GM Recalls Bolt Electric Vehicles due to Battery Fire Concerns and will Claim Compensation from LG
General Motors on Friday (20th) called for repairs of more than 73,000 Bolt electric vehicles in the United States and Canada, including the latest models, due to fire concerns. The estimated cost is US$1 billion. GM will provide battery supplier LG Ask for compensation.
GM’s Chevrolet (Chevrolet) has repeatedly called Bolt to repair. This recall adds a 2019-2022 model to update the battery modules in the car. It is estimated that the cost will be 1 billion US dollars. The cost increased to 1.8 billion U.S. dollars.
GM stated that it will require the battery supplier LG Energy to compensate. LG said that it is ensuring the smooth progress of the call. “The ratio of the reserve and cost will be determined based on the results of the ongoing joint investigation by GM, LG Electronics, and LG Energy Solution. .”
GM recommends that customers park their cars away from buildings and don’t charge them overnight. Car owners should charge up to 90% and charge as often as possible, so that the battery life should not drop below 70 miles.
General Motors (GM-US) shares fell 2.1% after the market on Friday. The stock has risen 17% this year, lagging Ford (F-US)’s 43% gain this year.
GM Recalls Bolt Electric Vehicles due to Battery Fire Concerns and will Claim Compensation from LG - /10