The Korean battery firm that supplies Ford and Volkswagen has announced a deal that will save thousands of Georgia jobs

• LG Chem and its rival SK Innovation Co have reached a deal that solves a long US trade dispute.
• SK was threatening to pull out of a key Georgia battery plant, and the deal saves thousands of jobs.
• Both Ford and Volkswagen's electric vehicle plans rely on SK's imported products.

NEW LOOK

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview

Thanks for signing up!

Access your favorite topics in a personalized feed while you're on the go. download the app

Email address

Sign up

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy. You can opt-out at any time.

Korean battery makers LG Chem and rival SK Innovation Co are expected to announce a settlement on Saturday in a trade secrets dispute that has threatened a key Georgia plant and the electric vehicle plans of Ford Motor Co and Volkswagen AG, three sources briefed on the matter said.

The Biden Administration faces a Sunday night deadline on whether to take the rare step of reversing a U.S. International Trade Commission decision. The ITC in February sided with LG Chem in its trade secrets claims, but allowed SK to import components for batteries for Ford's EV F-150 program for four years, and Volkswagen's North American EVs for two years. SK vowed to walk away from its $2.6 billion Georgia battery plant under construction if the ITC decision was not overturned.