BUDAPEST, Hungary and SHENZHEN, China, June 11, 2026 /PRNewswire/ -- Sunwoda Electronic (Sunwoda), a leading global provider of lithium-ion battery technologies and solutions, and Tulip Innovation (Tulip), the licensing agent for lithium-ion battery patents owned by LG Energy Solution and Panasonic Energy, have entered into a patent license agreement under Tulip's lithium-ion battery licensing program.
Following the agreement, the parties will withdraw pending legal actions in Germany, China, and Korea, resolving all issues relating to LG Energy Solution and Panasonic Energy battery technology for Sunwoda and Sunwoda's customers. The terms of the agreement remain confidential.
The parties emphasized that resolving the global legal proceedings through the execution of a license agreement was in the best interests of both parties, as well as their respective businesses, customers, and stakeholders. The resolution eliminates the uncertainty, disruption, and significant costs associated with continued litigation.
