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Biden praises South Korean battery maker deal as win for U.S. electric vehicle push

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President Joe Biden during remarks on the American Jobs Plan in the South Court Auditorium at the Eisenhower Executive Office Building on April 7, 2021.

Demetrius Freeman | The Washington Post | Getty Images

President Joe Biden on Sunday declared the settlement between two Korean battery makers a victory for U.S. efforts to build a strong supply chain for electric vehicles in order to create clean energy jobs and curb climate change.

The settlement over a trade secrets dispute between LG Energy Solution and SK Innovation Co. will allow two plants in Georgia to move forward with plans to produce lithium ion batteries for Ford and Volkswagen.

The companies agreed to drop litigation in the…



Source cnbc.com

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