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<blockquote data-quote="Weather Man" data-source="post: 16605602" data-attributes="member: 137766"><p><a href="https://seekingalpha.com/news/3680846-ford-vw-battery-supplier-reach-deal-to-avoid-import-ban" target="_blank">Ford, VW battery supplier reach deal to avoid import ban</a></p><ul> <li data-xf-list-type="ul">Korean battery makers SK Innovation and LG Chem <a href="https://www.reuters.com/article/us-autos-electric-politics/south-korean-battery-makers-agree-last-minute-deal-in-boost-to-bidens-ev-policy-idUSKBN2BX0HI" target="_blank">agree to settle their dispute over trade secrets</a> that had threatened a $2.6B factory SKI is building in Georgia to supply Ford (NYSE:<a href="https://seekingalpha.com/symbol/F" target="_blank">F</a>) and Volkswagen (<a href="https://seekingalpha.com/symbol/VWAGY" target="_blank">OTCPK:VWAGY</a>) with electric vehicle batteries, according to multiple reports.</li> <li data-xf-list-type="ul">The plant's future had been in doubt after the U.S. International Trade Commission i<a href="https://seekingalpha.com/news/3660986-ford-volkswagen-ev-battery-supplier-defeated-in-trade-secrets-case" target="_blank">n February sanctioned SK with a 10-year ban</a> on importing batteries and the materials to make them after finding the company destroyed evidence relating to the dispute.</li> <li data-xf-list-type="ul">The Biden administration faced a Sunday night deadline on whether to take the rare step of reversing an ITC decision unless the companies had reached a deal; an announcement of the settlement is expected tomorrow.</li> <li data-xf-list-type="ul">The fate of the Georgia factory has <a href="https://www.wsj.com/articles/battery-making-rivals-to-settle-trade-rift-that-threatened-georgia-plant-11618083518" target="_blank">major implications for Ford and VW</a>, which are counting on the new assembly complex to build batteries for electric models such as Ford's F-150 pickup and VW's ID.4 crossover.</li> <li data-xf-list-type="ul">President Biden has made electric vehicles and the batteries that power them a key part of his proposed $2.2T infrastructure plan, which includes <a href="https://seekingalpha.com/news/3678093-electric-vehicle-stocks-rally-after-biden-proposes-massive-investment-in-ev-market" target="_blank">investing $174B to support the EV market</a>.</li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16605602, member: 137766"] [URL='https://seekingalpha.com/news/3680846-ford-vw-battery-supplier-reach-deal-to-avoid-import-ban']Ford, VW battery supplier reach deal to avoid import ban[/URL] [LIST] [*]Korean battery makers SK Innovation and LG Chem [URL='https://www.reuters.com/article/us-autos-electric-politics/south-korean-battery-makers-agree-last-minute-deal-in-boost-to-bidens-ev-policy-idUSKBN2BX0HI']agree to settle their dispute over trade secrets[/URL] that had threatened a $2.6B factory SKI is building in Georgia to supply Ford (NYSE:[URL='https://seekingalpha.com/symbol/F']F[/URL]) and Volkswagen ([URL='https://seekingalpha.com/symbol/VWAGY']OTCPK:VWAGY[/URL]) with electric vehicle batteries, according to multiple reports. [*]The plant's future had been in doubt after the U.S. International Trade Commission i[URL='https://seekingalpha.com/news/3660986-ford-volkswagen-ev-battery-supplier-defeated-in-trade-secrets-case']n February sanctioned SK with a 10-year ban[/URL] on importing batteries and the materials to make them after finding the company destroyed evidence relating to the dispute. [*]The Biden administration faced a Sunday night deadline on whether to take the rare step of reversing an ITC decision unless the companies had reached a deal; an announcement of the settlement is expected tomorrow. [*]The fate of the Georgia factory has [URL='https://www.wsj.com/articles/battery-making-rivals-to-settle-trade-rift-that-threatened-georgia-plant-11618083518']major implications for Ford and VW[/URL], which are counting on the new assembly complex to build batteries for electric models such as Ford's F-150 pickup and VW's ID.4 crossover. [*]President Biden has made electric vehicles and the batteries that power them a key part of his proposed $2.2T infrastructure plan, which includes [URL='https://seekingalpha.com/news/3678093-electric-vehicle-stocks-rally-after-biden-proposes-massive-investment-in-ev-market']investing $174B to support the EV market[/URL]. [/LIST] [/QUOTE]
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