Tesla announces big plans for cheaper iron-based batteries

Tesla Inc. is planning to install iron-based batteries that are not only cheaper, but less of a fire hazard, in a version of an affordable electric vehicle and a semi heavy electric truck, according to reports.

General Motors offers buyouts for U.S. employees and executives

General Motors is offering salaried employees a voluntary buyout as it seeks to reduce costs by $2 billion over the next two years. "Taking this step now will help avoid the potential for involuntary actions," a company letter said.