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Technology

South Korea EV battery war ends in peace deal: 5 things to know

LG Energy Solution and SK Innovation reach $1.8 billion settlement with US push

South Korean electric battery manufacturers LG Energy Solution and SK Innovation battled for two years over electric vehicle batteries in the U.S. before reaching a $1.8 billion settlement.   © Reuters

SEOUL -- South Korea's LG Energy Solution and SK Innovation reached a last-minute $1.8 billion settlement over the weekend to end their two-year legal dispute over electric vehicle batteries in the U.S.

Here are five things to know about the deal, announced Sunday, and its impact on the Biden administration's clean energy policy and the fast-growing EV battery industry.

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