WASHINGTON (Reuters) -Volkswagen AG on Monday said it has agreed to pay $1.5 million to settle environmental claims with the states of New Hampshire and Montana over updates of emissions software arising from the 2015 diesel cheating scandal. The settlements, about $280 per vehicle, are a small fraction of what the states initially sought. The German automaker and several courts previously have cited astronomical figures as maximum liability the German automaker faces over the issue of whether states can enforce emissions laws over updates to emissions software after the vehicles were sold.
While Ford (F) ties up with Redwood Materials for EV battery recycling, Li Auto (LI) cuts delivery view for the third quarter of 2021 amid chip crisis.
Volkswagen (VWAGY) announces the the construction of a fully-owned battery systems plant in China's Hefei, which is expected to significantly boost production.