12 May Evs – Good news all Around. Click to keep reading…
The decision by the International Trade commission to allow SK innovation to continue U.S. operations is good news for electric vehicle makers world wide. The decision came after SK Innovation and LG Chem reached a $2 billion settlement related to a trade-secrets dispute between the two South Korean battery manufacturers.
When SK’s new Georgia based lithium ion battery plants come online, it will own nearly half of the free-market battery manufacturing capacity. Foreign EV battery manufacturers are paying close attention to the U.S. market, as they have struggled to make inroads in China, the largest EV market in the world. As EV infrastructure is established in more locales, it’s expected that dramatic declines in the price of batteries will drive the prices of EV’s to less than cars powered by gasoline and diesel as soon as 2022.
Learn more about the race to electric cars on CNN.com.
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