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Rivian Automotive agreed to pay $250 million to settle an investor lawsuit against the electric vehicle maker, saying it’s eager to put the legal wrangling behind it. 

Rivian in August cited tariffs and policy changes when it backed away from a key financial goal, saying it would break even on a gross profit basis after earlier predicting a modest profit.

Also, the micromobility startup spun out of Rivian Automotive, has unveiled its first consumer product: an electric bike that will cost up to $4,500.

EVs are the primary way the company can bring in the cash required for its AI investments. And that business is facing slowing demand.

The automaker is stopping the assembly line that made BrightDrop vans in Ontario. Its future was in doubt after GM announced in April it would halt production for months because of weak demand.

GM agreed in 2022 to buy nickel supplies from Brazilian miner Vale as part of a strategy to build up its battery supply chain for EVs, but the pause has meant cancellation of the project. 

Tesla is also under scrutiny in the U.S., with NHTSA having launched a defect investigation into certain Model Y door handles. 

GM warned that it may take additional hits as it adjusts production, with non-cash charges potentially impacting operations and cash flow in the future.

Ford has forecast it could lose as much as $5.5 billion on EVs this year.

GM will give about $6,000 of its own cash for lease support and to keep EV sales going.