General Motors and LG Electronics have struck a deal in which the South Korean battery maker will pay for all the costs associated with the massive Chevy Bolt recall, the companies announced.
Last August, GM announced that it was recalling all Chevy Bolts made after 2017, including the new versions released earlier this year, after multiple fires in the electric vehicle’s battery packs were found to have been caused by defects in the LG Chem cells found inside.
As part of the agreement, LG will reimburse GM for the “costs and expenses” associated with the recall, which the automaker estimates will “offset $1.9 billion of $2.0 billion in charges associated with the recalls.” It’s a better deal than originally expected, with GM stating...
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Chevy Bolt recall will be paid for by battery supplier LG Electronics, GM says
![Chevy Bolt recall will be paid for by battery supplier LG Electronics, GM says]()
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October 12, 2021
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