U.S. ITC Delays Decision On LG Chem, SK Innovation Trade Secret Case To 10th February: Report

- Advertisement -
  • LG Chem filed its trade complaints against SK Innovation last year in the United States over allegations of trade secret theft
  • The ITC did not disclose the reason for the delay

As per a report by Reuters, the United States International Trade Commission (ITC) delayed a decision in a trade secrets case involving South Korean battery makers LG Chem and SK Innovation to 10th February. LG Chem filed its trade complaints against SK Innovation last year in the United States over allegations of trade secret theft. It was seeking to block SK from producing battery cells in the United States and importing the components necessary to make the cells. The report added that SK denied wrongdoing.

ITC did not disclose the reason for the delay

As per the report, an adverse ruling by the ITC could lead to an import ban on SK Innovation’s batteries and necessary components. This could potentially cause setbacks for Volkswagen and Ford Motor as they move to build new electric vehicles.

- Advertisement -

Th report added that in February, the ITC made a preliminary ruling in favor of LG Chem. The ITC did not disclose the reason for the delay. As per the report, LG Energy Solution said in a statement that it will continue to participate in the lawsuit faithfully and decisively. SK Innovation said the company would continue to participate in the lawsuit regardless of the delay.

As per the report, it said in a statement that as the lawsuit is set to extend into the third year, SK Innovation hopes that the two companies could make a wise decision to end the dispute promptly to resolve uncertainties and devote ourselves to do business.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

Drone

First Drone School Destination in NE: Guwahati

0
In the pursuance of the ‘Act East’ policy and the aim to make India a drone tech hub, northeast India has got its first...

8 EMC Projects Completed

0
The Electronics Manufacturing Cluster is leaving no stone unturned for setting up operational units around the country. Out of the 3464.42 acres, 1342 acres...

Kentucky Company Rubicon Tech Now on NYSE

0
The Kentucky-based leading tech company, Rubicon Technologies, Inc. (Rubicon), has announced trading on the New York Stock Exchange (NYSE) beginning Tuesday. The step followed...

Exclusive

Sterlite Tech’s Losses down QoQ, Revenue Up YoY

0
Sterlite Technologies recently published its financial performance results for Q1, FY 23. While it witnessed a 20.32% increase in the overall revenue on a...

8 EMC Projects Completed

0
The Electronics Manufacturing Cluster is leaving no stone unturned for setting up operational units around the country. Out of the 3464.42 acres, 1342 acres...

Kentucky Company Rubicon Tech Now on NYSE

0
The Kentucky-based leading tech company, Rubicon Technologies, Inc. (Rubicon), has announced trading on the New York Stock Exchange (NYSE) beginning Tuesday. The step followed...

Important Sectors

Sterlite Tech’s Losses down QoQ, Revenue Up YoY

0
Sterlite Technologies recently published its financial performance results for Q1, FY 23. While it witnessed a 20.32% increase in the overall revenue on a...
Drone

First Drone School Destination in NE: Guwahati

0
In the pursuance of the ‘Act East’ policy and the aim to make India a drone tech hub, northeast India has got its first...

I-Day Gift: Ola Electric Car in 2024!

0
Ola Electric, at an event on Monday, announced the launch of their first electric car by 2024. Though not much has been revealed about...

Indian Chip Industry to Cross $300 billion by 2026

0
As India gradually strides toward becoming Aatmanirbhar, a new report on the chip component industry avouch for this growth. The report of India Electronics...
EV

Volkswagen Testing ŠKODA EVs in India

0
German auto giant Volkswagen has begun to test some ŠKODA EVs in India. As per a senior official of the company, the step aims...

Manufacturing

I-Day Gift: Ola Electric Car in 2024!

0
Ola Electric, at an event on Monday, announced the launch of their first electric car by 2024. Though not much has been revealed about...

Indian Chip Industry to Cross $300 billion by 2026

0
As India gradually strides toward becoming Aatmanirbhar, a new report on the chip component industry avouch for this growth. The report of India Electronics...
EV

Volkswagen Testing ŠKODA EVs in India

0
German auto giant Volkswagen has begun to test some ŠKODA EVs in India. As per a senior official of the company, the step aims...

Mahindra To Launch Unveiled e-SUVs in 2024

0
On Monday, Indian auto-giant Mahindra & Mahindra (M&M) unveiled its five new electric sports utility vehicles (e-SUVs) --- XUV.e8, XUV.e9, BE.05, BE.07 and BE.09,...

US Aiming to Regain its Semiconductor Leadership

0
Semiconductors are now finding a rightful place in all areas such as national security, information technology, aerospace, and so forth. What is sad is...