Shares of SK Innovation Co rose 16.8% whereas LG Chem Ltd shares rose 4.1% on Monday, after the South Korean battery makers agreed on a 2 trillion gained ($1.8 billion) dispute settlement over electric-vehicle (EV) battery know-how.
LG Energy Solution, a wholly-owned subsidiary of LG Chem, and SK Innovation, additionally agreed on Sunday to drop all litigation in america and South Korea and to not elevate additional lawsuits in opposition to one another for 10 years, after the core dispute had threatened the EV plans of Ford Motor Co and Volkswagen AG.
