Some of SK Innovation Co.’s batteries will be banned from the US for 10 years, dealing a potential blow to efforts by Ford Motor Co. and Volkswagen AG to ramp up production of electric vehicles.
SK Innovation will be able to import components for domestic production of Ford’s EV F-150 program for four years, and for Volkswagen’s MEB line for two years, to give the automakers time to transition to new domestic suppliers, the agency said.
SK Innovation’s US factory is still under construction.
LG Chem Ltd., which accused SK Innovation of stealing its battery-making secrets, won the order from the US International Trade Commission.
The ITC affirmed a judge’s decision that the import ban was the appropriate punishment for SK Innovation destroying evidence LG Chem said it needed to prove its case.
SK Innovation and the automakers can petition US President Joe Biden to veto the import ban on public policy grounds.
- Bloomberg
Created by Tan KW | Aug 13, 2024
Created by Tan KW | Aug 13, 2024
Created by Tan KW | Aug 13, 2024
Created by Tan KW | Aug 13, 2024
Created by Tan KW | Aug 13, 2024
Created by Tan KW | Aug 13, 2024