LG will pay GM $1.9B for Chevy Bolt EV battery recall

2017 Chevrolet Bolt EVGeneral Motors announced Tuesday morning that it has reached an agreement with LG Electronics over manufacturing defects that have led to the recall of about 140,000 Chevrolet Bolt EVs. According to GM, the reimbursement offsets $1.9 billion of the $2.0 billion in charges associated with the recalls—effectively covering most of the cost of...

Rivian intends to make its own batteries, hints at future European plant

Rivian R1SIn paperwork required for its initial public offering (IPO), Rivian has disclosed that it's considering manufacturing its own batteries, and may also expand production beyond the United States. The company mentioned in-house battery manufacturing in a prospectus filed with the U.S. Securities and Exchange Commission earlier this month, while also...