Biden welcomes settlement between South Korean firms on electric battery dispute
"This settlement agreement is a win for American workers and the American auto industry," Biden said in a statement,
US President Joe Biden on Sunday welcomed a settlement between South Korean battery makers LG Energy Solution and SK Innovation Co over electric-vehicle (EV) battery technology, saying it would help create jobs for American workers.
The settlement came hours before a Sunday deadline for Biden to decide whether to take the rare step of reversing a US International Trade Commission decision (ITC) that could have shuttered a new $2.6 billion SK battery plant in Georgia.
"This settlement agreement is a win for American workers and the American auto industry," Biden said in a statement, adding that it would help ensure that the United States had a strong, diversified US-based electric vehicle battery supply chain.