Sk Innovations agreed to pay 1.8 billion in cash and royalties to LG Chemicals in settlement.Both South Korea-based companies agreed to not sue each other for the next 10 years.
The settlement means SK can finish building an EV lithium-ion battery plant in Commerce,Georgia., which will provide batteries to Ford and Volkswagen, two contracts SK won before the ITC ruling.
Great News for Novonix being close to Commerce,Georgia.
Media Watch - NVX related, page-2585
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