SK Innovation threats to pull battery business out of US and move to China or Europe
2021-03-30 11:34:55

South Korea’s SK Innovation said Tuesday, it is considering all options including pulling its battery business out of the U.S. if President Joe Biden does not overturn a ruling by the U.S. International Trade Commission (ITC) by April 11.

A spokeswoman at SK Innovation said the company has consulted experts on related matters. The spokeswoman also said, “We are considering the option of moving battery production in the U.S. to Europe or China, and it is expected to cost tens of billions of won.”

As previously reported, LG Energy Solution and SK Innovation, which are engaged in a heated battle over the battery lawsuit, are once again at odds over LG’s plan to build a U.S. electric vehicle battery factory.

The U.S. ITC ruled last month on LG’s lawsuit against SK for trade secret misappropriation, and issued a final opinion earlier this month, finding that SK‘s infringement of LG’s trade secrets was established and thus prohibiting SK from exporting related products to the U.S. for the next 10 years.

Related:

Email Subscription
Newsletters and emails are now available! Delivered on time, every weekday, to keep you up to date with North American business news.
ASIA TECH WIRE

Grasp technology trends

Download