Scan the QR code with wechat < / P > < p > to share with friends and circle of friends_ blank" href=" https://news.163.com/news/search?keyword=%E7%BE%8E%E5%9B%BD "> US < / a > provides < a target ="_ blank" href=" https://news.163.com/news/search?keyword=%E7%94%B5%E5%8A%A8%E6%B1%BD%E8%BD%A6 "> electric vehicle < / a > < a target ="_ blank" href=" https://news.163.com/news/search?keyword=%E7%94%B5%E6%B1%A0 "> Korean supplier of battery < / a > < a target ="_ blank" href=" https://news.163.com/news/search?keyword=SK < / SK reached a settlement with its main South Korean subsidiary on Saturday. The agreement avoided a 10-year ban on SK's imports and saved thousands of jobs in Georgia. < / P > < p > in February this year, the US International Trade Commission (ITC) issued a ruling in favor of LG energy solutions, a subsidiary of LG Chemical, accusing sk of stealing its trade secrets related to electric vehicle battery technology, and issued a 10-year import ban. The ban was originally scheduled to take effect on April 11 local time, unless US President Joe < a target = "_ blank" href=" https://news.163.com/news/search?keyword=%E6%8B%9C%E7%99%BB "> Joe Biden overturned the ban on public policy grounds. < / P > < p > SK and LG energy reached an agreement at the last moment when USTR was about to take action to overturn the ITC resolution. Sk had previously said it would stop building a $2.6 billion battery plant in Georgia if ITC's decision was not overturned. According to the settlement agreement, SK agreed to pay 2 trillion won (US $1.8 billion / RMB 11.7 billion) and 500 billion won (US $450 million / RMB 2.9 billion) respectively to LG energy this year and next, as well as royalties for at least six years. "We do not expect these payment plans to create a financial burden," a representative of SK said The two companies also agreed to drop all lawsuits in the United States and South Korea and not to sue each other for 10 years. "The two companies can now co-exist and compete fairly in the global market," LG Energy said in a statement Sk also said it would actively invest in South Korea and overseas as the uncertainty in its U.S. electric vehicle battery business has been eliminated. < / P > < p > the move is also good news for Biden, who has always made promoting the production of electric vehicles and batteries in the United States his top priority, and proposed to spend $174 billion to increase the sales of electric vehicles and expand the charging infrastructure. "This settlement is a victory for us workers and the US automotive industry, and we need a strong, diversified and resilient battery supply chain for us electric vehicles to meet the growing global demand for these vehicles and parts, create high paying jobs at home, and lay a good foundation for the future," Biden said in a statement < / P > < p > Volkswagen said: "we are glad that the two battery suppliers at the center of the recent trade dispute have come together and resolved their differences." "We are pleased that SK and LG energy have resolved their differences," Ford said in a statement < / P > < p > in a two-year legal battle, LG energy accused sk of stealing billions of dollars worth of key information about battery manufacturing, enabling it to win Ford and Volkswagen contracts. Sk denies receiving or using any of the latter's confidential information from LG energy employees it employs. < / P > < p > LG is working with GM to expand its battery plant in Ohio and plans to build a new plant in Michigan. In addition, the company has announced plans to invest $4.5 billion in the United States by 2025 and recruit 10000 workers to expand battery capacity. Sk's battery plant in Georgia is about to be completed and is already manufacturing battery samples, while the second plant has completed about 20% and is expected to be completed next year. Sk said the total investment in the second phase of the project will reach about $5 billion and create 6000 jobs. < / P > < p > according to people familiar with the matter, the US government has been pushing the two companies to work hard to reach a settlement, as have Volkswagen and Ford. Scott Keogh, VW's chief executive, said: "if ITC's decision remains unchanged, it may reduce battery capacity in the United States and delay the transition to electric vehicles." (small) < / P > < p >