they need.