President welcomed LG Energy Solution and SK Innovation’s decision on battery technology for electric vehicles
U.S. President Joe Biden on Sunday welcomed an agreement between South Korean battery makers LG Energy Solution and SK Innovation on battery technology for electric vehicles. The president said it would help create jobs for Americans.
The settlement agreement came hours before Biden had to decide whether to take the rare step of reversing a U.S. International Trade Commission decision that could have led to the closure of SK Innovation’s new $2.6 billion battery plant in Georgia.
“This agreement is a win for American workers and the American auto industry,” Biden said, noting that it would help create a strong, diversified, U.S.-based battery supply chain for electric vehicles.