General Motors and LG Electronics reach agreement on the cost of recalling Bolt electric vehicle

Post a Comment

General Motors (GM) announced that it has reached an agreement under which LG Electronics will reimburse its costs and expenses related to the recall of Chevrolet Bolt electric vehicles due to manufacturing defects in batteries supplied by LG.

Owners of 2017-2019 Chevrolet Bolt electric vehicles are advised not to park them indoors and not leave them unattended overnight.

Chevy Bolt EV electric cars recall and stop sales, General Motors losses $ 1 billion

The effect of the agreement will be reflected in GM’s third quarter report. It will offset $ 1.9 billion of the $ 2.0 billion shown as costs associated with the recall.

“LG is a valuable and respected supplier to GM and we are delighted to have achieved this agreement,” said Shilpan Amin, GM’s vice president of global procurement and supply chain. “Our engineering and manufacturing teams continue to work together to accelerate production of new battery modules, and we plan to begin repairing customers’ electric vehicles this month.”

Related Posts

Post a Comment

Subscribe Our Newsletter