In 2018, South Korea’s SK Innovation beat its larger, local rival LG Chem to a multibillion dollar deal to supply German carmaker Volkswagen with electric vehicle batteries in the United States. With great fanfare, SK Innovation (SKI) <096770.KS> broke ground in March on a $1.7 billion factory in Commerce, Georgia, about 200 km from VW’s Chattanooga plant, which will be the automaker’s electric vehicle hub in the United States. LG Chem (LGC) <051910.KS> had other ideas.
