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In a victory for Biden, two South Korean battery makers have reached a last-minute $1.8 B settlement of a trade secrets case that clears way to supply Ford & VW electric vehicles from new plants in Georgia https://t.co/BqtcT5N7G1 …
Scaling production of EVs in the U.S. will require a ramp-up in domestic battery production. Now there’s good news on that front. A battery factory in Georgia can move forward after LG Energy Solution and SK Innovation (South Korean companies), two of the world’s biggest electric vehicle battery manufacturers, settled a dispute. SK will pay LG $1.8 billion in cash and royalties because the U.S. International Trade Commission ruling that barred SK from making batteries in the U.S. because they stole LG’strade secrets. “This settlement agreement is a win for American workers and the American auto industry,” President Biden said in a statement.
Why This Matters: The dispute threatened U.S. production of EVs. SK has contracts to produce batteries for electric Ford F-150 pickup trucks and Volkswagen SUVs but without the Georgia plant they would have been “scrambling for batteries,” the AP reported. The Biden administration’s infrastructure plan calls for $174 billion in electric vehicle incentives, including developing a U.S.-based supply chain. Ford Motors hailed the settlement, saying it “allows us to focus on delivering a range of Ford world-class battery electric vehicles for our retail and fleet customers, while also supporting American workers, the economy and our shared goal of protecting the planet.″
As Vox writes, “if the US can pull off electrification of its greatest contributor to climate change, it bodes well for decarbonizing the rest of the economy.” The support for EVs is strong: half of Americans would support their state requiring all cars sold by 2035 to be zero-emission, according to a 2020 YouGov poll. Beyond the price point, people’s biggest concerns revolve around the time, cost, and ease of charging.
Even Georgia’s Republican Governor Brian Kemp has been heavily in favor of keeping SK’s planned operations in his state. As the Atlanta Journal-Constitution wrote, “Georgia handed over a huge package of economic incentives to SK to win the project. The state provided grants, free land and other incentives that totaled about $300 million so long as the projects lived up to economic development promises.”
By Josh Freed, Senior Vice President for the Climate and Energy Program, Third Way We’ve reached a critical juncture in America’s nuclear energy future. Put differently, we’re in make-or-break territory for reaching net-zero by 2050. That’s because nuclear still accounts for more than 50% of our carbon-free power, and we need all the clean energy […]
It’s been quite a week for pipelines. Though the Colonial pipeline has resumed operations after being shut down by hackers earlier this week, its shuttering prompted gas shortages across the South and East Coast. The incident also increased calls by green groups and clean energy advocates to step up distributed energy resources. Wind and solar […]
by Amy Lupica, ODP Staff Writer Canadian energy company Enbridge will continue to operate a pipeline transporting oil from the U.S. to Canada–despite Michigan Governor Gretchen Whitmer’s order to halt operations–– stating that the governor did not have the authority to cease the pipeline’s operations. The Line 5 pipeline transports millions of barrels of crude oil […]
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