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EV battery battle: intellectual property verdict hands SK Innovation a loss, causing shares to plunge by the most in a year

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SK Innovation had the biggest decline in almost a year in Seoul trading after the International Trade Commission ruled its electric-vehicle batteries will be banned from the US for 10 years, giving bigger rival LG Energy Solution a win.Shares of SK Innovation, which supplies Ford Motor and Volkswagen, dropped as much as 9.6 per cent in early trading, the biggest intraday decline since March 2020. The stock traded down 6.6 per cent at 277,000 won as of 9:15am in Seoul. Shares of LG Chem, the…

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