U.S. panel postpones decision in LG Chem-SK Innovation EV battery case
WASHINGTON, The U.S. International Trade Commission (ICT) on Monday postponed its final decision in a dispute involving two South Korean electric vehicle battery markers — LG Chem and SK Innovation.
The delay marks the second of its kind after the ICT pushed back its final ruling from Oct. 5.
The decision has now been set for Dec. 10, but the U.S. panel did not provide specific reasons for the further delay.
“The Commission has determined to extend the target date for completion of the investigation from October 26, 2020 to December 10, 2020,” the ICT said in a public notice posted on its website.
LG Chem, the world’s largest supplier of EV batteries, filed a complaint against its South Korean rival in April, accusing the latter of stealing its trade secrets by hiring its former employees.
An ICT ruling in favor of LG Chem could disrupt U.S. imports of EV batteries from SK Innovation, whose clients here include Ford Motor Co.
SK Innovation is currently building its first EV battery plant in Georgia for completion by 2022, and recently broke ground for its second plant in the United States.
LG Chem is a key supplier of batteries for nearly all major global carmakers, including General Motors, Ford, Renault, Volvo and Volkswagen, as well as South Korea’s two largest automakers — Hyundai Motor and Kia Motors.
The company currently operates an EV battery plant in Michigan, and began constructing its second plant in northeast Ohio earlier in the year in a joint venture with GM.
Source: Yonhap News Agency