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Non-Tech : Ford Motor Company

F 12.80

-1.8%

3:59 PM EST

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From: roto	4/11/2021 4:00:50 PM
	of 230

VW, Ford EV battery supplier reaches deal to avoid import ban axios.com Two Korean electric vehicle battery makers have reached a last-minute settlement, saving President Biden from a Sunday deadline to decide whether to intervene in the global trade secret dispute. Why it matters: The deal between SK Innovation and its rival, LG Chem, "averts a 10-year import ban on SK Innovation Co.'s products and protects thousands of jobs in the politically important state of Georgia," according to Bloomberg, which first reported the news. SK Innovation is the battery supplier for certain Ford and Volkswagen U.S.-built EVs. Ford share price should get a nice bump up.

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