Two South Korean electric vehicle battery makers have come to an agreement.
WASHINGTON (AP) — Two big South Korean electric vehicle battery makers said they’ve settled a long-running trade dispute that will allow one company to move ahead with plans to manufacture batteries in Georgia. President Joe Biden calls it “a win for American workers and the American auto industry.”
The agreement between LG Energy Solution and SK Innovation ends the need for Biden to intervene. He had until Sunday night to make a decision, following a ruling in February by a trade commission. The case has been closely watched for its implications on Biden’s clean-energy agenda. Biden wants a sharp increase the number of electric vehicles as part of his plan to address climate change.