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General Motors Co. said it reached an agreement with partner LG Electronics Inc. to recover from the South Korean company $1.9 billion of the $2 billion in costs for a recall of batteries in its Chevrolet Bolt electric vehicle.

The U.S. is narrowing the gap on China’s dominance of the $46 billion lithium-ion battery industry thanks to investments from Tesla Inc. and the Biden administration’s policy push to drive growth of electric vehicles.

WARREN, Mich. — General Motors plans to cash in as the world switches from combustion engines to battery power, promising to double its annual revenue by 2030 with an array of new electric vehicles, profitable gas-powered cars and trucks, and services such as an electronic driving system that can handle most tasks on the road.

Rivian Automotive Inc., the maker of electric pickups backed by Amazon .com Inc., disclosed a net loss of almost $1 billion in the first half of the year in its initial public offering paperwork.

ABB Ltd. is preparing to roll out the first of its ultra-fast charging stations in a matter of weeks, providing enough power in less than three minutes to charge any electric car to drive 62 miles.

Lucid Group Inc. has started production on its debut electric consumer car, with deliveries to begin at the end of October.

In the single largest manufacturing investment in its 118-year-history, Ford Motor Co. on Sept. 27 said it and a partner will invest $11.4 billion and create 11,000 new jobs to build electric vehicles and batteries at two new sprawling campuses in Tennessee and Kentucky.

Retail fuel outlets such as truck stops and gas stations say they are seriously weighing investment in electric vehicle chargers, but face such challenges as customer “range anxiety,” high utility charges for electricity and political policy uncertainties.

General Motors said Sept. 20 that production has resumed for battery modules used in recalled Chevrolet Bolt electric vehicles, and customers could start getting replacement parts by mid-October.

Rivian Automotive Inc., the electric pickup maker backed by Amazon.com Inc., says it has received full regulatory certifications and can start delivering its debut electric vehicle to U.S. customers.