Farley calls for settlement between LG Chem, SK Innovation

The ITC said the decision would allow the automakers to transition to new suppliers for these programs.

LG Chem’s wholly owned battery subsidiary, LG Energy Solution, an EV battery supplier to Tesla Inc. and General Motors, praised the ruling on Wednesday.

“SKI’s total disregard of our warnings and intellectual property rights gave us no choice but to file this case,” Kim Jong-hyun, the CEO of LG Energy Solution, said in a statement.

SK Innovation said on Wednesday it regretted the ITC’s decision but noted there was a 60-day presidential review period in which President Joe Biden could decide to reverse the ruling. Biden has made EVs and reducing vehicle emissions a top priority. The White House declined to comment.

VW and Ford previously warned a U.S. legal row between South Korean battery makers could disrupt supplies of the key EV parts and cost U.S. jobs during the COVID-19 pandemic.

Farley said last week on a conference call with analysts that Ford’s $22 billion investment in electrification does not include potential investment in battery production, whether through Ford itself or via a joint venture.