SKorea’s Moon says EV battery settlement ‘very meaningful’

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SEOUL, South Korea (AP) — South Korean President Moon Jae-in on Monday welcomed the decision by two South Korean electric vehicle battery makers to settle a long-running intellectual property dispute. The standoff had threatened thousands of American jobs and President Joe Biden’s environmental policies. In agreeing to pay 2 trillion won ($1.8 billion) to LG Energy Solution over stolen trade secrets, SK Innovation can now move ahead with plans to manufacture batteries in Georgia for electrically powered Ford pickup trucks and Volkswagen SUVs. Biden called the agreement a “win for American workers and the American auto industry.”

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