Two South Korean manufacturers of batteries for electric cars have reached a settlement that may allow one of them facing a ban on exports to the United States to avoid that fate.
Company officials said this morning that LG Energy Solution and SK Innovation reached the deal just hours before a deadline imposed by the International Trade Commission in the U.S.
In a dispute between the two, the ITC had sided with LG, finding that SK had infringed on LG's trade secrets.
In February, it issued a ban on SK for ten years.
The deal they've now struck will allow SK to finish building an electric vehicle battery plant in Georgia worth 2-and-a-half billion dollars, which will supply batteries to Ford and Volkswagen.