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Photo courtesy of Yonhap News |
[Alpha Biz= Ellie Kim] SEOUL, June 12 — LG Energy Solution has effectively secured a victory in its two-year patent dispute with Chinese battery maker Sunwoda, reaching a licensing agreement that resolves ongoing litigation.
Tulip Innovation, which represents LG Energy Solution’s patent licensing, and Sunwoda said in a joint statement on June 11 that they have signed a patent license agreement and agreed to withdraw all legal actions in Germany, China, and South Korea. Financial terms of the deal were not disclosed.
The companies said resolving the dispute through a licensing agreement represents the best outcome for their businesses, customers, and stakeholders.
LG Energy Solution had previously accused Sunwoda of infringing key battery patents, including electrode assembly technologies. A German court last year ruled in favor of LG, ordering sales bans, product recalls, destruction, and damages related to the infringing batteries.
Following the agreement, LG Energy Solution is expected to withdraw trade-related complaints in South Korea involving vehicles equipped with Sunwoda batteries.
Sunwoda, founded in 1997, is a major lithium-ion battery manufacturer ranked among the top 10 globally in electric vehicle battery market share.
LG Energy Solution said it will continue expanding its global patent licensing ecosystem, supported by a portfolio of more than 56,000 registered and nearly 98,000 filed battery patents.
Alphabiz Ellie Kim 인턴기자(press@alphabiz.co.kr)
