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SK Innovation is waiting for a $ 2.6 billion Georgia battery plant decision




You can ask for a special review by the US Trade Representative because abandoning a Georgia project creates undue difficulty for the US automotive industry. That path will ultimately require the involvement of the President of the United States, as is the case with controversial elections.

Another option is for SK and LG Chem to negotiate a settlement. This is a common result of such high stakes legal impasse. There was speculation in the South Korean press that such negotiations were already underway.

Meanwhile, state officials have warned that the worst-case scenario of shutting down a project would hurt Georgia’s economy. The state is offering a $ 300 million incentive to support battery factories.

This issue points to the reality of some new automotive industries. The EV competition requires huge industrial investment to manufacture batteries. Also, despite the seemingly commercial nature of EV batteries, EV batteries are highly designed components and cannot be easily re-procured or redesigned.

This year, Ford considered the SK-LG Chem standoffs in a letter to the International Trade Commission through an attorney. Ford relies on SK batteries for its electric F-150, and other “EV battery suppliers have EV battery cells that fully meet Ford’s technical or US supply requirements for the electric F-150. We can’t provide, “said the submitted letter, Law Office Duane Morris. “EV batteries cannot be simply replaced like flashlight batteries.”

Meanwhile, SK is rapidly adding manufacturing capacity around the world to take advantage of the industry’s expanding EV plans. We expanded our Georgia site plan by increasing our investment by 30% to $ 2.6 billion, increasing the number of workers we plan to hire from 2,000 to 2,600.

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