Tagged: moves

Battery business moves to China

Sk innovation, a battery subsidiary of SK group in South Korea, said on Tuesday that if the president of the United States does not overturn a ruling by the United States International Trade Commission (ITC) by April 11, it will consider all options, including the withdrawal of battery business from the United States.

Battery business moves to China

“The company has been consulting experts on how to withdraw our battery business from the United States,” said a sk innovation spokesman


“We are considering the option of moving our battery production in the United States to Europe or China, which will cost us tens of billions of won,” she said


Sk innovation has warned that Biden would be forced to stop building a $2.6 billion battery plant in Georgia if he did not use the 60 day presidential review period to overturn the decision.


Earlier this month, the U.


According to the opinion, there are serious destruction behaviors within sk. Sk senior management has instructed subordinates at all levels to destroy evidence, and collecting and destroying information has become the common practice of SK and is defaulted.


ITC also holds that LG’s claim that SK infringes on LG’s 22 trade secrets is tenable. Considering SK’s manpower and technical level, it is difficult for SK to independently develop relevant battery technology within 10 years. Therefore, the 22 Trade Secrets of LG will be the object of legal relief, and SK will be prohibited from exporting batteries and modules to the United States in the next 10 years. Sk has asked for a one-year ban on exports.


In addition, ITC has decided to suspend the import ban on Ford and Volkswagen for four and two years, so that the two companies will find other battery partners to replace SK during the period.


Last week SK filed a motion with the U.S. International Trade Commission to ask it not to enforce February’s ruling, calling the orders “catastrophic.”.