⁍ The United States International Trade Commission (ITC) delayed a decision in a trade secrets case involving South Korean battery makers LG Chem Ltd and SK Innovation Co Ltd to Dec. 10.
⁍ LG Chem, an EV battery supplier for Tesla Inc and General Motors Co, filed its trade complaints against SK Innovation in April 2019 in the United States.
⁍ An adverse ruling by the ITC could lead to the import ban of SK Innovation’s batteries and necessary components.
– The US International Trade Commission has pushed back a decision on a long-running trade dispute between South Korean battery makers to Dec. 10, Reuters reports. LG Chem, an EV battery supplier for Tesla and General Motors, filed complaints in April 2019 against SK Innovation, an EV battery supplier for Volkswagen and Ford, accusing the latter of trade secret theft. An adverse ruling by the ITC could lead to the import ban of SK Innovation’s batteries and necessary components, potentially causing setbacks for Volkswagen and Ford as they move to build new electric vehicles. The automakers have said the dispute between the South Korean battery makers could disrupt supplies of the key EV parts and cost US jobs during the COVID-19 pandemic. “It is clear that this delay has resulted in a longer litigation process,’ SK Innovation said in a statement, adding it “hopes that the two firms could make a wise decision to wash off uncertainties caused by prolonged litigation by ending this dispute promptly and to focus on businesses.” An analyst at Mertiz Securities says the delay could indicate the ITC “is facing difficulties making the final determination on the case, considering the impact it will bring to industrial issues in the United States including job issues.”
Source: https://www.reuters.com/article/us-lg-chem-sk-innovation-lawsuit/us-itc-delays-decision-on-lg-chem-sk-innovation-trade-secret-case-idUSKBN27B2GA