Statement on the Settlement of the Battery Intellectual Property Dispute Between LG Energy Solution and SK Innovation Company

This settlement agreement is a win for American workers and the American auto industry. A key part of my plan to build back better is to have the electric vehicles and batteries of the future built here in America, all across America, by American workers. We need a strong, diversified and resilient U.S.-based electric vehicle battery supply chain so we can supply the growing global demand for these vehicles and components, creating good-paying jobs here at home and laying the groundwork for the jobs of tomorrow. Today's settlement is a positive step in that direction, which will bring some welcome relief to workers in Georgia and new opportunity for workers across the country. I want to thank Ambassador Katherine Tai for her tireless work to resolve this dispute and facilitate a settlement that is good for America's future in the electric vehicle industry and good for job creation. My American Jobs Plan will help build on this momentum, creating millions of new jobs, supporting a stronger American auto industry, and making sure that we win the electric vehicle markets of the future.